ConocoPhillips $COP Shares Bought by McAlvany Wealth Management LLC

Key Points

• McAlvany Wealth Management boosted its ConocoPhillips stake by 60.6% in the first quarter, buying 18,143 additional shares and bringing its position to 48,071 shares valued at about $6.39 million.
• ConocoPhillips reported better-than-expected quarterly earnings of $1.89 per share on revenue of $15.76 billion, topping analyst forecasts, while also maintaining a quarterly dividend of $0.84 per share for a 2.9% yield.
• The company is drawing attention for a major Iraq expansion, agreeing to buy a 42% stake in BP’s Iraq venture tied to the Kirkuk oilfields, even as analysts remain broadly positive with a “Moderate Buy” consensus.

McAlvany Wealth Management LLC raised its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 60.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,071 shares of the energy producer's stock after purchasing an additional 18,143 shares during the period. ConocoPhillips accounts for 4.0% of McAlvany Wealth Management LLC's holdings, making the stock its 5th biggest position. McAlvany Wealth Management LLC's holdings in ConocoPhillips were worth $6,388,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of COP. Concurrent Investment Advisors LLC boosted its holdings in ConocoPhillips by 31.2% in the 4th quarter. Concurrent Investment Advisors LLC now owns 86,171 shares of the energy producer's stock worth $8,067,000 after buying an additional 20,501 shares during the last quarter. D.A. Davidson & CO. increased its stake in ConocoPhillips by 10.5% during the 4th quarter. D.A. Davidson & CO. now owns 155,662 shares of the energy producer's stock worth $14,572,000 after buying an additional 14,833 shares in the last quarter. Czech National Bank raised its holdings in shares of ConocoPhillips by 2.7% during the fourth quarter. Czech National Bank now owns 325,841 shares of the energy producer's stock valued at $30,502,000 after acquiring an additional 8,635 shares during the last quarter. BXM Wealth LLC raised its holdings in shares of ConocoPhillips by 691.6% during the fourth quarter. BXM Wealth LLC now owns 40,016 shares of the energy producer's stock valued at $3,746,000 after acquiring an additional 34,961 shares during the last quarter. Finally, Assetmark Inc. lifted its position in shares of ConocoPhillips by 17.6% in the fourth quarter. Assetmark Inc. now owns 410,229 shares of the energy producer's stock valued at $38,402,000 after acquiring an additional 61,361 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

ConocoPhillips Trading Up 1.6%

Shares of ConocoPhillips stock opened at $114.70 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14. The stock's 50 day simple moving average is $113.48 and its 200-day simple moving average is $113.37. The stock has a market cap of $139.74 billion, a P/E ratio of 19.47, a P/E/G ratio of 1.36 and a beta of 0.12. ConocoPhillips has a 1-year low of $85.57 and a 1-year high of $135.87.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, beating the consensus estimate of $1.72 by $0.17. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The firm had revenue of $15.76 billion during the quarter, compared to analysts' expectations of $15.62 billion. During the same quarter last year, the firm earned $2.09 earnings per share. The business's revenue for the quarter was down 6.1% on a year-over-year basis. Analysts predict that ConocoPhillips will post 9.2 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 11th were issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 2.9%. The ex-dividend date was Monday, May 11th. ConocoPhillips's dividend payout ratio is presently 57.05%.

Key ConocoPhillips News

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips agreed to acquire a 42% stake in BP’s Iraq venture, increasing its exposure to the Kirkuk oilfields and more than 3 billion barrels of recoverable resources. Reuters article
• Positive Sentiment: The company’s Iraq agreement is part of a broader wave of U.S. corporate commitments to support Iraqi energy development, which may signal additional international growth potential. Financial Post article
• Positive Sentiment: Energy shares were broadly stronger, helping support ConocoPhillips alongside a sector-wide move higher. Yahoo Finance article
• Neutral Sentiment: Several reports noted that COP tends to move with crude oil prices, so commodity trends remain an important near-term driver for the stock. Kalkine Media article

Analyst Ratings Changes

A number of brokerages have recently issued reports on COP. Susquehanna lifted their price target on ConocoPhillips from $149.00 to $152.00 in a research note on Friday, May 1st. Royal Bank Of Canada set a $130.00 price objective on ConocoPhillips in a research note on Monday, June 22nd. Wolfe Research raised their price objective on ConocoPhillips from $138.00 to $144.00 and gave the company an "outperform" rating in a report on Monday, April 6th. Mizuho lowered their target price on shares of ConocoPhillips from $150.00 to $146.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 7th. Finally, Capital One Financial dropped their target price on shares of ConocoPhillips from $156.00 to $154.00 and set an "equal weight" rating for the company in a report on Monday, May 18th. Eighteen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $134.04.

ConocoPhillips Company Profile

ConocoPhillips NYSE: COP is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company's activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.

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