AA Financial Advisors LLC Purchases 3,520 Shares of ConocoPhillips $COP

Key Points

• AA Financial Advisors LLC increased its stake in ConocoPhillips (COP) by 44.6%, owning 11,406 shares valued at approximately $1,024,000.
• The company recently announced a quarterly dividend of $0.78 per share, representing an annual yield of 3.4% with a payout ratio of 41.88%.
• ConocoPhillips reported a strong quarterly earnings performance, with $1.42 EPS exceeding analyst expectations and revenue of $14.94 billion, marking a 4.3% year-over-year increase.

AA Financial Advisors LLC raised its stake in ConocoPhillips (NYSE:COP - Free Report) by 44.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,406 shares of the energy producer's stock after purchasing an additional 3,520 shares during the period. AA Financial Advisors LLC's holdings in ConocoPhillips were worth $1,024,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the business. Viking Fund Management LLC grew its stake in ConocoPhillips by 12.5% during the 2nd quarter. Viking Fund Management LLC now owns 27,000 shares of the energy producer's stock worth $2,423,000 after buying an additional 3,000 shares during the last quarter. Assenagon Asset Management S.A. increased its position in ConocoPhillips by 145.8% during the second quarter. Assenagon Asset Management S.A. now owns 2,933,286 shares of the energy producer's stock worth $263,233,000 after buying an additional 1,740,009 shares in the last quarter. TCV Trust & Wealth Management Inc. increased its position in ConocoPhillips by 6.2% during the second quarter. TCV Trust & Wealth Management Inc. now owns 2,810 shares of the energy producer's stock worth $252,000 after buying an additional 163 shares in the last quarter. IFM Investors Pty Ltd increased its position in ConocoPhillips by 4.4% during the second quarter. IFM Investors Pty Ltd now owns 258,121 shares of the energy producer's stock worth $23,164,000 after buying an additional 10,991 shares in the last quarter. Finally, YHB Investment Advisors Inc. grew its position in shares of ConocoPhillips by 4.0% in the second quarter. YHB Investment Advisors Inc. now owns 17,625 shares of the energy producer's stock valued at $1,582,000 after purchasing an additional 682 shares during the period. Hedge funds and other institutional investors own 82.36% of the company's stock.

ConocoPhillips Stock Up 0.2%

NYSE COP traded up $0.19 during trading on Monday, hitting $92.11. 5,697,283 shares of the company traded hands, compared to its average volume of 7,928,243. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $116.08. The business has a fifty day simple moving average of $94.59 and a 200 day simple moving average of $92.97. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $115.04 billion, a P/E ratio of 12.36, a PEG ratio of 2.42 and a beta of 0.69.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The company had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. During the same period last year, the company earned $1.98 earnings per share. The business's revenue was up 4.3% compared to the same quarter last year. As a group, sell-side analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were paid a $0.78 dividend. The ex-dividend date was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.4%. ConocoPhillips's payout ratio is presently 41.88%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on COP. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $117.00 price objective (up previously from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. BMO Capital Markets boosted their price target on ConocoPhillips from $113.00 to $115.00 and gave the company an "outperform" rating in a research report on Monday. Raymond James Financial lowered their price target on ConocoPhillips from $117.00 to $115.00 and set an "outperform" rating for the company in a research report on Monday, September 8th. Susquehanna lowered their price target on ConocoPhillips from $114.00 to $113.00 and set a "positive" rating for the company in a research report on Wednesday, July 23rd. Finally, Piper Sandler boosted their price objective on ConocoPhillips from $123.00 to $124.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. Sixteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, ConocoPhillips has an average rating of "Moderate Buy" and a consensus price target of $120.14.

About ConocoPhillips

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.