ConocoPhillips $COP Stock Acquired by Frank Rimerman Advisors LLC

Key Points

• Frank Rimerman Advisors LLC increased its ConocoPhillips stake by 71.1% in the third quarter, bringing its holdings to 23,740 shares valued at approximately $2.97 million. Institutional investors and hedge funds collectively own 82.36% of COP.
• Analysts maintain a generally positive view, with ConocoPhillips receiving a consensus rating of “Moderate Buy” and an average price target of $143.62. Ratings include two Strong Buys, 17 Buys, six Holds and two Sells.
• ConocoPhillips reported quarterly earnings of $3.24 per share, exceeding estimates of $2.90, while revenue rose 32.4% year over year to $19.52 billion. The company also declared a quarterly dividend of $0.84 per share, representing a 2.3% annualized yield.

Frank Rimerman Advisors LLC increased its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 71.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,740 shares of the energy producer's stock after purchasing an additional 9,868 shares during the quarter. Frank Rimerman Advisors LLC's holdings in ConocoPhillips were worth $2,971,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of COP. Frazier Financial Advisors LLC increased its holdings in ConocoPhillips by 151.0% in the 1st quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer's stock valued at $32,000 after buying an additional 145 shares during the period. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in shares of ConocoPhillips in the 4th quarter valued at approximately $25,000. Ballast Advisors LLC bought a new stake in shares of ConocoPhillips during the 1st quarter worth approximately $36,000. Evergreen Advisors LLC bought a new stake in shares of ConocoPhillips during the 1st quarter worth approximately $36,000. Finally, Allied Private Wealth LLC bought a new stake in shares of ConocoPhillips during the 2nd quarter worth approximately $32,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Mizuho reduced their price target on shares of ConocoPhillips from $150.00 to $146.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 7th. Stifel Nicolaus began coverage on shares of ConocoPhillips in a research report on Thursday, September 10th. They set a "hold" rating and a $148.00 price objective for the company. Argus upped their target price on ConocoPhillips from $136.00 to $153.00 and gave the stock a "buy" rating in a research note on Wednesday, August 19th. Freedom Capital upgraded ConocoPhillips from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 10th. Finally, Roth Capital raised ConocoPhillips from a "neutral" rating to a "buy" rating and raised their target price for the company from $124.00 to $130.00 in a report on Monday, June 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $143.62.

Insider Transactions at ConocoPhillips

In related news, SVP Andrew Lundquist sold 9,487 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $135.15, for a total value of $1,282,168.05. Following the completion of the transaction, the senior vice president owned 9,593 shares of the company's stock, valued at $1,296,493.95. This represents a 49.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.09% of the stock is currently owned by corporate insiders.

ConocoPhillips Stock Up 3.3%

Shares of NYSE COP opened at $146.43 on Friday. The company has a current ratio of 1.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35. The company has a market cap of $175.92 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 1.45 and a beta of 0.24. ConocoPhillips has a 12 month low of $85.57 and a 12 month high of $146.59. The stock has a 50-day moving average price of $132.11 and a two-hundred day moving average price of $122.44.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its earnings results on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, topping analysts' consensus estimates of $2.90 by $0.34. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The firm had revenue of $19.52 billion during the quarter, compared to analysts' expectations of $18.79 billion. During the same quarter in the prior year, the business earned $1.42 earnings per share. The business's revenue for the quarter was up 32.4% compared to the same quarter last year. As a group, analysts forecast that ConocoPhillips will post 11.19 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 17th were given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Monday, August 17th. ConocoPhillips's dividend payout ratio is currently 44.44%.

ConocoPhillips Company Profile

ConocoPhillips NYSE: COP is an independent exploration and production company engaged in finding, developing and producing oil, natural gas and natural gas liquids. Unlike integrated energy companies, it primarily focuses on upstream activities rather than operating large refining or retail fuel businesses.

The company's portfolio includes conventional and unconventional oil and natural gas assets, liquefied natural gas-related interests, oil sands operations and other energy resources.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.