Integrity Alliance LLC. Has $948,000 Holdings in ConocoPhillips $COP

Key Points

• Integrity Alliance LLC significantly increased its stake in ConocoPhillips by 146.7%, now owning 9,023 shares valued at approximately $948,000.
• Other major institutional investors including Charles Schwab Investment Management, Nuveen LLC, and AQR Capital Management also expanded their holdings, indicating strong institutional support for the stock.
• ConocoPhillips recently reported earnings of $1.42 per share, beating estimates, with a quarterly revenue of $14.94 billion, showcasing its financial strength amid market fluctuations.

Integrity Alliance LLC. increased its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 146.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,023 shares of the energy producer's stock after acquiring an additional 5,366 shares during the quarter. Integrity Alliance LLC.'s holdings in ConocoPhillips were worth $948,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its holdings in ConocoPhillips by 379.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer's stock worth $4,210,751,000 after buying an additional 31,736,423 shares during the period. Wellington Management Group LLP raised its holdings in ConocoPhillips by 1.4% during the 1st quarter. Wellington Management Group LLP now owns 31,610,608 shares of the energy producer's stock worth $3,319,746,000 after buying an additional 437,709 shares during the period. Goldman Sachs Group Inc. raised its holdings in ConocoPhillips by 30.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer's stock worth $942,297,000 after buying an additional 2,080,625 shares during the period. Ameriprise Financial Inc. raised its holdings in ConocoPhillips by 15.1% during the 1st quarter. Ameriprise Financial Inc. now owns 8,202,861 shares of the energy producer's stock worth $861,490,000 after buying an additional 1,073,906 shares during the period. Finally, Nuveen LLC acquired a new stake in ConocoPhillips during the 1st quarter worth approximately $658,981,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on COP. Melius began coverage on shares of ConocoPhillips in a report on Wednesday, August 20th. They set a "hold" rating and a $117.00 target price on the stock. Wall Street Zen downgraded shares of ConocoPhillips from a "hold" rating to a "sell" rating in a report on Friday, August 22nd. Royal Bank Of Canada lowered their price objective on shares of ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating on the stock in a report on Friday, July 11th. Mizuho lowered their price objective on shares of ConocoPhillips from $125.00 to $120.00 and set an "outperform" rating on the stock in a report on Monday. Finally, Citigroup lowered their price objective on shares of ConocoPhillips from $140.00 to $115.00 and set a "buy" rating on the stock in a report on Wednesday, June 11th. Sixteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $120.62.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock traded up $2.20 during trading on Tuesday, reaching $94.53. The company's stock had a trading volume of 4,860,777 shares, compared to its average volume of 7,905,450. The business's 50-day moving average price is $94.74 and its 200-day moving average price is $92.88. The firm has a market cap of $118.06 billion, a PE ratio of 12.69, a P/E/G ratio of 2.43 and a beta of 0.69. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $116.08. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.36 by $0.06. The company had revenue of $14.94 billion during the quarter, compared to analysts' expectations of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. ConocoPhillips's quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.98 earnings per share. Equities analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips's payout ratio is presently 41.88%.

ConocoPhillips Company Profile

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.