ConocoPhillips $COP Stock: Howard Capital Management LLC Raises Holdings

Key Points

• Howard Capital Management increased its ConocoPhillips stake by 338.7% in the third quarter, bringing its holdings to 106,059 shares valued at approximately $13.3 million. Institutional investors collectively own 82.36% of the company.
• Analysts maintain a generally positive view of COP, with an average rating of “Moderate Buy” and an average price target of $143.62. Morgan Stanley raised its target to $159, while Goldman Sachs lowered its target to $138.
• ConocoPhillips shares recently rose 3.3% to $146.43, near their 12-month high, after the company reported quarterly earnings and revenue above expectations. The company also declared a quarterly dividend of $0.84 per share, equivalent to a 2.3% annual yield.

Howard Capital Management LLC lifted its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 338.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 106,059 shares of the energy producer's stock after acquiring an additional 81,882 shares during the quarter. Howard Capital Management LLC's holdings in ConocoPhillips were worth $13,273,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Venture Visionary Partners LLC lifted its holdings in shares of ConocoPhillips by 263.6% in the third quarter. Venture Visionary Partners LLC now owns 118,655 shares of the energy producer's stock worth $14,850,000 after acquiring an additional 86,019 shares during the last quarter. B. Metzler seel. Sohn & Co. AG acquired a new position in ConocoPhillips during the 2nd quarter worth approximately $6,896,000. Qsemble Capital Management LP acquired a new position in ConocoPhillips during the 2nd quarter worth approximately $3,645,000. Cetera Trust Company N.A bought a new position in ConocoPhillips in the 2nd quarter valued at approximately $870,000. Finally, Osmosis Investment Management UK Ltd acquired a new stake in ConocoPhillips in the second quarter valued at approximately $1,475,000. Institutional investors and hedge funds own 82.36% of the company's stock.

Analysts Set New Price Targets

COP has been the topic of a number of research reports. Freedom Capital raised shares of ConocoPhillips from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 10th. The Goldman Sachs Group dropped their price target on ConocoPhillips from $144.00 to $138.00 and set a "buy" rating for the company in a research note on Tuesday, June 30th. Morgan Stanley raised their price objective on ConocoPhillips from $151.00 to $159.00 and gave the company an "overweight" rating in a report on Thursday. Seaport Research Partners started coverage on ConocoPhillips in a research report on Thursday, September 3rd. They set a "neutral" rating on the stock. Finally, Wall Street Zen raised ConocoPhillips from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $143.62.

ConocoPhillips Trading Up 3.3%

Shares of COP stock traded up $4.70 during trading hours on Friday, hitting $146.43. 7,765,878 shares of the company's stock traded hands, compared to its average volume of 6,598,777. The stock's 50 day simple moving average is $132.11 and its 200 day simple moving average is $122.44. The stock has a market cap of $175.92 billion, a PE ratio of 19.37, a price-to-earnings-growth ratio of 1.41 and a beta of 0.24. ConocoPhillips has a 12 month low of $85.57 and a 12 month high of $146.59. The company has a quick ratio of 1.39, a current ratio of 1.54 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, beating analysts' consensus estimates of $2.90 by $0.34. The firm had revenue of $19.52 billion for the quarter, compared to analyst estimates of $18.79 billion. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%. The business's revenue was up 32.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.42 EPS. On average, sell-side analysts anticipate that ConocoPhillips will post 11.19 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were issued a dividend of $0.84 per share. The ex-dividend date was Monday, August 17th. This represents a $3.36 annualized dividend and a yield of 2.3%. ConocoPhillips's dividend payout ratio (DPR) is presently 44.44%.

Insider Transactions at ConocoPhillips

In other news, SVP Andrew Lundquist sold 9,487 shares of the business's 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 transaction, the senior vice president owned 9,593 shares in the company, valued at approximately $1,296,493.95. The trade was a 49.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.09% of the company's stock.

ConocoPhillips Profile

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

The company has a diversified portfolio of assets in major producing regions, including the United States, Canada, Australia, Norway and Qatar. Its U.S. operations include oil and gas developments in Alaska and the Lower 48 states, while its international portfolio includes conventional and offshore projects.

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