ConocoPhillips $COP Stock Purchased by IFP Advisors Inc

Key Points

• IFP Advisors increased its ConocoPhillips position by 142.8% in the third quarter, ending with 36,881 shares valued at approximately $4.6 million. Institutional investors collectively own 82.36% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $143.62; individual targets range as high as $174.
• ConocoPhillips reported quarterly earnings of $3.24 per share, beating estimates, while revenue rose 32.4% year over year to $19.52 billion. The company also pays a quarterly dividend of $0.84, representing a 2.3% annualized yield.

IFP Advisors Inc raised its position in ConocoPhillips (NYSE:COP - Free Report) by 142.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,881 shares of the energy producer's stock after purchasing an additional 21,694 shares during the quarter. IFP Advisors Inc's holdings in ConocoPhillips were worth $4,616,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Frazier Financial Advisors LLC raised its holdings in ConocoPhillips by 151.0% during the first quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer's stock worth $32,000 after buying an additional 145 shares during the last quarter. Allied Private Wealth LLC bought a new stake in shares of ConocoPhillips in the second quarter valued at $32,000. Evergreen Advisors LLC bought a new position in shares of ConocoPhillips during the first quarter valued at approximately $36,000. Ballast Advisors LLC purchased a new position in shares of ConocoPhillips in the 1st quarter valued at approximately $36,000. Finally, Avalon Trust Co purchased a new position in ConocoPhillips during the first quarter valued at $40,000. 82.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

COP has been the topic of several research analyst reports. Jefferies Financial Group upped their target price on shares of ConocoPhillips from $159.00 to $174.00 and gave the company a "buy" rating in a research note on Tuesday, October 6th. The Goldman Sachs Group dropped their price objective on shares of ConocoPhillips from $144.00 to $138.00 and set a "buy" rating for the company in a report on Tuesday, June 30th. Morgan Stanley increased their price objective on shares of ConocoPhillips from $151.00 to $159.00 and gave the company an "overweight" rating in a research report on Thursday. Seaport Research Partners assumed coverage on ConocoPhillips in a research note on Thursday, September 3rd. They issued a "neutral" rating for the company. Finally, Barclays reduced their target price on shares of ConocoPhillips from $155.00 to $150.00 and set an "overweight" rating on the stock in a research note on Monday, August 17th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $143.62.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $145.34 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.39 and a current ratio of 1.54. The business has a 50-day simple moving average of $132.56 and a two-hundred day simple moving average of $122.46. The company has a market cap of $174.60 billion, a PE ratio of 19.22, a P/E/G ratio of 1.45 and a beta of 0.24. ConocoPhillips has a fifty-two week low of $85.57 and a fifty-two week high of $146.70.

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

ConocoPhillips Announces Dividend

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

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, SVP Andrew Lundquist sold 9,487 shares of ConocoPhillips stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the transaction, the senior vice president directly owned 9,593 shares of the company's stock, valued at $1,296,493.95. The trade was a 49.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 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.

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