Earned Wealth Advisors LLC Purchases Shares of 2,786 ConocoPhillips (NYSE:COP)

Key Points

• Earned Wealth Advisors LLC acquired 2,786 shares of ConocoPhillips (NYSE:COP) valued at approximately $293,000 during the first quarter.
• Several analysts have rated ConocoPhillips with recommendations ranging from "hold" to "buy,” with the average target price currently at $121.33.
• ConocoPhillips recently declared a quarterly dividend of $0.78 per share, representing a 3.4% yield and a payout ratio of 39.64%.

Earned Wealth Advisors LLC purchased a new stake in shares of ConocoPhillips (NYSE:COP - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,786 shares of the energy producer's stock, valued at approximately $293,000.

A number of other hedge funds also recently added to or reduced their stakes in COP. 10Elms LLP bought a new stake in ConocoPhillips in the 4th quarter worth approximately $28,000. Garde Capital Inc. purchased a new position in shares of ConocoPhillips in the 1st quarter worth $35,000. IMA Advisory Services Inc. purchased a new stake in ConocoPhillips during the first quarter valued at $37,000. Fourth Dimension Wealth LLC purchased a new position in ConocoPhillips in the fourth quarter worth about $39,000. Finally, MorganRosel Wealth Management LLC purchased a new position in ConocoPhillips in the first quarter worth about $42,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Trading Up 0.1%

COP stock traded up $0.09 during trading on Wednesday, hitting $93.29. The company had a trading volume of 6,820,424 shares, compared to its average volume of 5,628,489. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $116.08. The company has a 50 day simple moving average of $92.28 and a 200-day simple moving average of $93.89. The firm has a market capitalization of $117.93 billion, a P/E ratio of 11.85, a PEG ratio of 2.43 and a beta of 0.67. The company has a quick ratio of 1.13, a current ratio of 1.27 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.05 by $0.04. The firm had revenue of $16.18 billion during the quarter, compared to analyst estimates of $15.74 billion. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. During the same quarter in the previous year, the business earned $2.05 earnings per share. As a group, research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Monday, May 19th. ConocoPhillips's payout ratio is presently 39.64%.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, EVP Kirk L. Johnson bought 5,300 shares of the company's stock in a transaction on Monday, June 16th. The shares were bought at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the acquisition, the executive vice president directly owned 14,527 shares in the company, valued at approximately $1,369,024.48. The trade was a 57.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.24% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on COP. Citigroup cut their target price on shares of ConocoPhillips from $140.00 to $115.00 and set a "buy" rating for the company in a research report on Wednesday, June 11th. Piper Sandler restated an "overweight" rating and issued a $123.00 price objective (up from $113.00) on shares of ConocoPhillips in a research note on Tuesday, July 15th. Mizuho decreased their target price on ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Barclays reduced their price target on ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Finally, Raymond James Financial lifted their price objective on ConocoPhillips from $109.00 to $117.00 and gave the company an "outperform" rating in a research report on Tuesday, July 22nd. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, ConocoPhillips has an average rating of "Moderate Buy" and a consensus price target of $121.33.

ConocoPhillips 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.