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ConocoPhillips (NYSE:COP) Shares Purchased by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

ConocoPhillips logo with Energy background

Key Points

  • Empirical Financial Services LLC has increased its stake in ConocoPhillips by 43.4% in Q1, owning 18,595 shares valued at approximately $1.95 million.
  • ConocoPhillips reported $2.09 EPS for the recent quarter, surpassing analyst expectations of $2.05, and generated revenue of $16.18 billion.
  • The company recently declared a quarterly dividend of $0.78, which annualizes to a yield of 3.3% with a payout ratio of 39.64%.
  • Five stocks we like better than ConocoPhillips.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 43.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,595 shares of the energy producer's stock after buying an additional 5,628 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in ConocoPhillips were worth $1,953,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its stake in shares of ConocoPhillips by 13.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer's stock valued at $4,546,706,000 after buying an additional 5,549,078 shares during the last quarter. Capital International Investors lifted its stake in ConocoPhillips by 4.9% during the fourth quarter. Capital International Investors now owns 31,287,113 shares of the energy producer's stock worth $3,101,989,000 after purchasing an additional 1,473,027 shares during the last quarter. Invesco Ltd. lifted its stake in ConocoPhillips by 37.1% during the fourth quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer's stock worth $1,544,101,000 after purchasing an additional 4,211,939 shares during the last quarter. Northern Trust Corp lifted its stake in ConocoPhillips by 27.6% during the fourth quarter. Northern Trust Corp now owns 13,757,835 shares of the energy producer's stock worth $1,364,364,000 after purchasing an additional 2,971,661 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in ConocoPhillips by 9.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 12,021,394 shares of the energy producer's stock worth $1,191,984,000 after purchasing an additional 1,078,707 shares during the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on COP. Wells Fargo & Company restated an "overweight" rating and set a $117.00 price objective (up from $113.00) on shares of ConocoPhillips in a research note on Thursday, June 26th. Royal Bank Of Canada reduced their price objective on ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating on the stock in a research note on Friday, July 11th. Piper Sandler restated an "overweight" rating and set a $123.00 price objective (up from $113.00) on shares of ConocoPhillips in a research note on Tuesday, July 15th. Raymond James Financial raised their price objective on ConocoPhillips from $109.00 to $117.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. Finally, Scotiabank raised their price objective on ConocoPhillips from $95.00 to $100.00 and gave the stock a "sector perform" rating in a research note on Friday, July 11th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, ConocoPhillips currently has a consensus rating of "Moderate Buy" and an average price target of $121.33.

Get Our Latest Analysis on COP

Insider Transactions at ConocoPhillips

In other news, EVP Kirk L. Johnson bought 5,300 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were purchased at an average cost of $94.24 per share, with a total value of $499,472.00. Following the completion of 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 Securities & Exchange Commission, which is available through the SEC website. 0.24% of the stock is currently owned by insiders.

ConocoPhillips Stock Performance

Shares of COP traded up $0.06 during trading hours on Monday, reaching $92.82. 9,252,844 shares of the company's stock traded hands, compared to its average volume of 8,138,656. The firm has a market capitalization of $117.34 billion, a price-to-earnings ratio of 11.79, a P/E/G ratio of 2.41 and a beta of 0.67. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.27 and a quick ratio of 1.13. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $116.08. The business's fifty day simple moving average is $91.97 and its two-hundred day simple moving average is $93.99.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, beating analysts' consensus estimates of $2.05 by $0.04. The company had revenue of $16.18 billion for 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 period last year, the company earned $2.05 earnings per share. Analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips's payout ratio is presently 39.64%.

ConocoPhillips Profile

(Free Report)

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.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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