ConocoPhillips $COP Stock Position Raised by EP Wealth Advisors LLC

Key Points

• EP Wealth Advisors LLC increased its stake in ConocoPhillips by 12.2%, owning 51,268 shares valued at approximately $5.38 million after acquiring additional shares in the first quarter.
• Research analysts have raised price targets for ConocoPhillips, with Raymond James increasing its target from $109 to $117 and Morgan Stanley from $119 to $123, indicating a positive outlook for the stock.
• ConocoPhillips reported $1.42 EPS in its latest earnings call, exceeding expectations and posting a 4.3% year-over-year revenue increase.

EP Wealth Advisors LLC boosted its position in ConocoPhillips (NYSE:COP - Free Report) by 12.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,268 shares of the energy producer's stock after buying an additional 5,571 shares during the period. EP Wealth Advisors LLC's holdings in ConocoPhillips were worth $5,384,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Second Line Capital LLC raised its position in shares of ConocoPhillips by 2.2% in the 4th quarter. Second Line Capital LLC now owns 4,990 shares of the energy producer's stock valued at $495,000 after purchasing an additional 108 shares in the last quarter. LRI Investments LLC raised its position in shares of ConocoPhillips by 3.6% in the 4th quarter. LRI Investments LLC now owns 3,184 shares of the energy producer's stock valued at $316,000 after purchasing an additional 110 shares in the last quarter. KLCM Advisors Inc. raised its position in shares of ConocoPhillips by 2.6% in the 1st quarter. KLCM Advisors Inc. now owns 4,503 shares of the energy producer's stock valued at $473,000 after purchasing an additional 115 shares in the last quarter. Deseret Mutual Benefit Administrators raised its position in shares of ConocoPhillips by 3.9% during the 1st quarter. Deseret Mutual Benefit Administrators now owns 3,177 shares of the energy producer's stock valued at $334,000 after acquiring an additional 118 shares in the last quarter. Finally, Northeast Financial Consultants Inc raised its position in shares of ConocoPhillips by 2.9% during the 4th quarter. Northeast Financial Consultants Inc now owns 4,361 shares of the energy producer's stock valued at $432,000 after acquiring an additional 122 shares in the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, EVP Kirk L. Johnson acquired 5,300 shares of ConocoPhillips stock in a transaction that occurred on Monday, June 16th. The stock was purchased at an average cost of $94.24 per share, with a total value of $499,472.00. Following the purchase, the executive vice president 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 link. Corporate insiders own 0.24% of the company's stock.

ConocoPhillips Price Performance

COP stock traded down $2.80 during trading hours on Friday, hitting $92.97. 8,509,766 shares of the stock traded hands, compared to its average volume of 6,192,091. The stock has a 50-day simple moving average of $94.76 and a 200 day simple moving average of $93.15. ConocoPhillips has a one year low of $79.88 and a one year high of $116.08. The company has a market cap of $116.12 billion, a P/E ratio of 12.48, a P/E/G ratio of 2.43 and a beta of 0.69. The company has a current ratio of 1.27, a quick ratio of 1.10 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 for the quarter, beating the consensus estimate of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The business had revenue of $14.94 billion during the quarter, compared to analysts' expectations of $14.39 billion. During the same quarter last year, the business posted $1.98 earnings per share. The company's quarterly revenue was up 4.3% on a year-over-year basis. Equities analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips's dividend payout ratio is currently 41.88%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Bank of America dropped their price target on ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. Piper Sandler upped their price target on ConocoPhillips from $123.00 to $124.00 and gave the company an "overweight" rating in a research report on Monday, August 18th. Morgan Stanley reissued an "overweight" rating and set a $123.00 price target (up from $119.00) on shares of ConocoPhillips in a research report on Sunday, August 10th. Melius Research assumed coverage on ConocoPhillips in a research report on Wednesday, August 20th. They set a "hold" rating and a $117.00 price target on the stock. Finally, Wall Street Zen lowered ConocoPhillips from a "hold" rating to a "sell" rating in a research report on Friday, August 22nd. Sixteen equities 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.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $120.95.

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.