Gamco Investors INC. ET AL Has $4.60 Million Position in ConocoPhillips $COP

Key Points

• Gamco Investors INC. ET AL reduced its position in ConocoPhillips by 14.1%, holding 43,824 shares valued at approximately $4.60 million after selling 7,191 shares in the first quarter.
• ConocoPhillips recently reported quarterly earnings of $1.42 EPS, exceeding analysts' expectations of $1.36, with revenue of $14.94 billion, reflecting a 4.3% year-over-year increase.
• The company announced a quarterly dividend of $0.78 per share, representing an annualized dividend yield of 3.2%, with the ex-dividend date set for August 18th.

Gamco Investors INC. ET AL trimmed its position in ConocoPhillips (NYSE:COP - Free Report) by 14.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,824 shares of the energy producer's stock after selling 7,191 shares during the quarter. Gamco Investors INC. ET AL's holdings in ConocoPhillips were worth $4,602,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in COP. 10Elms LLP acquired a new position in shares of ConocoPhillips in the fourth quarter valued at about $28,000. Financial Network Wealth Advisors LLC raised its stake in ConocoPhillips by 341.5% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer's stock worth $30,000 after purchasing an additional 222 shares in the last quarter. Stone House Investment Management LLC acquired a new position in shares of ConocoPhillips during the 1st quarter worth approximately $31,000. Garde Capital Inc. bought a new position in shares of ConocoPhillips during the first quarter worth approximately $35,000. Finally, IMA Advisory Services Inc. bought a new position in shares of ConocoPhillips during the first quarter worth approximately $37,000. Institutional investors own 82.36% of the company's stock.

Insider Activity at ConocoPhillips

In other news, EVP Kirk L. Johnson acquired 5,300 shares of the business's stock in a transaction that occurred on Monday, June 16th. The shares were bought at an average price of $94.24 per share, with a total value of $499,472.00. Following the acquisition, the executive vice president directly owned 14,527 shares in the company, valued at $1,369,024.48. The trade was a 57.44% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.24% of the company's stock.

ConocoPhillips Trading Up 0.9%

COP opened at $97.96 on Thursday. The company has a market cap of $122.34 billion, a P/E ratio of 13.15, a PEG ratio of 2.54 and a beta of 0.67. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The company's 50 day moving average is $93.98 and its 200-day moving average is $93.24. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $116.08.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.36 by $0.06. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The business had revenue of $14.94 billion during the quarter, compared to analysts' expectations of $14.39 billion. During the same period in the prior year, the company earned $1.98 EPS. The firm's quarterly revenue was up 4.3% compared to the same quarter last year. Equities research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Monday, August 18th. ConocoPhillips's dividend payout ratio is presently 41.88%.

Analyst Ratings Changes

COP has been the topic of a number of recent research reports. 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. Morgan Stanley restated an "overweight" rating and issued a $123.00 price target (up previously from $119.00) on shares of ConocoPhillips in a research report on Sunday, August 10th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $117.00 price target (up previously from $113.00) on shares of ConocoPhillips in a research note on Thursday, June 26th. Melius started coverage on shares of ConocoPhillips in a research note on Wednesday, August 20th. They set a "hold" rating and a $117.00 price objective on the stock. Finally, Roth Capital reissued a "buy" rating and issued a $108.00 target price on shares of ConocoPhillips in a report on Thursday, August 7th. Sixteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, ConocoPhillips presently has a consensus rating of "Moderate Buy" and a consensus price target of $120.95.

About ConocoPhillips

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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