Invst LLC Purchases Shares of 9,525 ConocoPhillips $COP

Key Points

• Invst LLC initiated a position in ConocoPhillips by purchasing 9,525 shares valued at approximately $990,000. Institutional investors and hedge funds collectively own 82.36% of COP.
• ConocoPhillips reported stronger-than-expected quarterly results, with EPS of $3.24 versus the $2.90 consensus estimate and revenue up 32.4% year over year to $19.52 billion.
• COP shares opened at $131.84, while the company maintained a quarterly dividend of $0.84 per share, equivalent to a 2.5% annualized yield. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $140.29.

Invst LLC purchased a new position in shares of ConocoPhillips (NYSE:COP - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 9,525 shares of the energy producer's stock, valued at approximately $990,000.

Several other institutional investors and hedge funds have also made changes to their positions in COP. Patten Group Inc. lifted its stake in ConocoPhillips by 1.5% during the first quarter. Patten Group Inc. now owns 5,447 shares of the energy producer's stock worth $719,000 after purchasing an additional 83 shares during the last quarter. IFC Advisors LLC increased its stake in ConocoPhillips by 0.4% in the first quarter. IFC Advisors LLC now owns 20,182 shares of the energy producer's stock valued at $2,664,000 after purchasing an additional 84 shares during the last quarter. Cornerstone Planning Group LLC raised its holdings in ConocoPhillips by 9.6% during the first quarter. Cornerstone Planning Group LLC now owns 1,006 shares of the energy producer's stock worth $124,000 after purchasing an additional 88 shares in the last quarter. Blue Trust Inc. raised its holdings in ConocoPhillips by 0.4% during the first quarter. Blue Trust Inc. now owns 21,144 shares of the energy producer's stock worth $2,791,000 after purchasing an additional 92 shares in the last quarter. Finally, Sigma Planning Corp lifted its position in shares of ConocoPhillips by 0.6% during the 1st quarter. Sigma Planning Corp now owns 16,062 shares of the energy producer's stock worth $2,120,000 after buying an additional 94 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Trading Down 1.1%

Shares of ConocoPhillips stock opened at $131.84 on Wednesday. ConocoPhillips has a 1 year low of $85.57 and a 1 year high of $135.88. 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 company has a market capitalization of $158.39 billion, a P/E ratio of 17.44, a PEG ratio of 1.40 and a beta of 0.11. The company's fifty day moving average is $116.14 and its two-hundred day moving average is $118.14.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, beating analysts' consensus estimates of $2.90 by $0.34. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The business had revenue of $19.52 billion during the quarter, compared to analysts' expectations of $18.79 billion. During the same period in the prior year, the company earned $1.42 earnings per share. The business's revenue was up 32.4% compared to the same quarter last year. Analysts forecast that ConocoPhillips will post 10.55 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $3.36 annualized dividend and a yield of 2.5%. ConocoPhillips's dividend payout ratio is currently 44.44%.

ConocoPhillips News Summary

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: An executive said additional Arctic drilling activity is “inevitable,” signaling potential long-term growth opportunities for ConocoPhillips as access to the region expands. However, the development is unlikely to materially affect near-term earnings. More Arctic activity inevitable says ConocoPhillips
• Positive Sentiment: RBC Capital reaffirmed its Buy rating, supporting the bullish analyst view on COP. The company also benefits from firmer crude prices amid supply concerns, which could improve upstream revenue and cash flow. RBC Capital reaffirms Buy rating
• Neutral Sentiment: With COP shares near a three-month peak, a covered-call strategy offering a 1.75% yield at the $140 September strike may appeal to income-focused shareholders. The strategy also suggests investors see the stock’s upside as potentially limited in the near term. Covered call yields with ConocoPhillips
• Negative Sentiment: Senior Vice President Andrew Lundquist sold 9,487 shares for approximately $1.28 million, reducing his position by nearly 50%. While insider sales can reflect personal financial planning, the sizable transaction may weigh on sentiment, particularly with the stock near recent highs. Andrew Lundquist sells ConocoPhillips shares

Insider Buying and Selling

In other ConocoPhillips news, SVP Andrew D. Lundquist sold 9,487 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the completion of the sale, the senior vice president directly owned 9,593 shares of the company's stock, valued at approximately $1,296,493.95. This trade represents a 49.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Capital One Financial cut their price target on shares of ConocoPhillips from $156.00 to $154.00 and set an "equal weight" rating on the stock in a research note on Monday, May 18th. Raymond James Financial reaffirmed an "underperform" rating and set a $168.00 price objective on shares of ConocoPhillips in a report on Monday. Jefferies Financial Group lifted their target price on ConocoPhillips from $160.00 to $161.00 and gave the stock a "buy" rating in a research report on Monday, May 18th. Morgan Stanley boosted their target price on ConocoPhillips from $147.00 to $151.00 and gave the company an "overweight" rating in a report on Wednesday, August 19th. Finally, Roth Capital raised ConocoPhillips from a "neutral" rating to a "buy" rating and upped their target price for the company from $124.00 to $130.00 in a research report on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $140.29.

ConocoPhillips Company Profile

ConocoPhillips NYSE: COP is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company's activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.

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