Kaufman Rossin Wealth LLC Takes $435,000 Position in ConocoPhillips $COP

Key Points

• Kaufman Rossin Wealth LLC has acquired a new position in ConocoPhillips, buying 4,143 shares valued at approximately $435,000 in the first quarter of the year.
• Insider activities include EVP Kirk L. Johnson purchasing 5,300 shares, increasing his ownership by 57.44% and demonstrating executive confidence in the company.
• ConocoPhillips reported a quarterly EPS of $1.42, exceeding estimates, alongside a 4.3% year-over-year revenue increase to $14.94 billion.

Kaufman Rossin Wealth LLC acquired a new stake in ConocoPhillips (NYSE:COP - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,143 shares of the energy producer's stock, valued at approximately $435,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its position in shares of ConocoPhillips by 13.8% in the fourth 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 in the last quarter. Elevation Point Wealth Partners LLC increased its position in shares of ConocoPhillips by 83.0% in the first quarter. Elevation Point Wealth Partners LLC now owns 18,060 shares of the energy producer's stock valued at $1,897,000 after buying an additional 8,189 shares in the last quarter. Schwartz Investment Counsel Inc. increased its position in shares of ConocoPhillips by 159.6% in the first quarter. Schwartz Investment Counsel Inc. now owns 48,800 shares of the energy producer's stock valued at $5,125,000 after buying an additional 30,000 shares in the last quarter. Aberdeen Group plc increased its position in shares of ConocoPhillips by 49.3% in the first quarter. Aberdeen Group plc now owns 801,426 shares of the energy producer's stock valued at $83,969,000 after buying an additional 264,726 shares in the last quarter. Finally, ORG Wealth Partners LLC increased its position in shares of ConocoPhillips by 853.3% in the first quarter. ORG Wealth Partners LLC now owns 6,616 shares of the energy producer's stock valued at $698,000 after buying an additional 5,922 shares in the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

COP has been the subject of a number of recent analyst reports. Mizuho cut their price objective on ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Wall Street Zen lowered ConocoPhillips from a "hold" rating to a "sell" rating in a research note on Friday. Raymond James Financial lifted their price target on ConocoPhillips from $109.00 to $117.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. Piper Sandler lifted their price target on ConocoPhillips from $123.00 to $124.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. Finally, Royal Bank Of Canada lowered their price target on ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating on the stock in a research note on Friday, July 11th. Sixteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, ConocoPhillips presently has a consensus rating of "Moderate Buy" and an average price target of $120.95.

ConocoPhillips Trading Up 1.9%

NYSE COP traded up $1.8440 on Friday, reaching $96.6240. 6,338,392 shares of the company were exchanged, compared to its average volume of 6,789,525. The business's fifty day moving average price is $93.80 and its 200 day moving average price is $93.23. The stock has a market capitalization of $120.68 billion, a P/E ratio of 12.97, a price-to-earnings-growth ratio of 2.53 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. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week 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 for the quarter, topping analysts' consensus estimates of $1.36 by $0.06. The company had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The firm's revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.98 earnings per share. Analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

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

Insiders Place Their Bets

In related news, EVP Kirk L. Johnson acquired 5,300 shares of the stock in a transaction 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 completion of the purchase, the executive vice president owned 14,527 shares of the company's stock, valued at approximately $1,369,024.48. This represents a 57.44% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.24% of the company's stock.

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.