ConocoPhillips $COP Shares Acquired by Level Four Advisory Services LLC

Key Points

• Level Four Advisory Services LLC increased its holdings in ConocoPhillips by 16.8%, owning 82,362 shares valued at approximately $8.65 million following additional purchases in the first quarter.
• ConocoPhillips reported earnings of $1.42 per share, exceeding analyst estimates, and received a dividend of $0.78 per share scheduled for payout on September 2nd.
• Analysts have a generally positive outlook on ConocoPhillips, with an average rating of "Moderate Buy" and a target price of around $120.89 for the stock.

Level Four Advisory Services LLC raised its position in ConocoPhillips (NYSE:COP - Free Report) by 16.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 82,362 shares of the energy producer's stock after purchasing an additional 11,825 shares during the quarter. Level Four Advisory Services LLC's holdings in ConocoPhillips were worth $8,650,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. 10Elms LLP purchased a new stake in ConocoPhillips in the 4th quarter worth about $28,000. Financial Network Wealth Advisors LLC raised its position 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 during the period. Stone House Investment Management LLC purchased a new stake in ConocoPhillips in the 1st quarter worth about $31,000. Garde Capital Inc. purchased a new stake in ConocoPhillips in the 1st quarter worth about $35,000. Finally, IMA Advisory Services Inc. purchased a new stake in ConocoPhillips in the 1st quarter worth about $37,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

COP has been the subject of several research analyst reports. Raymond James Financial lifted their price target on shares of ConocoPhillips from $109.00 to $117.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. Scotiabank lifted their price target on shares of ConocoPhillips from $95.00 to $100.00 and gave the company a "sector perform" rating in a research note on Friday, July 11th. Morgan Stanley reaffirmed an "overweight" rating and set a $123.00 price target (up previously from $119.00) on shares of ConocoPhillips in a research note on Sunday, August 10th. Melius Research initiated coverage on shares of ConocoPhillips in a research note on Wednesday. They set a "hold" rating and a $117.00 price target for the company. Finally, Piper Sandler lifted their price target on shares of ConocoPhillips from $123.00 to $124.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. Sixteen equities 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, the stock currently has an average rating of "Moderate Buy" and an average price target of $120.95.

ConocoPhillips Stock Up 1.9%

NYSE:COP traded up $1.8440 during trading hours on Friday, reaching $96.6240. The company's stock had a trading volume of 6,338,392 shares, compared to its average volume of 6,789,525. The company has a market capitalization of $120.68 billion, a P/E ratio of 12.97, a price-to-earnings-growth ratio of 2.48 and a beta of 0.67. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $116.08. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. The stock has a 50 day moving average price of $93.80 and a two-hundred day moving average price of $93.28.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 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 company had revenue of $14.94 billion during the quarter, compared to the consensus estimate of $14.39 billion. During the same quarter in the previous year, the firm posted $1.98 earnings per share. ConocoPhillips's revenue for the quarter was up 4.3% compared to the same quarter last year. Equities analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be given 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 dividend yield of 3.2%. ConocoPhillips's dividend payout ratio is presently 41.88%.

Insider Activity

In other ConocoPhillips news, EVP Kirk L. Johnson purchased 5,300 shares of ConocoPhillips stock in a transaction dated Monday, June 16th. The shares were acquired at an average cost of $94.24 per share, with a total value of $499,472.00. Following the completion of the transaction, the executive vice president owned 14,527 shares in the company, valued at approximately $1,369,024.48. This trade represents a 57.44% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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.