Liberty Wealth Management LLC Purchases Shares of 11,327 ConocoPhillips (NYSE:COP)

Key Points

• Liberty Wealth Management LLC purchased 11,327 shares of ConocoPhillips, valued at approximately $1.19 million, marking its new stake in the company.
• ConocoPhillips reported strong quarterly earnings of $2.09 per share, surpassing analysts' expectations and generating $16.18 billion in revenue.
• The company announced a quarterly dividend of $0.78 per share, representing an annual yield of 3.4%, and has a payout ratio of 39.64%.

Liberty Wealth Management LLC acquired a new position in shares of ConocoPhillips (NYSE:COP - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 11,327 shares of the energy producer's stock, valued at approximately $1,190,000.

Several other hedge funds also recently added to or reduced their stakes in COP. 10Elms LLP acquired a new stake in shares of ConocoPhillips in the fourth quarter valued at approximately $28,000. Garde Capital Inc. acquired a new stake in shares of ConocoPhillips during the 1st quarter valued at approximately $35,000. IMA Advisory Services Inc. purchased a new position in shares of ConocoPhillips in the first quarter valued at $37,000. Fourth Dimension Wealth LLC acquired a new position in ConocoPhillips during the fourth quarter worth about $39,000. Finally, MorganRosel Wealth Management LLC purchased a new position in ConocoPhillips during the first quarter worth $42,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Stock Down 2.7%

Shares of COP stock opened at $92.75 on Monday. The business's fifty day moving average is $91.97 and its 200-day moving average is $93.99. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $116.08. The stock has a market cap of $117.25 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 2.41 and a beta of 0.67. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.13 and a current ratio of 1.27.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.04. The company had revenue of $16.18 billion for the quarter, compared to analysts' expectations of $15.74 billion. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. During the same quarter in the prior year, the company earned $2.05 earnings per share. Equities analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips's payout ratio is 39.64%.

Insiders Place Their Bets

In related news, EVP Kirk L. Johnson acquired 5,300 shares of the company's stock in a transaction on Monday, June 16th. The shares were purchased at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the purchase, the executive vice president owned 14,527 shares in the company, valued at $1,369,024.48. This represents a 57.44% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.24% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

COP has been the topic of several recent analyst reports. UBS Group upped their price objective on shares of ConocoPhillips from $111.00 to $115.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Raymond James Financial upped their price target on shares of ConocoPhillips from $109.00 to $117.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Morgan Stanley reaffirmed an "overweight" rating and set a $119.00 price target on shares of ConocoPhillips in a report on Tuesday, July 15th. Barclays decreased their price target on shares of ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Finally, Piper Sandler reiterated an "overweight" rating and issued a $123.00 price target (up from $113.00) on shares of ConocoPhillips in a report on Tuesday, July 15th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat, ConocoPhillips presently has an average rating of "Moderate Buy" and a consensus price target of $121.33.

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.

Want to see what other hedge funds are holding COP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ConocoPhillips (NYSE:COP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.