Outlook Capital Management LLC Buys Shares of 80,045 ConocoPhillips $COP

Key Points

• Outlook Capital Management bought 80,045 ConocoPhillips shares worth approximately $8.3 million, making COP about 2.7% of its portfolio and its seventh-largest holding.
• Institutional investors own 82.36% of ConocoPhillips, while analysts maintain a “Moderate Buy” consensus with an average price target of $140.29.
• ConocoPhillips exceeded quarterly earnings and revenue estimates, reporting $3.24 EPS and $19.52 billion in revenue. The company also maintains a quarterly dividend of $0.84 per share, equivalent to a 2.5% yield.

Outlook Capital Management LLC bought a new stake in ConocoPhillips (NYSE:COP - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 80,045 shares of the energy producer's stock, valued at approximately $8,321,000. ConocoPhillips makes up approximately 2.7% of Outlook Capital Management LLC's investment portfolio, making the stock its 7th largest position.

Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. increased its holdings in shares of ConocoPhillips by 3.0% in the 2nd quarter. BlackRock Inc. now owns 93,886,457 shares of the energy producer's stock valued at $9,760,436,000 after purchasing an additional 2,712,703 shares during the period. Capital International Investors boosted its holdings in shares of ConocoPhillips by 5.9% during the fourth quarter. Capital International Investors now owns 48,360,060 shares of the energy producer's stock worth $4,527,230,000 after purchasing an additional 2,714,663 shares during the period. Charles Schwab Investment Management Inc. grew its position in ConocoPhillips by 6.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 41,450,162 shares of the energy producer's stock valued at $3,880,151,000 after purchasing an additional 2,350,645 shares in the last quarter. Wellington Management Group LLP increased its stake in ConocoPhillips by 12.0% in the 2nd quarter. Wellington Management Group LLP now owns 15,072,154 shares of the energy producer's stock valued at $1,566,901,000 after buying an additional 1,609,759 shares during the period. Finally, Franklin Resources Inc. lifted its position in ConocoPhillips by 4.5% in the 4th quarter. Franklin Resources Inc. now owns 15,038,675 shares of the energy producer's stock worth $1,407,770,000 after buying an additional 648,432 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on COP shares. Wells Fargo & Company lifted their target price on shares of ConocoPhillips from $183.00 to $189.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Truist Financial increased their price objective on ConocoPhillips from $115.00 to $130.00 and gave the stock a "hold" rating in a report on Monday, August 10th. Jefferies Financial Group lifted their price objective on ConocoPhillips from $160.00 to $161.00 and gave the company 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 research note on Wednesday, August 19th. Finally, Capital One Financial dropped their target price on ConocoPhillips from $156.00 to $154.00 and set an "equal weight" rating on the stock in a research report on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $140.29.

Insider Activity at ConocoPhillips

In other news, SVP Andrew Lundquist sold 9,487 shares of the company's 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 transaction, the senior vice president directly owned 9,593 shares in the company, valued at $1,296,493.95. The trade was a 49.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is currently owned by company insiders.

ConocoPhillips Stock Down 1.1%

ConocoPhillips stock opened at $134.23 on Friday. The firm has a market cap of $161.26 billion, a price-to-earnings ratio of 17.76, a P/E/G ratio of 1.43 and a beta of 0.13. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.39. ConocoPhillips has a fifty-two week low of $85.57 and a fifty-two week high of $137.42. The firm has a fifty day moving average price of $120.15 and a two-hundred day moving average price of $119.44.

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

ConocoPhillips Dividend Announcement

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

ConocoPhillips 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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