Providence Capital Advisors LLC Acquires 7,300 Shares of ConocoPhillips $COP

Key Points

• Providence Capital Advisors LLC increased its stake in ConocoPhillips by 14.1%, owning approximately $6.21 million worth of shares, making it the 28th largest position in their investment portfolio.
• ConocoPhillips reported $1.42 earnings per share for the last quarter, exceeding analysts' estimates of $1.36, along with a 15.26% net margin and a revenue of $14.94 billion.
• The company also announced a quarterly dividend of $0.78, which translates to an annualized dividend yield of 3.3%, payable to shareholders on September 2nd.

Providence Capital Advisors LLC grew its holdings in ConocoPhillips (NYSE:COP - Free Report) by 14.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,100 shares of the energy producer's stock after acquiring an additional 7,300 shares during the quarter. ConocoPhillips accounts for 1.3% of Providence Capital Advisors LLC's portfolio, making the stock its 28th largest holding. Providence Capital Advisors LLC's holdings in ConocoPhillips were worth $6,207,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. 10Elms LLP bought a new position in shares of ConocoPhillips during the fourth quarter valued at $28,000. Financial Network Wealth Advisors LLC lifted its holdings in shares of ConocoPhillips by 341.5% during the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer's stock valued at $30,000 after acquiring an additional 222 shares during the period. Stone House Investment Management LLC acquired a new stake in shares of ConocoPhillips in the first quarter valued at $31,000. Garde Capital Inc. acquired a new stake in shares of ConocoPhillips in the first quarter valued at $35,000. Finally, IMA Advisory Services Inc. acquired a new stake in shares of ConocoPhillips in the first quarter valued at $37,000. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Price Performance

NYSE:COP traded down $1.33 during trading hours on Monday, hitting $94.00. The company's stock had a trading volume of 4,848,380 shares, compared to its average volume of 6,800,250. The stock has a fifty day simple moving average of $93.61 and a 200-day simple moving average of $93.35. The company has a market capitalization of $117.40 billion, a P/E ratio of 12.62, a PEG ratio of 2.48 and a beta of 0.67. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $116.08.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its earnings results on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.36 by $0.06. The firm had revenue of $14.94 billion during the quarter, compared to the consensus estimate of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%. The business's quarterly revenue was up 4.3% on a year-over-year basis. During the same period last year, the company earned $1.98 earnings per share. On average, analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th will be given a $0.78 dividend. The ex-dividend date is Monday, August 18th. This represents a $3.12 annualized dividend and a yield of 3.3%. ConocoPhillips's dividend payout ratio (DPR) is currently 41.88%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on COP. UBS Group raised their target price on ConocoPhillips from $111.00 to $115.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Royal Bank Of Canada lowered their price objective on ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating for the company in a research report on Friday, July 11th. Scotiabank lifted their price objective on ConocoPhillips from $95.00 to $100.00 and gave the stock a "sector perform" rating in a research report on Friday, July 11th. Susquehanna lowered their price objective on ConocoPhillips from $114.00 to $113.00 and set a "positive" rating for the company in a research report on Wednesday, July 23rd. Finally, Mizuho lowered 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. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, ConocoPhillips has a consensus rating of "Moderate Buy" and a consensus price target of $120.89.

Insider Buying and Selling

In other news, EVP Kirk L. Johnson bought 5,300 shares of the company's stock in a transaction on Monday, June 16th. The stock was purchased at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the completion of the transaction, the executive vice president owned 14,527 shares of the company's stock, valued at $1,369,024.48. This trade represents a 57.44% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.24% of the company's stock.

About ConocoPhillips

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.