Strathmore Capital Advisors Inc. Acquires Shares of 3,325 ConocoPhillips $COP

Key Points

• Strathmore Capital Advisors Inc. invested approximately $314,000 in ConocoPhillips, acquiring 3,325 shares during the second quarter.
• ConocoPhillips reported earnings of $1.42 EPS for the last quarter, exceeding expectations, with a year-over-year revenue increase of 4.3%.
• The company recently announced a quarterly dividend of $0.78 per share, representing an annualized dividend yield of 3.3%.

Strathmore Capital Advisors Inc. acquired a new position in shares of ConocoPhillips (NYSE:COP - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,325 shares of the energy producer's stock, valued at approximately $314,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Elevation Point Wealth Partners LLC raised 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 stake in 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 acquiring an additional 30,000 shares during the last quarter. Aberdeen Group plc increased its stake in 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 acquiring an additional 264,726 shares during the last quarter. ORG Wealth Partners LLC increased its stake in 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 acquiring an additional 5,922 shares during the last quarter. Finally, Hennessy Advisors Inc. increased its stake in ConocoPhillips by 151.1% in the first quarter. Hennessy Advisors Inc. now owns 91,224 shares of the energy producer's stock valued at $9,580,000 after acquiring an additional 54,900 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on COP shares. UBS Group lifted their price objective on shares of ConocoPhillips from $116.00 to $124.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. Wall Street Zen cut shares of ConocoPhillips from a "hold" rating to a "sell" rating in a research note on Friday, August 22nd. Piper Sandler boosted their target price on shares of ConocoPhillips from $123.00 to $124.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $117.00 target price (up previously from $113.00) on shares of ConocoPhillips in a research note on Thursday, June 26th. Finally, Royal Bank Of Canada decreased their target price on shares of 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 issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $120.62.

ConocoPhillips Trading Down 1.7%

COP stock traded down $1.59 during midday trading on Friday, hitting $91.89. The stock had a trading volume of 15,283,514 shares, compared to its average volume of 5,903,118. The firm has a market cap of $114.77 billion, a P/E ratio of 12.33, a price-to-earnings-growth ratio of 2.46 and a beta of 0.69. 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 1-year low of $79.88 and a 1-year high of $116.08. The business has a fifty day moving average price of $94.59 and a two-hundred day moving average price of $92.91.

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

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Monday, August 18th. ConocoPhillips's dividend payout ratio is presently 41.88%.

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.