Texas Yale Capital Corp. Increases Stock Position in ConocoPhillips (NYSE:COP)

Key Points

• Texas Yale Capital Corp. significantly increased its position in ConocoPhillips by 698.1% in the first quarter, acquiring a total of 22,914 shares valued at approximately $2.4 million.
• Wall Street analysts maintain a positive outlook for ConocoPhillips, with a consensus rating of "Moderate Buy" and an average price target of $121.33.
• ConocoPhillips declared a quarterly dividend of $0.78 per share, representing an annualized payment of $3.12 and a yield of 3.29%.

Texas Yale Capital Corp. raised its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 698.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,914 shares of the energy producer's stock after buying an additional 20,043 shares during the quarter. Texas Yale Capital Corp.'s holdings in ConocoPhillips were worth $2,406,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. 10Elms LLP purchased a new position in ConocoPhillips during the fourth quarter valued at $28,000. Garde Capital Inc. purchased a new position in ConocoPhillips during the first quarter valued at $35,000. IMA Advisory Services Inc. purchased a new position in ConocoPhillips during the first quarter valued at $37,000. Fourth Dimension Wealth LLC purchased a new position in ConocoPhillips during the fourth quarter valued at $39,000. Finally, MorganRosel Wealth Management LLC purchased a new position in ConocoPhillips during the first quarter valued at $42,000. Hedge funds and other institutional investors own 82.36% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on COP shares. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $117.00 price target (up previously from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. Mizuho lowered their price target on ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Scotiabank lifted their price target on ConocoPhillips from $95.00 to $100.00 and gave the stock a "sector perform" rating in a research report on Friday, July 11th. Piper Sandler reaffirmed an "overweight" rating and issued a $123.00 price target (up previously from $113.00) on shares of ConocoPhillips in a research report on Tuesday, July 15th. Finally, Royal Bank Of Canada lowered their price target on ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating for the company in a research report on Friday, July 11th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat.com, ConocoPhillips presently has a consensus rating of "Moderate Buy" and an average target price of $121.33.

Insider Activity

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

ConocoPhillips Price Performance

NYSE COP opened at $94.96 on Monday. ConocoPhillips has a one year low of $79.88 and a one year high of $116.08. The stock has a 50-day moving average of $91.14 and a 200 day moving average of $94.29. The company has a market capitalization of $120.04 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 2.47 and a beta of 0.61. 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 released its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.05 by $0.04. The business had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. During the same period in the previous year, the company posted $2.05 EPS. On average, sell-side analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently declared 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. The ex-dividend date was Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.29%. ConocoPhillips's dividend payout ratio is currently 39.64%.

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.

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