Wealth Alliance Advisory Group LLC Acquires 5,972 Shares of ConocoPhillips $COP

Key Points

• Wealth Alliance Advisory Group LLC increased its stake in ConocoPhillips by 30% during Q2, owning a total of 25,856 shares valued at approximately $2.32 million.
• ConocoPhillips announced a quarterly dividend of $0.78, representing a yield of 3.4%, with a payout ratio of 41.88%.
• Analysts have a consensus rating of "Moderate Buy" for ConocoPhillips, with a target price averaging $120.86.

Wealth Alliance Advisory Group LLC raised its holdings in ConocoPhillips (NYSE:COP - Free Report) by 30.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,856 shares of the energy producer's stock after buying an additional 5,972 shares during the quarter. Wealth Alliance Advisory Group LLC's holdings in ConocoPhillips were worth $2,320,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Elevation Point Wealth Partners LLC grew its position in shares of ConocoPhillips by 83.0% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 18,060 shares of the energy producer's stock worth $1,897,000 after buying an additional 8,189 shares during the last quarter. Schwartz Investment Counsel Inc. grew its position in shares of ConocoPhillips by 159.6% in the 1st quarter. Schwartz Investment Counsel Inc. now owns 48,800 shares of the energy producer's stock worth $5,125,000 after buying an additional 30,000 shares during the last quarter. Aberdeen Group plc grew its position in shares of ConocoPhillips by 49.3% in the 1st quarter. Aberdeen Group plc now owns 801,426 shares of the energy producer's stock worth $83,969,000 after buying an additional 264,726 shares during the last quarter. ORG Wealth Partners LLC grew its position in shares of ConocoPhillips by 853.3% in the 1st quarter. ORG Wealth Partners LLC now owns 6,616 shares of the energy producer's stock worth $698,000 after buying an additional 5,922 shares during the last quarter. Finally, Hennessy Advisors Inc. grew its position in shares of ConocoPhillips by 151.1% in the 1st quarter. Hennessy Advisors Inc. now owns 91,224 shares of the energy producer's stock worth $9,580,000 after buying an additional 54,900 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Kirk L. Johnson bought 5,300 shares of the company's stock in a transaction on Monday, June 16th. The shares were acquired at an average cost of $94.24 per share, with a total value of $499,472.00. Following the completion of the acquisition, the executive vice president owned 14,527 shares of the company's stock, valued at $1,369,024.48. The trade was a 57.44% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.24% of the company's stock.

ConocoPhillips Trading Down 1.6%

ConocoPhillips stock opened at $92.60 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The business's fifty day simple moving average is $94.75 and its two-hundred day simple moving average is $92.95. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $116.08. The company has a market capitalization of $115.65 billion, a price-to-earnings ratio of 12.43, a price-to-earnings-growth ratio of 2.48 and a beta of 0.69.

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

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips's payout ratio is 41.88%.

Wall Street Analysts Forecast Growth

COP has been the topic of a number of recent analyst reports. Susquehanna cut their price objective on ConocoPhillips from $114.00 to $113.00 and set a "positive" rating on the stock in a research report on Wednesday, July 23rd. Roth Capital restated a "buy" rating on shares of ConocoPhillips in a research report on Wednesday, September 3rd. Scotiabank lifted their price target on ConocoPhillips from $95.00 to $100.00 and gave the company a "sector perform" rating in a research report on Friday, July 11th. Melius Research began coverage on ConocoPhillips in a research report on Wednesday, August 20th. They set a "hold" rating and a $117.00 price target on the stock. Finally, UBS Group lifted their price target on ConocoPhillips from $116.00 to $124.00 and gave the company a "buy" rating in a research report on Wednesday, August 20th. Sixteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $120.86.

ConocoPhillips 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.

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