Hamilton Capital LLC Buys Shares of 8,949 ConocoPhillips $COP

Hamilton Capital LLC purchased a new stake in shares of ConocoPhillips (NYSE:COP) during the second quarter, HoldingsChannel.com reports. The fund purchased 8,949 shares of the energy producer’s stock, valued at approximately $930,000.

A number of other large investors have also recently made changes to their positions in COP. AXA S.A. lifted its position in ConocoPhillips by 91.1% during the second quarter. AXA S.A. now owns 84,937 shares of the energy producer’s stock valued at $7,622,000 after purchasing an additional 40,499 shares during the period. Sei Investments Co. grew its position in ConocoPhillips by 6.1% in the 2nd quarter. Sei Investments Co. now owns 784,368 shares of the energy producer’s stock worth $70,397,000 after purchasing an additional 44,852 shares during the period. BNP Paribas bought a new stake in ConocoPhillips in the 2nd quarter worth approximately $33,000. Osterweis Capital Management Inc. purchased a new stake in ConocoPhillips during the 2nd quarter valued at $151,000. Finally, Main Street Financial Solutions LLC raised its stake in ConocoPhillips by 53.5% during the 2nd quarter. Main Street Financial Solutions LLC now owns 4,806 shares of the energy producer’s stock valued at $431,000 after buying an additional 1,675 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on COP shares. Freedom Capital upgraded ConocoPhillips from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Argus upped their price objective on ConocoPhillips from $136.00 to $153.00 and gave the company a “buy” rating in a research report on Wednesday, August 19th. Barclays lowered their target price on ConocoPhillips from $155.00 to $150.00 and set an “overweight” rating on the stock in a report on Monday, August 17th. Weiss Ratings raised ConocoPhillips from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 6th. Finally, Truist Financial boosted their price target on ConocoPhillips from $115.00 to $130.00 and gave the company a “hold” rating in a research note on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.29.

ConocoPhillips Trading Down 0.8%

Shares of ConocoPhillips stock opened at $129.57 on Friday. ConocoPhillips has a 1-year low of $85.57 and a 1-year high of $135.88. The company’s fifty day simple moving average is $116.97 and its 200-day simple moving average is $118.48. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.39. The stock has a market capitalization of $155.66 billion, a PE ratio of 17.14, a P/E/G ratio of 1.38 and a beta of 0.11.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, topping the consensus estimate of $2.90 by $0.34. The firm had revenue of $19.52 billion during the quarter, compared to analyst estimates of $18.79 billion. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.During the same period in the prior year, the business posted $1.42 EPS. ConocoPhillips’s revenue was up 32.4% on a year-over-year basis. As a group, equities analysts anticipate that ConocoPhillips will post 10.55 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Monday, August 17th. ConocoPhillips’s payout ratio is currently 44.44%.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, SVP Andrew D. Lundquist sold 9,487 shares of the company’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $135.15, for a total value of $1,282,168.05. Following the completion of the sale, the senior vice president owned 9,593 shares in the company, valued at $1,296,493.95. This represents a 49.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

About ConocoPhillips

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.