McAlvany Wealth Management LLC Acquires 3,642 Shares of ConocoPhillips $COP

McAlvany Wealth Management LLC lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 7.5% during the 3rd quarter, Holdings Channel reports. The firm owned 52,353 shares of the energy producer’s stock after purchasing an additional 3,642 shares during the period. ConocoPhillips makes up 3.2% of McAlvany Wealth Management LLC’s holdings, making the stock its 6th largest holding. McAlvany Wealth Management LLC’s holdings in ConocoPhillips were worth $6,552,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in COP. Carolina Wealth Advisors LLC bought a new stake in shares of ConocoPhillips in the third quarter valued at approximately $28,000. Frazier Financial Advisors LLC increased its position in shares of ConocoPhillips by 151.0% in the first quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock worth $32,000 after purchasing an additional 145 shares during the period. William Mack & Associates Inc. bought a new position in shares of ConocoPhillips in the third quarter worth $34,000. Ballast Advisors LLC acquired a new position in ConocoPhillips in the first quarter valued at about $36,000. Finally, Evergreen Advisors LLC acquired a new position in ConocoPhillips in the first quarter valued at about $36,000. 82.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Freedom Capital upgraded shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. Jefferies Financial Group lifted their price objective on shares of ConocoPhillips from $159.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, October 6th. Mizuho lowered their price objective on shares of ConocoPhillips from $150.00 to $146.00 and set an “outperform” rating for the company in a research report on Tuesday, July 7th. Weiss Ratings upgraded shares of ConocoPhillips from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, September 29th. Finally, Barclays cut their target price on ConocoPhillips from $155.00 to $150.00 and set an “overweight” rating for the company in a research note on Monday, August 17th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $145.08.

ConocoPhillips Stock Down 4.7%

COP stock opened at $146.76 on Tuesday. The stock has a market capitalization of $176.30 billion, a P/E ratio of 19.41, a price-to-earnings-growth ratio of 1.45 and a beta of 0.24. The company has a current ratio of 1.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 12 month low of $85.57 and a 12 month high of $154.28. The firm has a 50-day moving average price of $136.37 and a 200-day moving average price of $121.30.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.90 by $0.34. The company had revenue of $19.52 billion for the quarter, compared to analyst estimates of $18.79 billion. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The firm’s revenue was up 32.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.42 EPS. As a group, equities research analysts anticipate that ConocoPhillips will post 11.41 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were issued a dividend of $0.84 per share. The ex-dividend date was Monday, August 17th. This represents a $3.36 annualized dividend and a dividend yield of 2.3%. ConocoPhillips’s dividend payout ratio is 44.44%.

Insider Buying and Selling

In other news, SVP Andrew Lundquist sold 9,487 shares of ConocoPhillips stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the sale, the senior vice president directly owned 9,593 shares of the company’s stock, valued at approximately $1,296,493.95. This trade represents a 49.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.09% of the company’s stock.

ConocoPhillips Company Profile

ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged in finding, developing and producing oil, natural gas and natural gas liquids. Unlike integrated energy companies, it primarily focuses on upstream activities rather than operating large refining or retail fuel businesses.

The company’s portfolio includes conventional and unconventional oil and natural gas assets, liquefied natural gas-related interests, oil sands operations and other energy resources.