Advisor Resource Council Purchases New Holdings in ConocoPhillips (NYSE:COP)

Advisor Resource Council purchased a new stake in ConocoPhillips (NYSE:COP) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 10,908 shares of the energy producer’s stock, valued at approximately $1,131,000.

A number of other hedge funds and other institutional investors have also modified their holdings of COP. Murphy & Mullick Capital Management Corp acquired a new stake in ConocoPhillips during the 4th quarter worth $26,000. Centricity Wealth Management LLC acquired a new stake in ConocoPhillips during the 4th quarter worth $27,000. 10Elms LLP acquired a new stake in ConocoPhillips during the 4th quarter worth $28,000. Crowley Wealth Management Inc. acquired a new stake in ConocoPhillips during the 4th quarter worth $32,000. Finally, Marshall Investment Management LLC acquired a new stake in ConocoPhillips during the 4th quarter worth $36,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

COP has been the subject of several research analyst reports. Barclays decreased their price target on shares of ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. UBS Group decreased their price target on shares of ConocoPhillips from $116.00 to $111.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Bank of America decreased their price target on shares of ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating for the company in a report on Friday, May 23rd. Royal Bank Of Canada decreased their price target on shares of ConocoPhillips from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Friday, May 30th. Finally, Piper Sandler decreased their price target on shares of ConocoPhillips from $114.00 to $107.00 and set an “overweight” rating for the company in a report on Tuesday, May 13th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus price target of $121.30.

ConocoPhillips Stock Up 1.0%

Shares of COP stock opened at $94.76 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.13 and a current ratio of 1.27. The firm’s 50-day moving average is $89.65 and its 200-day moving average is $95.52. The stock has a market cap of $119.79 billion, a price-to-earnings ratio of 12.04, a PEG ratio of 2.54 and a beta of 0.61. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $118.40.

ConocoPhillips (NYSE:COP) last issued its 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 company had revenue of $16.18 billion for the quarter, compared to analysts’ expectations of $15.74 billion. ConocoPhillips had a net margin of 16.02% and a return on equity of 16.54%. During the same period in the prior year, the firm earned $2.05 EPS. Sell-side analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a $0.78 dividend. 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 payout ratio is 39.64%.

Insider Buying and Selling at ConocoPhillips

In related news, EVP Kirk L. Johnson purchased 5,300 shares of the stock in a transaction on Monday, June 16th. The shares were purchased at an average cost of $94.24 per share, with a total value of $499,472.00. Following the acquisition, the executive vice president now directly owns 14,527 shares in the company, valued at $1,369,024.48. The trade was a 57.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.24% of the company’s stock.

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.