Catalyst Financial Partners LLC Buys 261 Shares of ConocoPhillips (NYSE:COP)

Catalyst Financial Partners LLC increased its stake in ConocoPhillips (NYSE:COP) by 5.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,721 shares of the energy producer’s stock after purchasing an additional 261 shares during the period. Catalyst Financial Partners LLC’s holdings in ConocoPhillips were worth $497,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of ConocoPhillips during the third quarter worth about $58,000. Diversify Wealth Management LLC boosted its position in ConocoPhillips by 7.3% during the 3rd quarter. Diversify Wealth Management LLC now owns 3,106 shares of the energy producer’s stock worth $325,000 after acquiring an additional 212 shares during the last quarter. Pinnacle Associates Ltd. grew its stake in shares of ConocoPhillips by 1.2% during the 3rd quarter. Pinnacle Associates Ltd. now owns 93,574 shares of the energy producer’s stock worth $10,861,000 after acquiring an additional 1,108 shares in the last quarter. First Trust Direct Indexing L.P. raised its holdings in shares of ConocoPhillips by 10.7% in the third quarter. First Trust Direct Indexing L.P. now owns 33,036 shares of the energy producer’s stock valued at $3,478,000 after purchasing an additional 3,190 shares during the last quarter. Finally, GSB Wealth Management LLC bought a new position in ConocoPhillips in the third quarter valued at $215,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of COP opened at $106.00 on Thursday. The business has a 50-day simple moving average of $108.02 and a two-hundred day simple moving average of $113.20. ConocoPhillips has a 12-month low of $101.29 and a 12-month high of $135.18. The stock has a market cap of $123.09 billion, a PE ratio of 11.49, a PEG ratio of 0.85 and a beta of 1.21. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.02. The business had revenue of $14.14 billion for the quarter, compared to analysts’ expectations of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.84 earnings per share. Analysts anticipate that ConocoPhillips will post 7.85 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be paid a dividend of $0.78 per share. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.94%. ConocoPhillips’s dividend payout ratio is currently 25.86%.

Insider Transactions at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the sale, the director now directly owns 455,909 shares in the company, valued at approximately $49,288,321.99. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on COP shares. BMO Capital Markets upped their target price on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 price objective on shares of ConocoPhillips in a report on Friday, September 13th. Sanford C. Bernstein dropped their target price on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. Scotiabank reduced their target price on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $126.00 price target (down from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $136.94.

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.