AE Wealth Management LLC Grows Position in ConocoPhillips (NYSE:COP)

AE Wealth Management LLC lifted its holdings in ConocoPhillips (NYSE:COP) by 6.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,342 shares of the energy producer’s stock after buying an additional 1,995 shares during the period. AE Wealth Management LLC’s holdings in ConocoPhillips were worth $3,699,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Gilbert & Cook Inc. increased its holdings in shares of ConocoPhillips by 3.7% in the fourth quarter. Gilbert & Cook Inc. now owns 13,438 shares of the energy producer’s stock valued at $1,560,000 after purchasing an additional 483 shares during the last quarter. SageView Advisory Group LLC raised its holdings in shares of ConocoPhillips by 196.5% during the 4th quarter. SageView Advisory Group LLC now owns 9,846 shares of the energy producer’s stock worth $1,123,000 after acquiring an additional 6,525 shares during the period. Sepio Capital LP boosted its position in shares of ConocoPhillips by 12.6% during the 4th quarter. Sepio Capital LP now owns 2,471 shares of the energy producer’s stock valued at $287,000 after acquiring an additional 276 shares during the last quarter. Westfield Capital Management Co. LP grew its holdings in shares of ConocoPhillips by 6.1% in the fourth quarter. Westfield Capital Management Co. LP now owns 43,368 shares of the energy producer’s stock valued at $5,034,000 after purchasing an additional 2,492 shares during the period. Finally, Nations Financial Group Inc. IA ADV increased its position in ConocoPhillips by 7.6% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 10,922 shares of the energy producer’s stock worth $1,268,000 after purchasing an additional 772 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on COP. Truist Financial decreased their target price on shares of ConocoPhillips from $147.00 to $145.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Mizuho lowered their price objective on ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. UBS Group reduced their target price on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Bank of America reiterated a “buy” rating and set a $147.00 price target on shares of ConocoPhillips in a report on Friday, June 14th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $140.00 price objective on shares of ConocoPhillips in a report on Friday, September 13th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $142.29.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $109.87 on Monday. 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 has a 52-week low of $101.29 and a 52-week high of $135.18. The firm has a market cap of $127.59 billion, a PE ratio of 12.44, a price-to-earnings-growth ratio of 0.80 and a beta of 1.22. The company’s 50 day moving average is $109.76 and its two-hundred day moving average is $116.60.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.02. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The business had revenue of $14.14 billion for the quarter, compared to analysts’ expectations of $14.96 billion. During the same period last year, the firm earned $1.84 earnings per share. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, research analysts expect that ConocoPhillips will post 8.41 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s dividend payout ratio is presently 26.27%.

Insider Buying and Selling

In related news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the transaction, the director now owns 455,909 shares in the company, valued at $49,288,321.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.34% of the company’s stock.

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.