ConocoPhillips (NYSE:COP) Shares Bought by Quarry LP

Quarry LP grew its stake in ConocoPhillips (NYSE:COP) by 513.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,264 shares of the energy producer’s stock after purchasing an additional 1,058 shares during the period. Quarry LP’s holdings in ConocoPhillips were worth $145,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of COP. Cooksen Wealth LLC acquired a new position in shares of ConocoPhillips in the fourth quarter valued at approximately $27,000. Stephens Consulting LLC increased its holdings in shares of ConocoPhillips by 69.3% in the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 104 shares during the period. Richardson Capital Management LLC acquired a new position in shares of ConocoPhillips in the first quarter valued at approximately $31,000. Northwest Bank & Trust Co acquired a new position in shares of ConocoPhillips in the fourth quarter valued at approximately $32,000. Finally, Ruedi Wealth Management Inc. increased its holdings in shares of ConocoPhillips by 150.0% in the first quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock valued at $32,000 after purchasing an additional 150 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Buying and Selling

In related news, Director Timothy A. Leach sold 55,500 shares of the stock in a transaction dated 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 transaction, the director now directly owns 455,909 shares in the company, valued at $49,288,321.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.34% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Wells Fargo & Company dropped their price objective on ConocoPhillips from $150.00 to $132.00 and set an “overweight” rating on the stock in a report on Friday. Truist Financial dropped their price objective on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a report on Monday. Sanford C. Bernstein dropped their price objective on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Wolfe Research assumed coverage on ConocoPhillips in a report on Thursday, July 18th. They set an “outperform” rating and a $145.00 price objective on the stock. Finally, Argus raised ConocoPhillips to a “strong-buy” rating in a report on Friday, June 7th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.82.

ConocoPhillips Stock Up 0.5 %

Shares of NYSE:COP opened at $105.28 on Tuesday. 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 stock’s fifty day simple moving average is $108.71 and its 200-day simple moving average is $116.20. The company has a market capitalization of $123.13 billion, a P/E ratio of 11.92, a P/E/G ratio of 0.85 and a beta of 1.22.

ConocoPhillips (NYSE:COP) last issued 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 the consensus estimate of $14.96 billion. During the same period in the prior year, the business earned $1.84 earnings per share. The business’s revenue was up 9.7% on a year-over-year basis. As a group, equities research analysts forecast that ConocoPhillips will post 8.14 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were given a dividend of $0.58 per share. The ex-dividend date was Monday, August 12th. This represents a $2.32 annualized dividend and a yield of 2.20%. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.27%.

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.