Orleans Capital Management Corp LA Boosts Position in ConocoPhillips (NYSE:COP)

Orleans Capital Management Corp LA raised its stake in ConocoPhillips (NYSE:COP) by 0.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,465 shares of the energy producer’s stock after purchasing an additional 210 shares during the period. ConocoPhillips accounts for about 1.6% of Orleans Capital Management Corp LA’s holdings, making the stock its 24th biggest position. Orleans Capital Management Corp LA’s holdings in ConocoPhillips were worth $2,570,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Eagle Asset Management Inc. raised its stake in ConocoPhillips by 0.7% during the 4th quarter. Eagle Asset Management Inc. now owns 30,912 shares of the energy producer’s stock valued at $3,588,000 after acquiring an additional 208 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of ConocoPhillips by 4.4% in the fourth quarter. Jones Financial Companies Lllp now owns 8,170 shares of the energy producer’s stock valued at $948,000 after acquiring an additional 348 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in ConocoPhillips by 2.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 2,215,678 shares of the energy producer’s stock worth $257,176,000 after purchasing an additional 43,485 shares in the last quarter. CWA Asset Management Group LLC lifted its position in ConocoPhillips by 24.2% in the fourth quarter. CWA Asset Management Group LLC now owns 2,638 shares of the energy producer’s stock valued at $306,000 after purchasing an additional 514 shares during the period. Finally, NEOS Investment Management LLC increased its position in ConocoPhillips by 33.2% during the 4th quarter. NEOS Investment Management LLC now owns 16,912 shares of the energy producer’s stock worth $1,963,000 after purchasing an additional 4,212 shares during the period. 82.36% of the stock is owned by hedge funds and other institutional investors.

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 shares were sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the sale, the director now owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

COP has been the topic of a number of recent analyst reports. StockNews.com lowered ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Truist Financial reduced their price objective on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a report on Monday. Argus upgraded ConocoPhillips to a “strong-buy” rating in a report on Friday, June 7th. Bank of America reiterated a “buy” rating and issued a $147.00 target price on shares of ConocoPhillips in a research note on Friday, June 14th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 price target on shares of ConocoPhillips in a research note on Friday, September 13th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $140.82.

ConocoPhillips Stock Up 0.5 %

Shares of NYSE COP opened at $105.28 on Tuesday. The stock has a fifty day moving average price of $108.71 and a 200 day moving average price of $116.20. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 12-month low of $101.29 and a 12-month high of $135.18. The company has a market cap 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 posted its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.02. The business had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.84 earnings per share. Research analysts anticipate that ConocoPhillips will post 8.14 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The company also recently announced 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. The ex-dividend date was Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.20%. ConocoPhillips’s payout ratio is currently 26.27%.

ConocoPhillips Company 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.