AlphaMark Advisors LLC Raises Stock Position in ConocoPhillips (NYSE:COP)

AlphaMark Advisors LLC lifted its holdings in ConocoPhillips (NYSE:COP) by 41.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 445 shares of the energy producer’s stock after buying an additional 130 shares during the quarter. AlphaMark Advisors LLC’s holdings in ConocoPhillips were worth $51,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC grew its position in ConocoPhillips by 20.7% during the 4th quarter. International Assets Investment Management LLC now owns 9,600 shares of the energy producer’s stock valued at $1,114,000 after purchasing an additional 1,644 shares during the last quarter. Tennessee Valley Asset Management Partners bought a new position in shares of ConocoPhillips in the 4th quarter worth approximately $74,000. SVB Wealth LLC lifted its stake in shares of ConocoPhillips by 16.5% in the 4th quarter. SVB Wealth LLC now owns 24,464 shares of the energy producer’s stock worth $2,840,000 after purchasing an additional 3,466 shares during the period. Avior Wealth Management LLC raised its stake in ConocoPhillips by 3.2% during the 4th quarter. Avior Wealth Management LLC now owns 25,860 shares of the energy producer’s stock worth $3,002,000 after acquiring an additional 809 shares during the period. Finally, Sfmg LLC raised its stake in ConocoPhillips by 1.1% during the 4th quarter. Sfmg LLC now owns 47,477 shares of the energy producer’s stock worth $5,511,000 after acquiring an additional 510 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 dated Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the sale, the director now directly owns 455,909 shares in the company, valued at $49,288,321.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

ConocoPhillips Trading Up 1.7 %

Shares of NYSE:COP traded up $1.87 on Thursday, hitting $111.20. 6,306,957 shares of the company’s stock were exchanged, compared to its average volume of 5,722,940. ConocoPhillips has a 12 month low of $102.27 and a 12 month high of $135.18. The stock has a market capitalization of $129.13 billion, a price-to-earnings ratio of 12.59, a price-to-earnings-growth ratio of 2.16 and a beta of 1.24. The business’s 50 day simple moving average is $111.57 and its two-hundred day simple moving average is $116.98. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $14.96 billion. During the same period last year, the company earned $1.84 earnings per share. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. Analysts anticipate that ConocoPhillips will post 8.68 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Monday, August 12th. This represents a $2.32 annualized dividend and a dividend yield of 2.09%. ConocoPhillips’s dividend payout ratio (DPR) is 26.27%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on COP shares. Raymond James restated a “strong-buy” rating and set a $159.00 target price (up previously from $155.00) on shares of ConocoPhillips in a research note on Thursday, May 30th. 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 research note on Friday, August 2nd. Wolfe Research assumed coverage on shares of ConocoPhillips in a report on Thursday, July 18th. They set an “outperform” rating and a $145.00 price objective for the company. Piper Sandler increased their price objective on shares of ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Finally, Bank of America reaffirmed a “buy” rating and set a $147.00 price objective on shares of ConocoPhillips in a report on Friday, June 14th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus target price of $143.53.

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.