Range Financial Group LLC Purchases 192 Shares of ConocoPhillips (NYSE:COP)

Range Financial Group LLC increased its position in ConocoPhillips (NYSE:COP) by 10.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,075 shares of the energy producer’s stock after purchasing an additional 192 shares during the period. Range Financial Group LLC’s holdings in ConocoPhillips were worth $237,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. International Assets Investment Management LLC lifted its stake 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 acquiring an additional 1,644 shares in the last quarter. Gilbert & Cook Inc. lifted its stake in ConocoPhillips by 3.7% during the 4th quarter. Gilbert & Cook Inc. now owns 13,438 shares of the energy producer’s stock valued at $1,560,000 after acquiring an additional 483 shares in the last quarter. Wealthspire Advisors LLC lifted its stake in ConocoPhillips by 81.2% during the 4th quarter. Wealthspire Advisors LLC now owns 8,665 shares of the energy producer’s stock valued at $1,006,000 after acquiring an additional 3,884 shares in the last quarter. Wrapmanager Inc. lifted its stake in ConocoPhillips by 7.6% during the 4th quarter. Wrapmanager Inc. now owns 4,703 shares of the energy producer’s stock valued at $546,000 after acquiring an additional 331 shares in the last quarter. Finally, Principal Securities Inc. purchased a new stake in shares of ConocoPhillips during the 4th quarter valued at $1,874,000. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock opened at $107.45 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19. The business’s 50 day simple moving average is $111.37 and its two-hundred day simple moving average is $116.98. The stock has a market capitalization of $124.78 billion, a P/E ratio of 12.17, a price-to-earnings-growth ratio of 0.85 and a beta of 1.22. ConocoPhillips has a one year low of $102.27 and a one year high of $135.18.

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 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 firm had revenue of $14.14 billion for the quarter, compared to analysts’ expectations of $14.96 billion. During the same period in the previous year, the firm earned $1.84 earnings per share. The business’s revenue was up 9.7% compared to the same quarter last year. Analysts forecast that ConocoPhillips will post 8.5 EPS for the current year.

ConocoPhillips Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were paid a dividend of $0.58 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.32 annualized dividend and a dividend yield of 2.16%. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.27%.

Insider Buying and Selling

In related news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction on 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 sale, the director now directly owns 455,909 shares of the company’s stock, valued at $49,288,321.99. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.34% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on COP. Truist Financial decreased their target price on ConocoPhillips from $147.00 to $145.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. UBS Group raised their target price on ConocoPhillips from $151.00 to $153.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Sanford C. Bernstein decreased their target price on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. Scotiabank decreased their price objective on ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Finally, StockNews.com lowered ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average price target of $143.24.

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.