Empowered Funds LLC raised its stake in ConocoPhillips (NYSE:COP – Get Rating) by 195.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,948 shares of the energy producer’s stock after acquiring an additional 19,795 shares during the quarter. Empowered Funds LLC’s holdings in ConocoPhillips were worth $2,995,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Two Sigma Investments LP raised its stake in shares of ConocoPhillips by 50.6% during the 3rd quarter. Two Sigma Investments LP now owns 8,732 shares of the energy producer’s stock worth $592,000 after buying an additional 2,932 shares during the period. Patriot Financial Group Insurance Agency LLC raised its stake in shares of ConocoPhillips by 24.3% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 8,212 shares of the energy producer’s stock worth $593,000 after buying an additional 1,607 shares during the period. Brookstone Capital Management raised its stake in shares of ConocoPhillips by 55.1% during the 4th quarter. Brookstone Capital Management now owns 8,483 shares of the energy producer’s stock worth $684,000 after buying an additional 3,012 shares during the period. DNB Asset Management AS raised its stake in shares of ConocoPhillips by 57.7% during the 4th quarter. DNB Asset Management AS now owns 255,865 shares of the energy producer’s stock worth $18,468,000 after buying an additional 93,637 shares during the period. Finally, Legacy Private Trust Co. raised its stake in shares of ConocoPhillips by 3.6% during the 4th quarter. Legacy Private Trust Co. now owns 48,709 shares of the energy producer’s stock worth $3,516,000 after buying an additional 1,715 shares during the period. 78.80% of the stock is owned by institutional investors.
In related news, Director Timothy A. Leach sold 40,603 shares of the stock in a transaction dated Thursday, May 19th. The stock was sold at an average price of $102.33, for a total transaction of $4,154,904.99. Following the transaction, the director now owns 666,002 shares of the company’s stock, valued at approximately $68,151,984.66. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Ryan Michael Lance sold 584,900 shares of the stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $121.21, for a total value of $70,895,729.00. Following the transaction, the chief executive officer now directly owns 44,522 shares in the company, valued at approximately $5,396,511.62. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 644,703 shares of company stock valued at $77,172,426. Company insiders own 0.08% of the company’s stock.
Shares of NYSE:COP opened at $90.98 on Friday. The company has a quick ratio of 1.41, a current ratio of 1.51 and a debt-to-equity ratio of 0.36. The business has a fifty day moving average of $103.71 and a two hundred day moving average of $95.27. The stock has a market cap of $117.68 billion, a P/E ratio of 9.38, a PEG ratio of 0.31 and a beta of 1.40. ConocoPhillips has a 52-week low of $51.41 and a 52-week high of $124.08.
ConocoPhillips (NYSE:COP – Get Rating) last released its quarterly earnings results on Thursday, May 5th. The energy producer reported $3.27 earnings per share for the quarter, topping analysts’ consensus estimates of $3.24 by $0.03. The business had revenue of $19.29 billion during the quarter, compared to analysts’ expectations of $18.36 billion. ConocoPhillips had a return on equity of 24.89% and a net margin of 22.52%. The company’s revenue was up 82.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.69 EPS. On average, equity analysts anticipate that ConocoPhillips will post 15 earnings per share for the current year.
The firm also recently declared a dividend, which will be paid on Friday, July 15th. Stockholders of record on Tuesday, June 28th will be issued a dividend of $0.70 per share. The ex-dividend date is Monday, June 27th. This is a boost from ConocoPhillips’ previous dividend of $0.30. This represents a dividend yield of 3.21%. ConocoPhillips’s dividend payout ratio is currently 18.97%.
COP has been the subject of several research analyst reports. Mizuho raised their target price on ConocoPhillips from $150.00 to $157.00 and gave the stock a “buy” rating in a research note on Tuesday, May 31st. StockNews.com upgraded ConocoPhillips from a “hold” rating to a “buy” rating in a research report on Saturday, May 14th. The Goldman Sachs Group dropped their price target on ConocoPhillips from $140.00 to $123.00 and set a “buy” rating for the company in a research report on Wednesday, June 22nd. Susquehanna boosted their price target on ConocoPhillips from $108.00 to $129.00 in a research report on Monday, April 25th. Finally, Susquehanna Bancshares boosted their price target on ConocoPhillips from $108.00 to $129.00 in a research report on Monday, April 25th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $119.56.
About ConocoPhillips: (Get Rating)
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. The company’s portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.
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