Foundations Investment Advisors LLC lessened its position in shares of ConocoPhillips (NYSE:COP – Get Rating) by 4.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,428 shares of the energy producer’s stock after selling 530 shares during the quarter. Foundations Investment Advisors LLC’s holdings in ConocoPhillips were worth $1,158,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Delos Wealth Advisors LLC grew its holdings in ConocoPhillips by 1,300.0% during the 4th quarter. Delos Wealth Advisors LLC now owns 378 shares of the energy producer’s stock valued at $27,000 after buying an additional 351 shares in the last quarter. DeDora Capital Inc. purchased a new position in shares of ConocoPhillips in the 1st quarter worth approximately $39,000. Lenox Wealth Advisors LLC boosted its holdings in shares of ConocoPhillips by 435.6% in the 4th quarter. Lenox Wealth Advisors LLC now owns 482 shares of the energy producer’s stock worth $35,000 after purchasing an additional 392 shares during the period. Pittenger & Anderson Inc. boosted its holdings in shares of ConocoPhillips by 49.9% in the 4th quarter. Pittenger & Anderson Inc. now owns 526 shares of the energy producer’s stock worth $38,000 after purchasing an additional 175 shares during the period. Finally, Tyler Stone Wealth Management purchased a new position in shares of ConocoPhillips in the 4th quarter worth approximately $47,000. Institutional investors and hedge funds own 78.80% of the company’s stock.
In related news, Director Timothy A. Leach sold 40,603 shares of the business’s stock in a transaction on 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 directly owns 666,002 shares in the company, valued at approximately $68,151,984.66. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Ryan Michael Lance sold 584,900 shares of the business’s stock in a transaction on 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 owns 44,522 shares in the company, valued at $5,396,511.62. The disclosure for this sale can be found here. Over the last three months, insiders sold 644,703 shares of company stock valued at $77,172,426. Corporate insiders own 0.40% of the company’s stock.
COP opened at $91.46 on Thursday. The firm has a market cap of $118.30 billion, a price-to-earnings ratio of 9.43, a PEG ratio of 0.32 and a beta of 1.34. The company has a current ratio of 1.51, a quick ratio of 1.41 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 12 month low of $51.41 and a 12 month high of $124.08. The stock has a fifty-day moving average price of $103.99 and a 200-day moving average price of $94.83.
ConocoPhillips (NYSE:COP – Get Rating) last released its quarterly earnings results on Thursday, May 5th. The energy producer reported $3.27 EPS for the quarter, topping the consensus estimate of $3.24 by $0.03. The firm had revenue of $19.29 billion during the quarter, compared to analyst estimates of $18.36 billion. ConocoPhillips had a return on equity of 24.89% and a net margin of 22.52%. The business’s revenue for the quarter was up 82.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.69 EPS. On average, equity research analysts forecast that ConocoPhillips will post 15 EPS for the current year.
The business also recently declared a dividend, which will be paid on Friday, July 15th. Stockholders of record on Tuesday, June 28th will be given a $0.70 dividend. This represents a dividend yield of 3.21%. This is a positive change from ConocoPhillips’ previous dividend of $0.30. The ex-dividend date of this dividend is Monday, June 27th. ConocoPhillips’s payout ratio is currently 18.97%.
A number of equity analysts have recently commented on the company. Royal Bank of Canada lifted their target price on ConocoPhillips from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, March 7th. Morgan Stanley dropped their target price on ConocoPhillips from $120.00 to $118.00 and set an “overweight” rating for the company in a report on Monday, June 6th. Mizuho lifted their target price on ConocoPhillips from $150.00 to $157.00 and gave the stock a “buy” rating in a report on Tuesday, May 31st. Bank of America cut ConocoPhillips from a “buy” rating to a “neutral” rating and raised their target price for the stock from $110.00 to $135.00 in a report on Tuesday, March 8th. Finally, Raymond James boosted their price objective on ConocoPhillips from $120.00 to $160.00 and gave the company a “strong-buy” rating in a report on Monday, April 25th. Three research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $112.76.
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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