CoreCap Advisors LLC Invests $1.81 Million in ConocoPhillips (NYSE:COP)

CoreCap Advisors LLC acquired a new stake in shares of ConocoPhillips (NYSE:COP) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 15,846 shares of the energy producer’s stock, valued at approximately $1,813,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in COP. Sachetta LLC purchased a new position in shares of ConocoPhillips during the fourth quarter worth about $27,000. Cooksen Wealth LLC bought a new stake in ConocoPhillips during the fourth quarter valued at approximately $27,000. Cape Investment Advisory Inc. grew its stake in ConocoPhillips by 96.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock worth $29,000 after buying an additional 121 shares in the last quarter. Stephens Consulting LLC increased its holdings in shares of ConocoPhillips by 69.3% in the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after buying an additional 104 shares during the last quarter. Finally, Richardson Capital Management LLC purchased a new stake in shares of ConocoPhillips during the 1st quarter valued at $31,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on COP. StockNews.com cut ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Susquehanna decreased their price objective on ConocoPhillips from $154.00 to $147.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Scotiabank cut their target price on ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. Truist Financial decreased their price target 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. Finally, Raymond James reaffirmed a “strong-buy” rating and set a $159.00 target price (up previously from $155.00) on shares of ConocoPhillips in a report on Thursday, May 30th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and an average target price of $143.24.

ConocoPhillips Trading Up 0.3 %

NYSE COP opened at $102.91 on Friday. The stock has a market cap of $119.50 billion, a P/E ratio of 11.65, a price-to-earnings-growth ratio of 0.78 and a beta of 1.22. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. The stock has a 50 day simple moving average of $110.34 and a two-hundred day simple moving average of $116.73. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The business had revenue of $14.14 billion for the quarter, compared to analysts’ expectations of $14.96 billion. During the same quarter in the previous year, the business posted $1.84 earnings per share. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, analysts forecast that ConocoPhillips will post 8.41 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were issued a $0.58 dividend. The ex-dividend date was Monday, August 12th. This represents a $2.32 annualized dividend and a yield of 2.25%. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.27%.

Insiders Place Their Bets

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the transaction, the director now owns 455,909 shares in the company, valued at approximately $49,288,321.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.34% of the stock is currently owned by company insiders.

ConocoPhillips 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.