Foundations Investment Advisors LLC Grows Holdings in ConocoPhillips (NYSE:COP)

Foundations Investment Advisors LLC raised its position in ConocoPhillips (NYSE:COP) by 5.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,012 shares of the energy producer’s stock after buying an additional 673 shares during the period. Foundations Investment Advisors LLC’s holdings in ConocoPhillips were worth $1,374,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Sachetta LLC acquired a new stake in ConocoPhillips in the fourth quarter valued at $27,000. Cooksen Wealth LLC acquired a new stake in shares of ConocoPhillips in the 4th quarter valued at about $27,000. Cape Investment Advisory Inc. lifted its position in shares of ConocoPhillips by 96.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock worth $29,000 after purchasing an additional 121 shares during the last quarter. Stephens Consulting LLC grew its stake in ConocoPhillips by 69.3% in the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after purchasing an additional 104 shares in the last quarter. Finally, Richardson Capital Management LLC bought a new stake in ConocoPhillips in the first quarter valued at about $31,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Trading Down 1.0 %

NYSE:COP opened at $107.45 on Friday. ConocoPhillips has a 1 year low of $102.27 and a 1 year high of $135.18. The business has a fifty day moving average of $111.37 and a 200-day moving average of $116.98. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33. The stock has a market cap of $124.78 billion, a price-to-earnings ratio of 12.17, a PEG ratio of 0.85 and a beta of 1.22.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, topping the consensus estimate of $1.96 by $0.02. The firm had revenue of $14.14 billion for the quarter, compared to analysts’ expectations of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.84 earnings per share. Equities analysts predict that ConocoPhillips will post 8.5 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s payout ratio is 26.27%.

Wall Street Analyst Weigh In

COP has been the subject of several research reports. Raymond James reiterated a “strong-buy” rating and issued a $159.00 target price (up previously from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Argus upgraded shares of ConocoPhillips to a “strong-buy” rating in a research note on Friday, June 7th. Wells Fargo & Company reduced their price target on shares of ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Truist Financial decreased their price target on shares of ConocoPhillips from $147.00 to $145.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Finally, Royal Bank of Canada increased their price objective on shares of ConocoPhillips from $135.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 15th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.24.

Insider Activity

In related news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were 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 in the company, valued at approximately $49,288,321.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.34% of the company’s stock.

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.