ConocoPhillips (NYSE:COP) Shares Bought by Brighton Jones LLC

Brighton Jones LLC boosted its stake in shares of ConocoPhillips (NYSE:COP) by 9.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 14,990 shares of the energy producer’s stock after purchasing an additional 1,275 shares during the quarter. Brighton Jones LLC’s holdings in ConocoPhillips were worth $1,715,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in COP. Cooksen Wealth LLC purchased a new stake in shares of ConocoPhillips during the 4th quarter worth about $27,000. Richardson Capital Management LLC purchased a new stake in shares of ConocoPhillips during the 1st quarter worth about $31,000. Cape Investment Advisory Inc. boosted its stake in shares of ConocoPhillips by 96.0% during the 4th quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock worth $29,000 after acquiring an additional 121 shares in the last quarter. Ruedi Wealth Management Inc. boosted its stake in shares of ConocoPhillips by 150.0% during the 1st quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock worth $32,000 after acquiring an additional 150 shares in the last quarter. Finally, Stephens Consulting LLC boosted its stake in shares of ConocoPhillips by 69.3% during the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after acquiring an additional 104 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

COP has been the topic of several recent analyst reports. Barclays increased their target price on shares of ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Truist Financial lowered their target price 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. Argus raised shares of ConocoPhillips to a “strong-buy” rating in a research note on Friday, June 7th. Sanford C. Bernstein decreased their price target on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. Finally, Mizuho decreased their price target on shares of ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $142.29.

ConocoPhillips Trading Down 0.4 %

COP opened at $110.08 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 company’s 50 day simple moving average is $109.76 and its two-hundred day simple moving average is $116.53. ConocoPhillips has a 1-year low of $101.29 and a 1-year high of $135.18. The firm has a market capitalization of $127.83 billion, a price-to-earnings ratio of 12.47, a price-to-earnings-growth ratio of 0.80 and a beta of 1.22.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $14.96 billion. During the same period last year, the company posted $1.84 EPS. The business’s revenue was up 9.7% on a year-over-year basis. Analysts expect that ConocoPhillips will post 8.41 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were issued a dividend of $0.58 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.11%. ConocoPhillips’s dividend payout ratio is currently 26.27%.

Insider Transactions at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of the firm’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 transaction of $6,000,105.00. Following the completion of the sale, the director now owns 455,909 shares in the company, valued at approximately $49,288,321.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.34% of the company’s stock.

About ConocoPhillips

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.