Brookstone Capital Management increased its position in ConocoPhillips (NYSE:COP – Get Rating) by 7.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,074 shares of the energy producer’s stock after acquiring an additional 753 shares during the period. Brookstone Capital Management’s holdings in ConocoPhillips were worth $957,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the company. Crossvault Capital Management LLC increased its holdings in shares of ConocoPhillips by 1.7% in the 1st quarter. Crossvault Capital Management LLC now owns 6,120 shares of the energy producer’s stock worth $612,000 after acquiring an additional 100 shares during the period. Ballew Advisors Inc increased its holdings in shares of ConocoPhillips by 1.5% in the 1st quarter. Ballew Advisors Inc now owns 7,005 shares of the energy producer’s stock worth $702,000 after acquiring an additional 103 shares during the period. Parkside Financial Bank & Trust increased its holdings in shares of ConocoPhillips by 2.1% in the 1st quarter. Parkside Financial Bank & Trust now owns 5,163 shares of the energy producer’s stock worth $516,000 after acquiring an additional 105 shares during the period. Greenwich Wealth Management LLC grew its position in ConocoPhillips by 2.9% in the 1st quarter. Greenwich Wealth Management LLC now owns 3,851 shares of the energy producer’s stock valued at $385,000 after buying an additional 107 shares in the last quarter. Finally, Rosenberg Matthew Hamilton grew its position in ConocoPhillips by 1.1% in the 1st quarter. Rosenberg Matthew Hamilton now owns 11,076 shares of the energy producer’s stock valued at $1,108,000 after buying an additional 116 shares in the last quarter. Institutional investors and hedge funds own 79.66% of the company’s stock.
Insider Activity at ConocoPhillips
In related news, EVP Nicholas G. Olds sold 10,950 shares of the firm’s stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $116.52, for a total transaction of $1,275,894.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.40% of the company’s stock.
ConocoPhillips Price Performance
ConocoPhillips (NYSE:COP – Get Rating) last posted its quarterly earnings results on Thursday, August 4th. The energy producer reported $3.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.95 by ($0.04). ConocoPhillips had a return on equity of 31.24% and a net margin of 23.10%. During the same quarter in the previous year, the business earned $1.27 earnings per share. Equities research analysts predict that ConocoPhillips will post 14.54 earnings per share for the current fiscal year.
ConocoPhillips Dividend Announcement
The firm also recently disclosed a None dividend, which was paid on Thursday, September 1st. Investors of record on Tuesday, August 16th were given a dividend of $1.40 per share. The ex-dividend date was Thursday, September 29th. ConocoPhillips’s payout ratio is presently 15.19%.
Analysts Set New Price Targets
COP has been the subject of a number of recent analyst reports. Morgan Stanley increased their target price on shares of ConocoPhillips from $117.00 to $118.00 and gave the company an “overweight” rating in a research report on Monday, August 29th. Barclays raised their price objective on shares of ConocoPhillips from $142.00 to $153.00 and gave the company an “overweight” rating in a research report on Wednesday, August 31st. Societe Generale raised their price objective on shares of ConocoPhillips to $127.00 in a research report on Thursday, June 9th. Mizuho reduced their price objective on shares of ConocoPhillips from $148.00 to $138.00 and set a “buy” rating for the company in a research report on Thursday, August 18th. Finally, Truist Financial reduced their price objective on shares of ConocoPhillips from $126.00 to $123.00 and set a “buy” rating for the company in a research report on Wednesday, July 13th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $121.79.
ConocoPhillips Company Profile
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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