Parkside Investments LLC lifted its holdings in ConocoPhillips (NYSE:COP – Free Report) by 2.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 107,110 shares of the energy producer’s stock after buying an additional 2,175 shares during the period. ConocoPhillips comprises 2.1% of Parkside Investments LLC’s holdings, making the stock its 12th largest holding. Parkside Investments LLC’s holdings in ConocoPhillips were worth $11,098,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in COP. Wealthspan Partners LLC raised its holdings in ConocoPhillips by 1.6% during the 4th quarter. Wealthspan Partners LLC now owns 6,245 shares of the energy producer’s stock valued at $737,000 after buying an additional 98 shares during the period. Horan Securities Inc. lifted its holdings in shares of ConocoPhillips by 40.2% in the 1st quarter. Horan Securities Inc. now owns 349 shares of the energy producer’s stock worth $35,000 after acquiring an additional 100 shares during the last quarter. Barden Capital Management Inc. raised its position in ConocoPhillips by 1.0% in the 1st quarter. Barden Capital Management Inc. now owns 10,562 shares of the energy producer’s stock worth $1,048,000 after purchasing an additional 100 shares during the period. Holderness Investments Co. increased its stake in ConocoPhillips by 1.5% in the 1st quarter. Holderness Investments Co. now owns 6,882 shares of the energy producer’s stock worth $683,000 after buying an additional 101 shares during the period. Finally, LCM Capital Management Inc lifted its holdings in shares of ConocoPhillips by 5.3% in the 1st quarter. LCM Capital Management Inc now owns 2,036 shares of the energy producer’s stock worth $202,000 after buying an additional 103 shares during the period. 80.36% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CEO Ryan Michael Lance sold 569,400 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $122.14, for a total value of $69,546,516.00. Following the sale, the chief executive officer now directly owns 18,187 shares in the company, valued at approximately $2,221,360.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.37% of the company’s stock.
ConocoPhillips Price Performance
ConocoPhillips (NYSE:COP – Get Free Report) last posted its quarterly earnings results on Thursday, August 3rd. The energy producer reported $1.84 EPS for the quarter, missing the consensus estimate of $1.94 by ($0.10). ConocoPhillips had a return on equity of 27.27% and a net margin of 18.66%. The company had revenue of $12.88 billion for the quarter, compared to analysts’ expectations of $14.64 billion. During the same quarter in the prior year, the firm earned $3.91 EPS. On average, research analysts predict that ConocoPhillips will post 8.87 earnings per share for the current year.
ConocoPhillips Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Wednesday, August 16th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Wednesday, September 27th. This represents a $2.04 annualized dividend and a dividend yield of 1.63%. ConocoPhillips’s dividend payout ratio is presently 19.65%.
Analysts Set New Price Targets
Several equities analysts have recently commented on the company. Wolfe Research upgraded ConocoPhillips from a “peer perform” rating to an “outperform” rating and set a $120.00 price target on the stock in a research note on Friday, July 7th. Jefferies Financial Group reduced their price target on ConocoPhillips from $143.00 to $141.00 and set a “buy” rating for the company in a research report on Monday, August 28th. Erste Group Bank raised ConocoPhillips from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. Truist Financial upped their price target on ConocoPhillips from $148.00 to $151.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $124.00 price objective on shares of ConocoPhillips in a research report on Wednesday, July 19th. Five investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $134.42.
ConocoPhillips Company 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 and internationally. 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 global exploration prospects.
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