Pure Financial Advisors LLC lessened its stake in ConocoPhillips (NYSE:COP – Free Report) by 7.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,090 shares of the energy producer’s stock after selling 161 shares during the quarter. Pure Financial Advisors LLC’s holdings in ConocoPhillips were worth $217,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Jackson Grant Investment Advisers Inc. raised its stake in ConocoPhillips by 398.1% in the first quarter. Jackson Grant Investment Advisers Inc. now owns 269 shares of the energy producer’s stock valued at $27,000 after purchasing an additional 215 shares in the last quarter. Fairfield Bush & CO. bought a new position in ConocoPhillips in the first quarter valued at about $31,000. Financial Connections Group Inc. grew its position in ConocoPhillips by 383.3% in the fourth quarter. Financial Connections Group Inc. now owns 290 shares of the energy producer’s stock valued at $34,000 after acquiring an additional 230 shares during the last quarter. NewSquare Capital LLC grew its position in ConocoPhillips by 335.4% in the first quarter. NewSquare Capital LLC now owns 344 shares of the energy producer’s stock valued at $34,000 after acquiring an additional 265 shares during the last quarter. Finally, Horan Securities Inc. grew its position in ConocoPhillips by 40.2% in the first quarter. Horan Securities Inc. now owns 349 shares of the energy producer’s stock valued at $35,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 80.36% of the company’s stock.
ConocoPhillips Stock Performance
Shares of COP stock opened at $123.57 on Friday. The business’s 50 day simple moving average is $116.22 and its 200 day simple moving average is $107.24. ConocoPhillips has a one year low of $91.53 and a one year high of $138.49. The stock has a market capitalization of $147.97 billion, a PE ratio of 11.90, a PEG ratio of 0.78 and a beta of 1.30. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.28.
ConocoPhillips Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Thursday, September 28th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend is Wednesday, September 27th. ConocoPhillips’s dividend payout ratio (DPR) is presently 19.65%.
Insider Buying and Selling at ConocoPhillips
In other ConocoPhillips news, CEO Ryan Michael Lance sold 569,400 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $122.14, for a total value of $69,546,516.00. Following the transaction, the chief executive officer now directly owns 18,187 shares of the company’s stock, valued at $2,221,360.18. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.37% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on the company. Erste Group Bank upgraded ConocoPhillips from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. StockNews.com assumed coverage on ConocoPhillips in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $130.00 target price on shares of ConocoPhillips in a research report on Monday, August 14th. Jefferies Financial Group reduced their price target on ConocoPhillips from $143.00 to $141.00 and set a “buy” rating on the stock in a report on Monday, August 28th. Finally, Truist Financial boosted their price target on ConocoPhillips from $148.00 to $151.00 and gave the stock a “buy” rating in a report on Friday, August 4th. Five research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and an average price target of $134.42.
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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