Kelleher Financial Advisors Invests $202,000 in ConocoPhillips (NYSE:COP)

Kelleher Financial Advisors acquired a new stake in ConocoPhillips (NYSE:COP) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,946 shares of the energy producer’s stock, valued at approximately $202,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Boston Partners increased its stake in ConocoPhillips by 18.3% in the 2nd quarter. Boston Partners now owns 3,981,397 shares of the energy producer’s stock valued at $414,620,000 after purchasing an additional 615,415 shares in the last quarter. Schwartz Investment Counsel Inc. raised its stake in shares of ConocoPhillips by 15.5% during the 2nd quarter. Schwartz Investment Counsel Inc. now owns 119,000 shares of the energy producer’s stock worth $12,330,000 after buying an additional 16,000 shares during the last quarter. HCR Wealth Advisors boosted its position in shares of ConocoPhillips by 5.9% in the 2nd quarter. HCR Wealth Advisors now owns 34,743 shares of the energy producer’s stock worth $3,600,000 after buying an additional 1,928 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new stake in ConocoPhillips in the 2nd quarter valued at about $38,209,000. Finally, National Wealth Management Group LLC purchased a new position in ConocoPhillips during the 2nd quarter valued at about $639,000. Hedge funds and other institutional investors own 80.36% of the company’s stock.

ConocoPhillips Trading Up 1.3 %

NYSE COP opened at $113.40 on Friday. ConocoPhillips has a one year low of $91.53 and a one year high of $130.55. The company’s 50 day moving average price is $119.85 and its 200 day moving average price is $112.23. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.53 and a current ratio of 1.66. The firm has a market capitalization of $134.65 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 0.70 and a beta of 1.28.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, November 14th will be issued a $0.58 dividend. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Monday, November 13th. This represents a $2.32 annualized dividend and a yield of 2.05%. ConocoPhillips’s dividend payout ratio (DPR) is presently 25.36%.

Insider Activity at ConocoPhillips

In related news, Director Timothy A. Leach sold 44,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $114.64, for a total value of $5,044,160.00. Following the transaction, the director now owns 578,748 shares in the company, valued at $66,347,670.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Timothy A. Leach sold 44,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $114.64, for a total value of $5,044,160.00. Following the transaction, the director now owns 578,748 shares in the company, valued at $66,347,670.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ryan Michael Lance sold 569,400 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $122.14, for a total transaction of $69,546,516.00. Following the completion of the sale, the chief executive officer now directly owns 18,187 shares of the company’s stock, valued at approximately $2,221,360.18. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 646,049 shares of company stock worth $78,636,116. Company insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on COP. Morgan Stanley lifted their price objective on ConocoPhillips from $124.00 to $125.00 and gave the stock an “overweight” rating in a research report on Monday, October 2nd. Raymond James reduced their price objective on ConocoPhillips from $142.00 to $138.00 and set a “strong-buy” rating on the stock in a research report on Monday, July 24th. Bank of America lifted their price objective on ConocoPhillips from $145.00 to $150.00 in a research report on Wednesday, September 27th. Erste Group Bank upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating in a report on Friday, September 8th. Finally, Truist Financial lifted their price target on shares of ConocoPhillips from $151.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, September 18th. Five analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $136.35.

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.