Stratos Investment Management LLC Purchases 6,572 Shares of ConocoPhillips (NYSE:COP)

Stratos Investment Management LLC increased its position in shares of ConocoPhillips (NYSE:COP) by 29.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,520 shares of the energy producer’s stock after acquiring an additional 6,572 shares during the quarter. Stratos Investment Management LLC’s holdings in ConocoPhillips were worth $2,995,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of COP. Murphy & Mullick Capital Management Corp bought a new position in ConocoPhillips in the fourth quarter valued at approximately $26,000. 10Elms LLP bought a new position in ConocoPhillips in the fourth quarter valued at approximately $28,000. Crowley Wealth Management Inc. bought a new position in ConocoPhillips in the fourth quarter valued at approximately $32,000. Garde Capital Inc. bought a new position in ConocoPhillips in the first quarter valued at approximately $35,000. Finally, Rakuten Securities Inc. lifted its stake in ConocoPhillips by 222.0% in the fourth quarter. Rakuten Securities Inc. now owns 380 shares of the energy producer’s stock valued at $38,000 after buying an additional 262 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

COP has been the topic of a number of recent research reports. Scotiabank lowered their price objective on shares of ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating on the stock in a report on Friday, April 11th. Royal Bank Of Canada lowered their price objective on shares of ConocoPhillips from $120.00 to $115.00 and set an “outperform” rating on the stock in a report on Friday, May 30th. Piper Sandler lifted their price objective on shares of ConocoPhillips from $107.00 to $113.00 and gave the company an “overweight” rating in a report on Wednesday, July 2nd. Morgan Stanley lifted their price objective on shares of ConocoPhillips from $116.00 to $118.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $109.00 price objective (up from $103.00) on shares of ConocoPhillips in a report on Tuesday, May 20th. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $121.80.

Insider Activity

In other ConocoPhillips news, EVP Kirk L. Johnson bought 5,300 shares of ConocoPhillips stock in a transaction dated Monday, June 16th. The stock was bought at an average price of $94.24 per share, with a total value of $499,472.00. Following the completion of the transaction, the executive vice president owned 14,527 shares in the company, valued at $1,369,024.48. The trade was a 57.44% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.24% of the company’s stock.

ConocoPhillips Trading Down 1.2%

COP stock opened at $92.56 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.27 and a quick ratio of 1.13. The company has a fifty day moving average price of $90.22 and a two-hundred day moving average price of $94.78. ConocoPhillips has a one year low of $79.88 and a one year high of $118.40. The stock has a market cap of $117.01 billion, a price-to-earnings ratio of 11.76, a price-to-earnings-growth ratio of 2.53 and a beta of 0.61.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.05 by $0.04. The company had revenue of $16.18 billion during the quarter, compared to analysts’ expectations of $15.74 billion. ConocoPhillips had a net margin of 16.02% and a return on equity of 16.54%. During the same quarter in the previous year, the business posted $2.05 earnings per share. Equities analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were given a $0.78 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.37%. ConocoPhillips’s payout ratio is presently 39.64%.

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, 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.