AlphaStar Capital Management LLC Has $415,000 Stock Holdings in ConocoPhillips (NYSE:COP)

AlphaStar Capital Management LLC lessened its position in ConocoPhillips (NYSE:COP) by 21.4% during the first quarter, Holdings Channel reports. The institutional investor owned 3,950 shares of the energy producer’s stock after selling 1,077 shares during the quarter. AlphaStar Capital Management LLC’s holdings in ConocoPhillips were worth $415,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in COP. Murphy & Mullick Capital Management Corp acquired a new position in shares of ConocoPhillips during the 4th quarter worth approximately $26,000. 10Elms LLP acquired a new position in shares of ConocoPhillips during the 4th quarter worth approximately $28,000. Crowley Wealth Management Inc. acquired a new position in shares of ConocoPhillips during the 4th quarter worth approximately $32,000. Garde Capital Inc. bought a new position in shares of ConocoPhillips during the 1st quarter worth approximately $35,000. Finally, Rakuten Securities Inc. boosted its stake in shares of ConocoPhillips by 222.0% during the 4th quarter. Rakuten Securities Inc. now owns 380 shares of the energy producer’s stock worth $38,000 after acquiring an additional 262 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on COP. Piper Sandler lifted their target price on ConocoPhillips from $107.00 to $113.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 2nd. Bank of America reduced their price target on ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating for the company in a research note on Friday, May 23rd. Scotiabank reduced their price target on ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating for the company in a research note on Friday, April 11th. Mizuho reduced their price target on ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating for the company in a research note on Tuesday, May 13th. Finally, Royal Bank Of Canada cut their target price on ConocoPhillips from $120.00 to $115.00 and set an “outperform” rating for the company in a research report on Friday, May 30th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $121.80.

ConocoPhillips Price Performance

Shares of COP opened at $95.71 on Wednesday. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $118.40. The business has a 50-day simple moving average of $90.30 and a two-hundred day simple moving average of $94.79. The company has a quick ratio of 1.13, a current ratio of 1.27 and a debt-to-equity ratio of 0.36. The stock has a market cap of $120.99 billion, a PE ratio of 12.16, a PEG ratio of 2.50 and a beta of 0.61.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 16.54% and a net margin of 16.02%. During the same quarter in the prior year, the firm posted $2.05 earnings per share. Analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were paid a $0.78 dividend. The ex-dividend date was Monday, May 19th. This represents a $3.12 annualized dividend and a dividend yield of 3.26%. ConocoPhillips’s payout ratio is 39.64%.

Insider Buying and Selling at ConocoPhillips

In related news, EVP Kirk L. Johnson purchased 5,300 shares of the firm’s 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 purchase, the executive vice president owned 14,527 shares in the company, valued at approximately $1,369,024.48. This represents a 57.44% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.24% of the company’s stock.

About ConocoPhillips

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.