eCIO Inc. Acquires New Holdings in ConocoPhillips $COP

eCIO Inc. bought a new stake in ConocoPhillips (NYSE:COP) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,018 shares of the energy producer’s stock, valued at approximately $107,000.

Other large investors have also recently bought and sold shares of the company. First Hawaiian Bank lifted its stake in shares of ConocoPhillips by 23.1% in the 1st quarter. First Hawaiian Bank now owns 33,736 shares of the energy producer’s stock worth $3,543,000 after acquiring an additional 6,335 shares during the period. Modern Wealth Management LLC increased its stake in shares of ConocoPhillips by 18.6% during the first quarter. Modern Wealth Management LLC now owns 15,149 shares of the energy producer’s stock valued at $1,591,000 after acquiring an additional 2,379 shares during the period. Birmingham Capital Management Co. Inc. AL raised its holdings in ConocoPhillips by 10.4% during the first quarter. Birmingham Capital Management Co. Inc. AL now owns 5,309 shares of the energy producer’s stock worth $558,000 after purchasing an additional 500 shares in the last quarter. Strs Ohio bought a new stake in ConocoPhillips during the first quarter worth approximately $63,989,000. Finally, Jacobi Capital Management LLC lifted its position in ConocoPhillips by 9.8% in the first quarter. Jacobi Capital Management LLC now owns 30,829 shares of the energy producer’s stock worth $3,238,000 after purchasing an additional 2,757 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Trading Down 0.2%

Shares of NYSE COP opened at $94.13 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $116.08. The company has a market cap of $117.56 billion, a price-to-earnings ratio of 12.63, a P/E/G ratio of 2.48 and a beta of 0.69. The business has a fifty day simple moving average of $94.78 and a 200-day simple moving average of $93.01.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. The firm had revenue of $14.94 billion for the quarter, compared to analysts’ expectations of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.ConocoPhillips’s revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the business posted $1.98 EPS. Sell-side analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were issued a dividend of $0.78 per share. The ex-dividend date was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.3%. ConocoPhillips’s payout ratio is currently 41.88%.

Insider Activity

In other news, EVP Kirk L. Johnson purchased 5,300 shares of ConocoPhillips stock in a transaction that occurred on Monday, June 16th. The stock was acquired at an average price of $94.24 per share, for a total transaction of $499,472.00. Following 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.24% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Melius assumed coverage on ConocoPhillips in a research report on Wednesday, August 20th. They set a “hold” rating and a $117.00 price target on the stock. Raymond James Financial decreased their target price on ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating for the company in a research note on Monday. Susquehanna dropped their price target on shares of ConocoPhillips from $114.00 to $113.00 and set a “positive” rating on the stock in a research report on Wednesday, July 23rd. Melius Research started coverage on shares of ConocoPhillips in a report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 price target for the company. Finally, Roth Capital restated a “buy” rating on shares of ConocoPhillips in a research report on Wednesday, September 3rd. Sixteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $120.86.

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.