Brookstone Capital Management Acquires 12,137 Shares of ConocoPhillips $COP

Brookstone Capital Management raised its holdings in ConocoPhillips (NYSE:COP) by 95.5% during the second quarter, Holdings Channel.com reports. The fund owned 24,851 shares of the energy producer’s stock after purchasing an additional 12,137 shares during the period. Brookstone Capital Management’s holdings in ConocoPhillips were worth $2,230,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its stake in ConocoPhillips by 379.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer’s stock valued at $4,210,751,000 after acquiring an additional 31,736,423 shares during the last quarter. Wellington Management Group LLP boosted its stake in ConocoPhillips by 1.4% in the first quarter. Wellington Management Group LLP now owns 31,610,608 shares of the energy producer’s stock valued at $3,319,746,000 after acquiring an additional 437,709 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in ConocoPhillips by 30.2% in the first quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock valued at $942,297,000 after acquiring an additional 2,080,625 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in ConocoPhillips by 15.1% in the first quarter. Ameriprise Financial Inc. now owns 8,202,861 shares of the energy producer’s stock valued at $861,490,000 after acquiring an additional 1,073,906 shares during the last quarter. Finally, Nuveen LLC bought a new position in ConocoPhillips in the first quarter valued at approximately $658,981,000. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Trading Down 2.3%

COP opened at $88.01 on Friday. The firm’s fifty day moving average is $93.32 and its two-hundred day moving average is $91.92. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. The firm has a market cap of $109.92 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 2.40 and a beta of 0.62. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $115.38.

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

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Monday, August 18th. ConocoPhillips’s dividend payout ratio (DPR) is presently 41.88%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Roth Capital reduced their price objective on shares of ConocoPhillips from $108.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, October 15th. Jefferies Financial Group cut their target price on shares of ConocoPhillips from $129.00 to $120.00 and set a “buy” rating on the stock in a report on Monday, October 13th. Wall Street Zen lowered shares of ConocoPhillips from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. Wolfe Research cut their target price on shares of ConocoPhillips from $137.00 to $130.00 and set an “outperform” rating on the stock in a report on Monday, October 20th. Finally, Wells Fargo & Company initiated coverage on shares of ConocoPhillips in a report on Friday, October 17th. They issued an “equal weight” rating and a $100.00 target price on the stock. Eighteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and a consensus target price of $115.63.

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.