Sfmg LLC Purchases 1,535 Shares of ConocoPhillips $COP

Sfmg LLC increased its position in ConocoPhillips (NYSE:COP) by 2.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,285 shares of the energy producer’s stock after buying an additional 1,535 shares during the quarter. Sfmg LLC’s holdings in ConocoPhillips were worth $6,038,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in COP. Journey Strategic Wealth LLC increased its position in shares of ConocoPhillips by 93.6% in the second quarter. Journey Strategic Wealth LLC now owns 8,632 shares of the energy producer’s stock valued at $775,000 after acquiring an additional 4,174 shares during the period. CFC Planning Co LLC grew its stake in shares of ConocoPhillips by 4.5% in the second quarter. CFC Planning Co LLC now owns 26,337 shares of the energy producer’s stock worth $2,363,000 after purchasing an additional 1,146 shares during the last quarter. Brandywine Global Investment Management LLC increased its holdings in ConocoPhillips by 20.0% during the 2nd quarter. Brandywine Global Investment Management LLC now owns 529,135 shares of the energy producer’s stock valued at $47,485,000 after purchasing an additional 88,283 shares during the period. Ames National Corp bought a new position in ConocoPhillips during the 2nd quarter valued at approximately $340,000. Finally, YANKCOM Partnership lifted its holdings in ConocoPhillips by 3.8% in the 2nd quarter. YANKCOM Partnership now owns 5,800 shares of the energy producer’s stock worth $520,000 after buying an additional 214 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on COP shares. Melius initiated coverage on ConocoPhillips in a research note on Wednesday, August 20th. They set a “hold” rating and a $117.00 target price on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of ConocoPhillips in a research report on Wednesday. Royal Bank Of Canada upped their price objective on shares of ConocoPhillips from $113.00 to $118.00 and gave the stock an “outperform” rating in a report on Monday, October 13th. Jefferies Financial Group dropped their target price on shares of ConocoPhillips from $129.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Finally, Morgan Stanley reduced their price target on shares of ConocoPhillips from $122.00 to $117.00 and set an “overweight” rating on the stock in a research report on Thursday. Eighteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.13.

Insider Activity at ConocoPhillips

In related news, Director William H. Mcraven bought 5,768 shares of the business’s stock in a transaction dated Monday, November 10th. The shares were purchased at an average cost of $86.68 per share, with a total value of $499,970.24. Following the completion of the purchase, the director owned 5,768 shares in the company, valued at approximately $499,970.24. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.24% of the company’s stock.

ConocoPhillips Price Performance

Shares of COP opened at $87.33 on Friday. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $112.73. The firm’s 50-day simple moving average is $90.47 and its two-hundred day simple moving average is $91.87. The stock has a market cap of $107.92 billion, a PE ratio of 11.72, a price-to-earnings-growth ratio of 2.36 and a beta of 0.58. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, November 6th. The energy producer reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.20. The firm had revenue of $15.03 billion during the quarter, compared to analyst estimates of $14.51 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The business’s revenue was up 14.1% on a year-over-year basis. During the same period last year, the business earned $1.78 earnings per share. Analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 3.8%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Monday, November 17th. ConocoPhillips’s dividend payout ratio is presently 47.52%.

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.