Ashton Thomas Private Wealth LLC Buys 34,247 Shares of ConocoPhillips $COP

Ashton Thomas Private Wealth LLC boosted its stake in shares of ConocoPhillips (NYSE:COP) by 91.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,608 shares of the energy producer’s stock after buying an additional 34,247 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in ConocoPhillips were worth $6,426,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Tritonpoint Wealth LLC increased its position in ConocoPhillips by 1.3% during the 2nd quarter. Tritonpoint Wealth LLC now owns 8,329 shares of the energy producer’s stock valued at $747,000 after purchasing an additional 110 shares during the period. Iowa State Bank increased its position in ConocoPhillips by 0.5% during the 2nd quarter. Iowa State Bank now owns 22,193 shares of the energy producer’s stock valued at $1,992,000 after purchasing an additional 110 shares during the period. First National Bank Sioux Falls increased its position in ConocoPhillips by 4.6% during the 2nd quarter. First National Bank Sioux Falls now owns 2,572 shares of the energy producer’s stock valued at $231,000 after purchasing an additional 113 shares during the period. KLCM Advisors Inc. increased its position in ConocoPhillips by 2.6% during the 1st quarter. KLCM Advisors Inc. now owns 4,503 shares of the energy producer’s stock valued at $473,000 after purchasing an additional 115 shares during the period. Finally, Fairvoy Private Wealth LLC increased its position in ConocoPhillips by 3.5% during the 2nd quarter. Fairvoy Private Wealth LLC now owns 3,500 shares of the energy producer’s stock valued at $314,000 after purchasing an additional 117 shares during the period. Institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

COP has been the topic of a number of research reports. 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 research report on Monday, October 13th. Susquehanna cut their target price on shares of ConocoPhillips to $113.00 and set a “positive” rating on the stock in a research report on Monday, October 20th. Raymond James Financial cut their target price on shares of ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating on the stock in a research report on Monday, September 8th. Mizuho cut their target price on shares of ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. Finally, Wells Fargo & Company initiated coverage on shares of ConocoPhillips in a research report on Friday, October 17th. They set an “equal weight” rating and a $100.00 target price on the stock. Eighteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.63.

ConocoPhillips Stock Down 2.3%

NYSE:COP opened at $88.01 on Monday. The company has a market cap of $109.92 billion, a PE ratio of 11.81, a P/E/G ratio of 2.35 and a beta of 0.62. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $115.38. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The company’s 50 day moving average is $93.32 and its two-hundred day moving average is $91.98.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.06. The company had revenue of $14.94 billion for the quarter, compared to the consensus estimate of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. ConocoPhillips’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.98 EPS. Analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips’s dividend payout ratio is 41.88%.

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.