3,785 Shares in ConocoPhillips $COP Purchased by Fox Run Management L.L.C.

Fox Run Management L.L.C. bought a new position in ConocoPhillips (NYSE:COP) in the second quarter, HoldingsChannel reports. The fund bought 3,785 shares of the energy producer’s stock, valued at approximately $340,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Financial Network Wealth Advisors LLC raised its holdings in shares of ConocoPhillips by 341.5% during the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock valued at $30,000 after purchasing an additional 222 shares during the last quarter. Stone House Investment Management LLC purchased a new stake in ConocoPhillips in the first quarter worth approximately $31,000. Bogart Wealth LLC grew its position in ConocoPhillips by 136.8% in the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock worth $28,000 after purchasing an additional 182 shares during the period. Activest Wealth Management raised its stake in ConocoPhillips by 249.5% during the 2nd quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock valued at $29,000 after buying an additional 232 shares during the last quarter. Finally, IMA Advisory Services Inc. bought a new position in shares of ConocoPhillips during the 1st quarter valued at $37,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Down 1.9%

NYSE COP opened at $89.00 on Thursday. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $115.38. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $109.97 billion, a P/E ratio of 11.95, a price-to-earnings-growth ratio of 2.36 and a beta of 0.58. The stock’s 50-day moving average price is $91.08 and its 200-day moving average price is $91.96.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, November 6th. The energy producer reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.20. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The company had revenue of $15.03 billion during the quarter, compared to the consensus estimate of $14.51 billion. During the same period in the previous year, the company posted $1.78 EPS. The firm’s revenue was up 14.1% on a year-over-year basis. On average, equities research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.8%. This is a boost 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 currently 47.52%.

Wall Street Analyst Weigh In

Several brokerages recently commented on COP. Piper Sandler cut their price objective on ConocoPhillips from $124.00 to $115.00 and set an “overweight” rating for the company in a report on Monday, October 13th. Evercore ISI dropped their target price on ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating on the stock in a research report on Monday, October 6th. BMO Capital Markets boosted their price target on ConocoPhillips from $115.00 to $117.00 and gave the company an “outperform” rating in a research note on Monday, October 13th. UBS Group lowered their price objective on shares of ConocoPhillips from $122.00 to $117.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Wolfe Research reissued an “outperform” rating and issued a $131.00 price objective on shares of ConocoPhillips in a report on Thursday, November 6th. Eighteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $115.33.

Insider Activity at ConocoPhillips

In other news, Director William H. Mcraven bought 5,768 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were bought at an average price of $86.68 per share, for a total transaction of $499,970.24. Following the purchase, the director owned 5,768 shares in the company, valued at $499,970.24. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.24% of the stock is owned by insiders.

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.