Invst LLC Invests $990,000 in ConocoPhillips $COP

Invst LLC purchased a new position in shares of ConocoPhillips (NYSE:COP) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 9,525 shares of the energy producer’s stock, valued at approximately $990,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in ConocoPhillips during the 4th quarter worth approximately $25,000. Strive Asset Management LLC acquired a new stake in shares of ConocoPhillips in the third quarter valued at about $28,000. Frazier Financial Advisors LLC boosted its holdings in ConocoPhillips by 151.0% during the first quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock worth $32,000 after buying an additional 145 shares in the last quarter. Allied Private Wealth LLC acquired a new position in ConocoPhillips during the second quarter worth about $32,000. Finally, BNP Paribas acquired a new stake in shares of ConocoPhillips during the 2nd quarter valued at approximately $33,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips News Summary

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: An executive said additional Arctic drilling activity is “inevitable,” signaling potential long-term growth opportunities for ConocoPhillips as access to the region expands. However, the development is unlikely to materially affect near-term earnings. More Arctic activity inevitable says ConocoPhillips
• Positive Sentiment: RBC Capital reaffirmed its Buy rating, supporting the bullish analyst view on COP. The company also benefits from firmer crude prices amid supply concerns, which could improve upstream revenue and cash flow. RBC Capital reaffirms Buy rating
• Neutral Sentiment: With COP shares near a three-month peak, a covered-call strategy offering a 1.75% yield at the $140 September strike may appeal to income-focused shareholders. The strategy also suggests investors see the stock’s upside as potentially limited in the near term. Covered call yields with ConocoPhillips
• Negative Sentiment: Senior Vice President Andrew Lundquist sold 9,487 shares for approximately $1.28 million, reducing his position by nearly 50%. While insider sales can reflect personal financial planning, the sizable transaction may weigh on sentiment, particularly with the stock near recent highs. Andrew Lundquist sells ConocoPhillips shares

ConocoPhillips Stock Performance

Shares of NYSE COP opened at $131.84 on Wednesday. The company has a market cap of $158.39 billion, a PE ratio of 17.44, a price-to-earnings-growth ratio of 1.40 and a beta of 0.11. ConocoPhillips has a 12 month low of $85.57 and a 12 month high of $135.88. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.39. The company has a 50-day simple moving average of $116.14 and a 200-day simple moving average of $118.14.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.90 by $0.34. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The business had revenue of $19.52 billion for the quarter, compared to the consensus estimate of $18.79 billion. During the same quarter in the prior year, the firm posted $1.42 earnings per share. The company’s quarterly revenue was up 32.4% compared to the same quarter last year. On average, equities analysts anticipate that ConocoPhillips will post 10.55 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be issued a $0.84 dividend. The ex-dividend date is Monday, August 17th. This represents a $3.36 annualized dividend and a yield of 2.5%. ConocoPhillips’s payout ratio is 44.44%.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, SVP Andrew D. Lundquist sold 9,487 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the transaction, the senior vice president owned 9,593 shares of the company’s stock, valued at $1,296,493.95. This represents a 49.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.09% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

COP has been the topic of a number of research reports. Wall Street Zen upgraded ConocoPhillips from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Jefferies Financial Group increased their price objective on shares of ConocoPhillips from $160.00 to $161.00 and gave the company a “buy” rating in a research note on Monday, May 18th. UBS Group upped their price target on shares of ConocoPhillips from $143.00 to $153.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Susquehanna increased their price target on shares of ConocoPhillips from $155.00 to $161.00 and gave the company a “positive” rating in a research report on Tuesday, August 11th. Finally, Roth Capital upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $124.00 to $130.00 in a research report on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $140.29.

About ConocoPhillips

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.