ConocoPhillips (NYSE:COP) Stock Position Lifted by Lake Street Financial LLC

Lake Street Financial LLC increased its stake in ConocoPhillips (NYSE:COPGet Rating) by 9.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,116 shares of the energy producer’s stock after purchasing an additional 600 shares during the period. Lake Street Financial LLC’s holdings in ConocoPhillips were worth $712,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Arkadios Wealth Advisors grew its holdings in shares of ConocoPhillips by 46.5% in the 1st quarter. Arkadios Wealth Advisors now owns 5,224 shares of the energy producer’s stock worth $522,000 after acquiring an additional 1,657 shares during the last quarter. Great Valley Advisor Group Inc. lifted its position in shares of ConocoPhillips by 76.7% in the first quarter. Great Valley Advisor Group Inc. now owns 27,710 shares of the energy producer’s stock worth $2,328,000 after buying an additional 12,028 shares during the last quarter. AE Wealth Management LLC lifted its position in shares of ConocoPhillips by 6.8% during the 1st quarter. AE Wealth Management LLC now owns 60,699 shares of the energy producer’s stock worth $6,070,000 after purchasing an additional 3,856 shares during the last quarter. Foster & Motley Inc. lifted its position in shares of ConocoPhillips by 21.0% during the 1st quarter. Foster & Motley Inc. now owns 9,089 shares of the energy producer’s stock worth $909,000 after purchasing an additional 1,575 shares during the last quarter. Finally, California State Teachers Retirement System increased its stake in ConocoPhillips by 2.6% during the fourth quarter. California State Teachers Retirement System now owns 2,327,977 shares of the energy producer’s stock valued at $168,033,000 after acquiring an additional 59,037 shares during the period. Institutional investors own 78.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Societe Generale boosted their target price on ConocoPhillips to $127.00 in a report on Thursday, June 9th. StockNews.com downgraded ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Friday. Susquehanna increased their price target on ConocoPhillips from $108.00 to $129.00 in a research note on Monday, April 25th. Morgan Stanley lowered their price objective on shares of ConocoPhillips from $118.00 to $117.00 and set an “overweight” rating for the company in a research report on Tuesday, July 19th. Finally, Bank of America upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $135.00 to $134.00 in a report on Tuesday, July 19th. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus price target of $120.37.

ConocoPhillips Price Performance

COP stock opened at $92.85 on Friday. The company’s fifty day simple moving average is $96.96 and its 200 day simple moving average is $97.29. ConocoPhillips has a 12-month low of $51.41 and a 12-month high of $124.08. The firm has a market cap of $120.10 billion, a price-to-earnings ratio of 7.67, a PEG ratio of 0.30 and a beta of 1.38. The company has a quick ratio of 1.41, a current ratio of 1.54 and a debt-to-equity ratio of 0.32.

ConocoPhillips (NYSE:COPGet Rating) last posted its earnings results on Thursday, August 4th. The energy producer reported $3.91 EPS for the quarter, missing the consensus estimate of $3.95 by ($0.04). ConocoPhillips had a return on equity of 31.24% and a net margin of 23.10%. During the same quarter in the prior year, the company earned $1.27 EPS. On average, analysts expect that ConocoPhillips will post 14.64 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Tuesday, August 16th will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Monday, August 15th. ConocoPhillips’s payout ratio is presently 15.19%.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, CEO Ryan Michael Lance sold 584,900 shares of the company’s stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $121.21, for a total value of $70,895,729.00. Following the completion of the sale, the chief executive officer now directly owns 44,522 shares of the company’s stock, valued at approximately $5,396,511.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other ConocoPhillips news, Director Timothy A. Leach sold 40,603 shares of the business’s stock in a transaction dated Thursday, May 19th. The shares were sold at an average price of $102.33, for a total value of $4,154,904.99. Following the transaction, the director now directly owns 666,002 shares in the company, valued at $68,151,984.66. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Michael Lance sold 584,900 shares of the company’s stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of $121.21, for a total transaction of $70,895,729.00. Following the sale, the chief executive officer now owns 44,522 shares in the company, valued at $5,396,511.62. The disclosure for this sale can be found here. Insiders sold a total of 644,703 shares of company stock valued at $77,172,426 over the last three months. Corporate insiders own 0.08% of the company’s stock.

About ConocoPhillips

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ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.

Further Reading

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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