AlphaCore Capital LLC Boosts Position in ConocoPhillips (NYSE:COP)

AlphaCore Capital LLC boosted its position in shares of ConocoPhillips (NYSE:COP) by 31.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,350 shares of the energy producer’s stock after purchasing an additional 1,779 shares during the quarter. AlphaCore Capital LLC’s holdings in ConocoPhillips were worth $772,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. 10Elms LLP purchased a new stake in ConocoPhillips during the fourth quarter worth $28,000. Garde Capital Inc. purchased a new stake in ConocoPhillips during the first quarter worth $35,000. IMA Advisory Services Inc. purchased a new stake in ConocoPhillips during the first quarter worth $37,000. Fourth Dimension Wealth LLC purchased a new stake in ConocoPhillips during the fourth quarter worth $39,000. Finally, MorganRosel Wealth Management LLC purchased a new stake in ConocoPhillips during the first quarter worth $42,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Trading Up 1.4%

COP stock opened at $93.91 on Friday. The company has a market cap of $118.72 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 2.41 and a beta of 0.67. The company has a quick ratio of 1.13, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. The business has a fifty day simple moving average of $92.77 and a 200-day simple moving average of $93.73. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $116.08.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, topping the consensus estimate of $1.36 by $0.06. The company had revenue of $14.94 billion during the quarter, compared to analyst estimates of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%. The firm’s revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.98 earnings per share. On average, equities research analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th will be paid a dividend of $0.78 per share. The ex-dividend date is Monday, August 18th. This represents a $3.12 annualized dividend and a yield of 3.3%. ConocoPhillips’s dividend payout ratio is currently 39.64%.

Insider Buying and Selling

In other news, EVP Kirk L. Johnson purchased 5,300 shares of the company’s stock in a transaction on Monday, June 16th. The stock was bought at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the completion of the purchase, the executive vice president directly owned 14,527 shares of the company’s stock, valued at $1,369,024.48. The trade was a 57.44% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.24% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Raymond James Financial upped their price objective on ConocoPhillips from $109.00 to $117.00 and gave the company an “outperform” rating in a research report on Tuesday, July 22nd. Scotiabank raised their price target on shares of ConocoPhillips from $95.00 to $100.00 and gave the stock a “sector perform” rating in a research note on Friday, July 11th. Bank of America lowered their price target on shares of ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating for the company in a report on Friday, May 23rd. Roth Capital restated a “buy” rating and set a $108.00 target price on shares of ConocoPhillips in a research report on Thursday. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $123.00 target price (up from $113.00) on shares of ConocoPhillips in a research note on Tuesday, July 15th. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $120.63.

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.