6,972 ConocoPhillips $COP Shares Purchased by Trek Financial LLC

Trek Financial LLC grew its position in ConocoPhillips (NYSE:COP) by 37.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,669 shares of the energy producer’s stock after purchasing an additional 6,972 shares during the period. Trek Financial LLC’s holdings in ConocoPhillips were worth $3,212,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of COP. True Freedom Investing LLC lifted its holdings in ConocoPhillips by 9.7% during the third quarter. True Freedom Investing LLC now owns 87,561 shares of the energy producer’s stock worth $10,958,000 after acquiring an additional 7,740 shares in the last quarter. Security Financial Services INC. bought a new stake in shares of ConocoPhillips in the third quarter worth about $244,000. Pinkerton Wealth LLC increased its holdings in shares of ConocoPhillips by 8.6% in the third quarter. Pinkerton Wealth LLC now owns 88,563 shares of the energy producer’s stock worth $11,084,000 after acquiring an additional 7,015 shares in the last quarter. Boit C F David acquired a new stake in shares of ConocoPhillips during the third quarter worth about $188,000. Finally, Virtue Capital Management LLC raised its position in shares of ConocoPhillips by 7.1% during the third quarter. Virtue Capital Management LLC now owns 6,054 shares of the energy producer’s stock worth $758,000 after purchasing an additional 401 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at ConocoPhillips

In other news, SVP Andrew Lundquist sold 9,487 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the completion of the transaction, the senior vice president directly owned 9,593 shares of the company’s stock, valued at $1,296,493.95. This trade represents a 49.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Seaport Research Partners assumed coverage on ConocoPhillips in a report on Thursday, September 3rd. They set a “neutral” rating on the stock. Jefferies Financial Group increased their target price on ConocoPhillips from $159.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, October 6th. Freedom Capital upgraded shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. Morgan Stanley lifted their price target on shares of ConocoPhillips from $151.00 to $159.00 and gave the company an “overweight” rating in a research note on Thursday, October 15th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $157.00 price target on shares of ConocoPhillips in a report on Tuesday, October 20th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.08.

ConocoPhillips Stock Down 4.7%

COP stock opened at $146.76 on Tuesday. 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 stock has a market capitalization of $176.30 billion, a P/E ratio of 19.41, a P/E/G ratio of 1.45 and a beta of 0.24. The business has a 50-day moving average of $136.37 and a 200-day moving average of $121.30. ConocoPhillips has a fifty-two week low of $85.57 and a fifty-two week high of $154.28.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.90 by $0.34. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%. The business had revenue of $19.52 billion during the quarter, compared to the consensus estimate of $18.79 billion. During the same period last year, the company earned $1.42 earnings per share. ConocoPhillips’s quarterly revenue was up 32.4% on a year-over-year basis. On average, sell-side analysts anticipate that ConocoPhillips will post 11.41 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were given a dividend of $0.84 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $3.36 dividend on an annualized basis and a yield of 2.3%. ConocoPhillips’s dividend payout ratio is 44.44%.

About ConocoPhillips

ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged in finding, developing and producing oil, natural gas and natural gas liquids. Unlike integrated energy companies, it primarily focuses on upstream activities rather than operating large refining or retail fuel businesses.

The company’s portfolio includes conventional and unconventional oil and natural gas assets, liquefied natural gas-related interests, oil sands operations and other energy resources.