Legacy Financial Strategies LLC Buys Shares of 2,274 ConocoPhillips (NYSE:COP)

Legacy Financial Strategies LLC bought a new stake in ConocoPhillips (NYSE:COP) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,274 shares of the energy producer’s stock, valued at approximately $239,000.

Several other hedge funds have also recently made changes to their positions in COP. Alaska Permanent Fund Corp bought a new stake in shares of ConocoPhillips during the 1st quarter valued at $143,000. &PARTNERS raised its stake in shares of ConocoPhillips by 152.6% during the 1st quarter. &PARTNERS now owns 10,182 shares of the energy producer’s stock valued at $1,307,000 after purchasing an additional 6,151 shares during the period. City State Bank raised its stake in shares of ConocoPhillips by 11.4% during the 1st quarter. City State Bank now owns 2,927 shares of the energy producer’s stock valued at $373,000 after purchasing an additional 300 shares during the period. Douglas Lane & Associates LLC grew its position in ConocoPhillips by 23.8% during the first quarter. Douglas Lane & Associates LLC now owns 4,397 shares of the energy producer’s stock worth $560,000 after buying an additional 846 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in ConocoPhillips by 30.8% during the first quarter. International Assets Investment Management LLC now owns 12,558 shares of the energy producer’s stock worth $1,616,000 after buying an additional 2,958 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

Insider Buying and Selling at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total value of $6,000,105.00. Following the transaction, the director now directly owns 455,909 shares in the company, valued at $49,288,321.99. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.34% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on COP shares. Scotiabank reduced their target price on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. UBS Group cut their price objective on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Wolfe Research initiated coverage on ConocoPhillips in a report on Thursday, July 18th. They issued an “outperform” rating and a $145.00 price objective for the company. Truist Financial dropped their target price on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a report on Monday, September 30th. Finally, Mizuho dropped their target price on ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $136.94.

ConocoPhillips Stock Down 0.5 %

Shares of ConocoPhillips stock traded down $0.48 on Friday, reaching $105.67. The company’s stock had a trading volume of 4,326,673 shares, compared to its average volume of 8,149,196. The firm’s fifty day simple moving average is $109.01 and its two-hundred day simple moving average is $114.90. ConocoPhillips has a 52 week low of $101.29 and a 52 week high of $135.18. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $122.71 billion, a price-to-earnings ratio of 11.78, a P/E/G ratio of 0.87 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.02. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The business had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. During the same quarter in the previous year, the company posted $1.84 earnings per share. ConocoPhillips’s revenue for the quarter was up 9.7% on a year-over-year basis. Equities analysts anticipate that ConocoPhillips will post 7.99 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s dividend payout ratio is presently 25.86%.

ConocoPhillips Profile

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.