6,476 Shares in ConocoPhillips (NYSE:COP) Purchased by Wedgewood Investors Inc. PA

Wedgewood Investors Inc. PA purchased a new position in ConocoPhillips (NYSE:COP) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 6,476 shares of the energy producer’s stock, valued at approximately $741,000.

Several other institutional investors also recently modified their holdings of COP. International Assets Investment Management LLC increased its stake in ConocoPhillips by 20.7% during the 4th quarter. International Assets Investment Management LLC now owns 9,600 shares of the energy producer’s stock valued at $1,114,000 after purchasing an additional 1,644 shares in the last quarter. RWA Wealth Partners LLC increased its stake in ConocoPhillips by 42.9% during the 4th quarter. RWA Wealth Partners LLC now owns 10,003 shares of the energy producer’s stock valued at $1,161,000 after purchasing an additional 3,004 shares in the last quarter. Atria Wealth Solutions Inc. increased its stake in ConocoPhillips by 5.6% during the 4th quarter. Atria Wealth Solutions Inc. now owns 60,910 shares of the energy producer’s stock valued at $7,070,000 after purchasing an additional 3,240 shares in the last quarter. VCI Wealth Management LLC bought a new stake in ConocoPhillips during the 4th quarter valued at about $931,000. Finally, Jackson Hole Capital Partners LLC increased its stake in ConocoPhillips by 42.0% during the 4th quarter. Jackson Hole Capital Partners LLC now owns 13,366 shares of the energy producer’s stock valued at $1,551,000 after purchasing an additional 3,955 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

COP has been the topic of several research reports. Raymond James restated a “strong-buy” rating and issued a $159.00 target price (up previously from $155.00) on shares of ConocoPhillips in a report on Thursday, May 30th. StockNews.com cut ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Wells Fargo & Company dropped their target price on ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Royal Bank of Canada raised their target price on ConocoPhillips from $135.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 15th. Finally, UBS Group raised their target price on ConocoPhillips from $151.00 to $153.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $143.65.

ConocoPhillips Price Performance

COP traded up $1.43 on Friday, hitting $111.40. 4,024,190 shares of the company’s stock traded hands, compared to its average volume of 5,675,574. The company’s 50 day simple moving average is $111.42 and its 200-day simple moving average is $117.01. The firm has a market cap of $130.29 billion, a price-to-earnings ratio of 12.62, a P/E/G ratio of 2.22 and a beta of 1.24. ConocoPhillips has a one year low of $102.27 and a one year high of $135.18. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last issued its 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 company had revenue of $14.14 billion for the quarter, compared to the consensus estimate of $14.96 billion. During the same quarter last year, the company earned $1.84 EPS. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. As a group, research analysts anticipate that ConocoPhillips will post 8.64 EPS for the current year.

ConocoPhillips Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Monday, August 12th. ConocoPhillips’s payout ratio is 26.27%.

Insiders Place Their Bets

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction that occurred on 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 sale, the director now owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

ConocoPhillips Company 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.