Stratos Investment Management LLC Purchases 1,072 Shares of ConocoPhillips (NYSE:COP)

Stratos Investment Management LLC lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 4.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 23,222 shares of the energy producer’s stock after acquiring an additional 1,072 shares during the period. Stratos Investment Management LLC’s holdings in ConocoPhillips were worth $2,445,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Richardson Capital Management LLC bought a new position in shares of ConocoPhillips during the 1st quarter worth approximately $31,000. Ruedi Wealth Management Inc. boosted its stake in shares of ConocoPhillips by 150.0% in the 1st quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock valued at $32,000 after purchasing an additional 150 shares in the last quarter. Stephens Consulting LLC boosted its stake in shares of ConocoPhillips by 69.3% in the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 104 shares in the last quarter. Valued Wealth Advisors LLC grew its holdings in shares of ConocoPhillips by 45.8% in the 1st quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock worth $33,000 after purchasing an additional 82 shares during the last quarter. Finally, Y.D. More Investments Ltd acquired a new stake in shares of ConocoPhillips during the 2nd quarter worth about $35,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

COP has been the subject of several recent analyst reports. Susquehanna dropped their price objective on shares of ConocoPhillips from $147.00 to $144.00 and set a “positive” rating for the company in a report on Friday. Sanford C. Bernstein reduced their price objective on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $126.00 target price (down from $139.00) on shares of ConocoPhillips in a research note on Friday, October 11th. Royal Bank of Canada reissued an “outperform” rating and set a $140.00 price objective on shares of ConocoPhillips in a report on Friday, September 13th. Finally, BMO Capital Markets upped their target price on shares of ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $136.94.

ConocoPhillips Trading Down 0.5 %

Shares of NYSE:COP opened at $105.64 on Friday. The company has a 50-day simple moving average of $109.01 and a 200 day simple moving average of $114.90. The company has a market capitalization of $122.67 billion, a P/E ratio of 11.78, a price-to-earnings-growth ratio of 0.87 and a beta of 1.21. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33. ConocoPhillips has a 52-week low of $101.29 and a 52-week high of $135.18.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $14.96 billion. During the same period in the previous year, the firm earned $1.84 EPS. The firm’s revenue was up 9.7% compared to the same quarter last year. Sell-side analysts forecast 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. Investors of record on Monday, August 12th were paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s dividend payout ratio (DPR) is currently 25.86%.

Insider Buying and Selling

In other news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the completion of the sale, the director now directly owns 455,909 shares in the company, valued at approximately $49,288,321.99. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.34% of the stock is currently owned by company insiders.

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.