ConocoPhillips $COP Stock Purchased by Hengehold Capital Management LLC

Hengehold Capital Management LLC raised its position in ConocoPhillips (NYSE:COP) by 194.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,325 shares of the energy producer’s stock after acquiring an additional 4,838 shares during the quarter. Hengehold Capital Management LLC’s holdings in ConocoPhillips were worth $917,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. raised its holdings in shares of ConocoPhillips by 1,389.5% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 850,987 shares of the energy producer’s stock valued at $106,501,000 after purchasing an additional 793,856 shares in the last quarter. Opal Wealth Advisors LLC grew its stake in shares of ConocoPhillips by 105.2% during the third quarter. Opal Wealth Advisors LLC now owns 5,396 shares of the energy producer’s stock worth $675,000 after purchasing an additional 2,766 shares in the last quarter. ARS Wealth Advisors Group LLC grew its stake in shares of ConocoPhillips by 97.7% during the third quarter. ARS Wealth Advisors Group LLC now owns 4,406 shares of the energy producer’s stock worth $551,000 after purchasing an additional 2,177 shares in the last quarter. Cardinal Capital Management Inc. increased its holdings in ConocoPhillips by 3.4% in the third quarter. Cardinal Capital Management Inc. now owns 143,522 shares of the energy producer’s stock valued at $17,962,000 after buying an additional 4,678 shares during the last quarter. Finally, Cyndeo Wealth Partners LLC increased its holdings in ConocoPhillips by 65.9% in the third quarter. Cyndeo Wealth Partners LLC now owns 8,453 shares of the energy producer’s stock valued at $1,058,000 after buying an additional 3,358 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Up 3.3%

Shares of NYSE COP traded up $4.70 during mid-day trading on Friday, reaching $146.43. The company had a trading volume of 7,765,878 shares, compared to its average volume of 6,598,777. The firm has a 50 day simple moving average of $132.11 and a two-hundred day simple moving average of $122.44. ConocoPhillips has a 52-week low of $85.57 and a 52-week high of $146.59. The company has a current ratio of 1.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35. The stock has a market cap of $175.92 billion, a P/E ratio of 19.37, a PEG ratio of 1.41 and a beta of 0.24.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.90 by $0.34. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The firm had revenue of $19.52 billion during the quarter, compared to analysts’ expectations of $18.79 billion. During the same period in the previous year, the company earned $1.42 earnings per share. ConocoPhillips’s quarterly revenue was up 32.4% compared to the same quarter last year. Sell-side analysts predict that ConocoPhillips will post 11.19 earnings per share for the current year.

ConocoPhillips Announces Dividend

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

Insider Buying and Selling at ConocoPhillips

In other news, SVP Andrew Lundquist sold 9,487 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $135.15, for a total value of $1,282,168.05. Following the completion of the sale, the senior vice president directly owned 9,593 shares of the company’s stock, valued at approximately $1,296,493.95. The trade was a 49.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Truist Financial raised their price target on ConocoPhillips from $130.00 to $136.00 and gave the company a “hold” rating in a research note on Wednesday, October 7th. Roth Capital raised ConocoPhillips from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $124.00 to $130.00 in a research report on Monday, June 22nd. Jefferies Financial Group increased their price objective on ConocoPhillips from $159.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, October 6th. Morgan Stanley increased their price objective on ConocoPhillips from $151.00 to $159.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Stifel Nicolaus began coverage on ConocoPhillips in a research report on Thursday, September 10th. They set a “hold” rating and a $148.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $143.62.

ConocoPhillips Company Profile

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

The company has a diversified portfolio of assets in major producing regions, including the United States, Canada, Australia, Norway and Qatar. Its U.S. operations include oil and gas developments in Alaska and the Lower 48 states, while its international portfolio includes conventional and offshore projects.