1,608 Shares in ConocoPhillips $COP Bought by Flaharty Asset Management LLC

Flaharty Asset Management LLC purchased a new position in ConocoPhillips (NYSE:COP) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,608 shares of the energy producer’s stock, valued at approximately $169,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in COP. 10Elms LLP purchased a new stake in shares of ConocoPhillips during the fourth quarter worth $28,000. Financial Network Wealth Advisors LLC grew its holdings in shares of ConocoPhillips by 341.5% during the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock worth $30,000 after buying an additional 222 shares in the last quarter. Stone House Investment Management LLC purchased a new stake in shares of ConocoPhillips during the first quarter worth $31,000. Garde Capital Inc. purchased a new stake in shares of ConocoPhillips during the first quarter worth $35,000. Finally, IMA Advisory Services Inc. purchased a new stake in shares of ConocoPhillips during the first quarter worth $37,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Up 0.5%

Shares of COP stock opened at $91.86 on Wednesday. The company’s 50-day moving average price is $94.79 and its 200-day moving average price is $93.03. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $116.08. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The stock has a market cap of $114.73 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 2.39 and a beta of 0.69.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.06. The company had revenue of $14.94 billion during the quarter, compared to analyst estimates of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. ConocoPhillips’s revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.98 earnings per share. As a group, equities analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips’s dividend payout ratio (DPR) is 41.88%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on COP shares. Roth Capital reaffirmed a “buy” rating on shares of ConocoPhillips in a report on Wednesday, September 3rd. Royal Bank Of Canada dropped their target price on shares of ConocoPhillips from $115.00 to $113.00 and set an “outperform” rating for the company in a report on Friday, July 11th. Susquehanna dropped their target price on shares of ConocoPhillips from $114.00 to $113.00 and set a “positive” rating for the company in a report on Wednesday, July 23rd. Melius Research initiated coverage on shares of ConocoPhillips in a report on Wednesday, August 20th. They set a “hold” rating and a $117.00 target price for the company. Finally, Mizuho lowered their price target on shares of ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Sixteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus target price of $120.86.

Insiders Place Their Bets

In related news, EVP Kirk L. Johnson bought 5,300 shares of the stock in a transaction on Monday, June 16th. The stock was bought at an average price of $94.24 per share, with a total value of $499,472.00. Following the completion of the purchase, the executive vice president directly owned 14,527 shares in the company, valued at $1,369,024.48. This represents a 57.44% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.24% of the stock is currently owned by company insiders.

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.