7,876 Shares in ConocoPhillips $COP Acquired by Birchbrook Inc.

Birchbrook Inc. acquired a new stake in ConocoPhillips (NYSE:COP) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 7,876 shares of the energy producer’s stock, valued at approximately $707,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in COP. OneAscent Financial Services LLC grew its stake in ConocoPhillips by 63.7% in the first quarter. OneAscent Financial Services LLC now owns 5,116 shares of the energy producer’s stock valued at $538,000 after purchasing an additional 1,990 shares in the last quarter. IFP Advisors Inc lifted its holdings in shares of ConocoPhillips by 3.5% during the 1st quarter. IFP Advisors Inc now owns 13,078 shares of the energy producer’s stock valued at $1,373,000 after buying an additional 442 shares during the last quarter. Ignite Planners LLC lifted its holdings in shares of ConocoPhillips by 4.0% during the 1st quarter. Ignite Planners LLC now owns 11,349 shares of the energy producer’s stock valued at $1,192,000 after buying an additional 439 shares during the last quarter. Hartford Funds Management Co LLC grew its stake in shares of ConocoPhillips by 26.9% in the 1st quarter. Hartford Funds Management Co LLC now owns 14,932 shares of the energy producer’s stock valued at $1,568,000 after buying an additional 3,166 shares in the last quarter. Finally, Garner Asset Management Corp increased its holdings in ConocoPhillips by 6.0% in the first quarter. Garner Asset Management Corp now owns 26,049 shares of the energy producer’s stock worth $2,736,000 after buying an additional 1,470 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

COP has been the subject of a number of analyst reports. Melius began coverage on shares of ConocoPhillips in a research note on Wednesday, August 20th. They issued a “hold” rating and a $117.00 target price for the company. Wells Fargo & Company started coverage on shares of ConocoPhillips in a research note on Friday, October 17th. They issued an “equal weight” rating and a $100.00 price objective for the company. Evercore ISI decreased their price objective on shares of ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating for the company in a report on Monday, October 6th. UBS Group cut their target price on ConocoPhillips from $122.00 to $117.00 and set a “buy” rating on the stock in a report on Wednesday, November 12th. Finally, Raymond James Financial reduced their price target on ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating for the company in a research report on Monday, September 8th. Eighteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.33.

Insider Buying and Selling at ConocoPhillips

In related news, Director William H. Mcraven acquired 5,768 shares of the stock in a transaction dated Monday, November 10th. The shares were acquired at an average price of $86.68 per share, for a total transaction of $499,970.24. Following the completion of the purchase, the director owned 5,768 shares in the company, valued at approximately $499,970.24. The trade was a ? increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.24% of the company’s stock.

ConocoPhillips Stock Up 1.0%

ConocoPhillips stock opened at $89.64 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $115.38. The firm has a fifty day moving average price of $90.83 and a two-hundred day moving average price of $91.93. The firm has a market cap of $110.77 billion, a price-to-earnings ratio of 12.03, a P/E/G ratio of 2.36 and a beta of 0.58.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, November 6th. The energy producer reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.20. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The business had revenue of $15.03 billion for the quarter, compared to analyst estimates of $14.51 billion. During the same period in the previous year, the company posted $1.78 earnings per share. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. As a group, analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.7%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.78. The ex-dividend date is Monday, November 17th. ConocoPhillips’s dividend payout ratio is presently 47.52%.

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.