ConocoPhillips $COP Stock: Brown Lisle Cummings Inc. Raises Position

Brown Lisle Cummings Inc. lifted its stake in shares of ConocoPhillips (NYSE:COP) by 452.8% during the third quarter, Holdings Channel reports. The fund owned 6,717 shares of the energy producer’s stock after purchasing an additional 5,502 shares during the quarter. Brown Lisle Cummings Inc.’s holdings in ConocoPhillips were worth $841,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. SteelPeak Wealth LLC increased its position in ConocoPhillips by 694.2% during the 3rd quarter. SteelPeak Wealth LLC now owns 195,885 shares of the energy producer’s stock worth $24,515,000 after purchasing an additional 171,222 shares in the last quarter. IFP Advisors Inc raised its stake in ConocoPhillips by 142.8% in the 3rd quarter. IFP Advisors Inc now owns 36,881 shares of the energy producer’s stock valued at $4,616,000 after purchasing an additional 21,694 shares during the last quarter. Ariston Services Group raised its stake in ConocoPhillips by 111.0% in the 3rd quarter. Ariston Services Group now owns 6,680 shares of the energy producer’s stock valued at $836,000 after purchasing an additional 3,514 shares during the last quarter. Founders Grove Wealth Partners LLC purchased a new position in ConocoPhillips in the 3rd quarter valued at about $216,000. Finally, CRA Financial Services LLC lifted its holdings in ConocoPhillips by 128.0% in the 3rd quarter. CRA Financial Services LLC now owns 13,163 shares of the energy producer’s stock valued at $1,647,000 after purchasing an additional 7,390 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of NYSE:COP opened at $146.43 on Friday. The company has a market cap of $175.92 billion, a P/E ratio of 19.37, a P/E/G ratio of 1.45 and a beta of 0.24. The company has a quick ratio of 1.39, a current ratio of 1.54 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 52 week low of $85.57 and a 52 week high of $146.59. The business has a fifty day simple moving average of $132.11 and a 200-day simple moving average of $122.44.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, beating the consensus estimate of $2.90 by $0.34. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%. The firm had revenue of $19.52 billion during the quarter, compared to analyst estimates of $18.79 billion. During the same period in the prior year, the firm posted $1.42 earnings per share. The business’s quarterly revenue was up 32.4% compared to the same quarter last year. Equities research analysts forecast that ConocoPhillips will post 11.19 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were issued a $0.84 dividend. The ex-dividend date was Monday, August 17th. This represents a $3.36 annualized dividend and a yield of 2.3%. ConocoPhillips’s payout ratio is 44.44%.

Insider Buying and Selling

In other ConocoPhillips news, SVP Andrew Lundquist sold 9,487 shares of ConocoPhillips 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 owned 9,593 shares in the company, valued at $1,296,493.95. The trade was a 49.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.09% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

COP has been the topic of several analyst reports. Freedom Capital raised shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Barclays lowered their price target on shares of ConocoPhillips from $155.00 to $150.00 and set an “overweight” rating for the company in a report on Monday, August 17th. Susquehanna boosted their price objective on shares of ConocoPhillips from $155.00 to $161.00 and gave the company a “positive” rating in a research report on Tuesday, August 11th. Mizuho reduced their price objective on shares of ConocoPhillips from $150.00 to $146.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 7th. Finally, Argus upped their price objective on shares of ConocoPhillips from $136.00 to $153.00 and gave the company a “buy” rating in a research note on Wednesday, August 19th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus target price of $143.62.

About ConocoPhillips

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

The company’s portfolio includes conventional and unconventional oil and natural gas assets, liquefied natural gas-related interests, oil sands operations and other energy resources.