Equitable Holdings Inc. Takes $2.11 Million Position in ConocoPhillips $COP

Equitable Holdings Inc. purchased a new position in shares of ConocoPhillips (NYSE:COP) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 20,269 shares of the energy producer’s stock, valued at approximately $2,107,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in ConocoPhillips during the 4th quarter valued at about $25,000. Strive Asset Management LLC purchased a new stake in shares of ConocoPhillips in the third quarter valued at about $28,000. Frazier Financial Advisors LLC grew its position in shares of ConocoPhillips by 151.0% in the first quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock valued at $32,000 after purchasing an additional 145 shares during the last quarter. Allied Private Wealth LLC acquired a new stake in shares of ConocoPhillips in the second quarter valued at approximately $32,000. Finally, BNP Paribas purchased a new position in shares of ConocoPhillips during the 2nd quarter worth approximately $33,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

NYSE:COP opened at $130.46 on Friday. The firm has a 50 day simple moving average of $117.42 and a 200-day simple moving average of $118.56. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.39. The firm has a market cap of $156.73 billion, a PE ratio of 17.26, a P/E/G ratio of 1.36 and a beta of 0.11. ConocoPhillips has a 1-year low of $85.57 and a 1-year high of $135.88.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.90 by $0.34. The firm had revenue of $19.52 billion for the quarter, compared to analyst estimates of $18.79 billion. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. ConocoPhillips’s revenue was up 32.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.42 earnings per share. On average, equities analysts expect that ConocoPhillips will post 10.55 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be issued a dividend of $0.84 per share. The ex-dividend date is Monday, August 17th. This represents a $3.36 annualized dividend and a dividend yield of 2.6%. ConocoPhillips’s dividend payout ratio (DPR) is 44.44%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Susquehanna lifted their price objective on ConocoPhillips from $155.00 to $161.00 and gave the stock a “positive” rating in a research report on Tuesday, August 11th. Weiss Ratings upgraded ConocoPhillips from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 6th. Raymond James Financial reissued an “underperform” rating and set a $168.00 price target on shares of ConocoPhillips in a research report on Monday. Capital One Financial cut their price target on ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating for the company in a report on Monday, May 18th. Finally, Roth Capital upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and upped their price objective for the company from $124.00 to $130.00 in a research report on Monday, June 22nd. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and an average target price of $140.29.

Insider Activity at ConocoPhillips

In related news, SVP Andrew D. Lundquist sold 9,487 shares of the company’s stock in a transaction on 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 transaction, the senior vice president directly owned 9,593 shares in the company, valued at approximately $1,296,493.95. This represents a 49.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.09% of the stock is currently owned by corporate insiders.

ConocoPhillips Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.