ConocoPhillips $COP Shares Purchased by Hummer Financial Advisory Services Inc

Hummer Financial Advisory Services Inc increased its position in shares of ConocoPhillips (NYSE:COP) by 216.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,347 shares of the energy producer’s stock after buying an additional 6,395 shares during the quarter. ConocoPhillips comprises 0.9% of Hummer Financial Advisory Services Inc’s investment portfolio, making the stock its 27th biggest holding. Hummer Financial Advisory Services Inc’s holdings in ConocoPhillips were worth $1,170,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Breakwater Capital Group raised its holdings in shares of ConocoPhillips by 244.4% in the third quarter. Breakwater Capital Group now owns 7,839 shares of the energy producer’s stock valued at $981,000 after buying an additional 5,563 shares during the last quarter. Legacy Wealth Asset Management LLC grew its holdings in shares of ConocoPhillips by 64.7% during the third quarter. Legacy Wealth Asset Management LLC now owns 11,873 shares of the energy producer’s stock worth $1,486,000 after buying an additional 4,663 shares during the last quarter. Post Resch Tallon Group Inc. grew its holdings in shares of ConocoPhillips by 41.8% during the third quarter. Post Resch Tallon Group Inc. now owns 7,245 shares of the energy producer’s stock worth $907,000 after buying an additional 2,137 shares during the last quarter. Emergent Wealth Advisors LLC acquired a new position in ConocoPhillips in the 3rd quarter valued at about $463,000. Finally, First Heartland Consultants Inc. increased its position in ConocoPhillips by 109.6% in the 3rd quarter. First Heartland Consultants Inc. now owns 7,150 shares of the energy producer’s stock valued at $895,000 after acquiring an additional 3,738 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, SVP Andrew Lundquist sold 9,487 shares of the stock in a transaction dated Friday, August 21st. The shares were 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 of the company’s stock, valued at approximately $1,296,493.95. This trade represents a 49.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on COP. Raymond James Financial reaffirmed an “underperform” rating and set a $168.00 price objective on shares of ConocoPhillips in a research report on Monday, August 24th. UBS Group increased their price target on ConocoPhillips from $153.00 to $169.00 and gave the stock a “buy” rating in a report on Monday, September 14th. Wells Fargo & Company lifted their price objective on shares of ConocoPhillips from $183.00 to $189.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Wall Street Zen raised shares of ConocoPhillips from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Barclays cut their price objective on shares of ConocoPhillips from $155.00 to $150.00 and set an “overweight” rating for the company in a research report on Monday, August 17th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $143.29.

Key ConocoPhillips News

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Oil prices rose on supply concerns. Crude prices gained amid worries about Middle East shipping routes and a larger-than-expected decline in U.S. crude inventories. A stronger commodity backdrop typically supports ConocoPhillips’ realized prices, cash flow and earnings. ConocoPhillips gains as oil prices jump on supply fears
• Positive Sentiment: Zacks upgraded COP to “Strong Buy.” The upgrade reflects ConocoPhillips’ earnings-surprise history and what Zacks describes as favorable conditions for another quarterly earnings beat. The company’s latest reported quarter exceeded both earnings and revenue expectations, while full-year guidance was reaffirmed. Will ConocoPhillips Beat Estimates Again in Its Next Earnings Report?
• Positive Sentiment: Institutional interest provided additional support. Worth Asset Management initiated a position, while recent filings showed share additions by several large investors, including JPMorgan, BlackRock, T. Rowe Price and Charles Schwab Investment Management. Analysts tracked by Quiver Quantitative have issued buy or overweight ratings, with a reported median price target of $143.
• Positive Sentiment: Long-term LNG exposure remains a potential catalyst. ConocoPhillips agreed to purchase 1 million metric tons of LNG annually from Venture Global beginning in 2030 under a 20-year agreement. The deal expands its long-term natural-gas exposure, although the financial benefit is several years away. ConocoPhillips Could Be 11% Undervalued Following New 20 Year LNG Deal
• Neutral Sentiment: Insider activity was mixed for investors. Three insiders sold shares during the past six months, with no reported open-market purchases. These sales may raise a modest caution flag, but they do not necessarily indicate a change in the company’s operating outlook.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $134.24 on Friday. ConocoPhillips has a one year low of $85.57 and a one year high of $141.62. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.39 and a current ratio of 1.54. The business has a fifty day moving average of $129.39 and a two-hundred day moving average of $121.96. The company has a market cap of $161.27 billion, a P/E ratio of 17.76, a price-to-earnings-growth ratio of 1.35 and a beta of 0.24.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, topping 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 business had revenue of $19.52 billion for the quarter, compared to analysts’ expectations of $18.79 billion. During the same period in the prior year, the company posted $1.42 EPS. The business’s revenue for the quarter was up 32.4% on a year-over-year basis. As a group, analysts predict that ConocoPhillips will post 10.68 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 2.5%. The ex-dividend date was Monday, August 17th. ConocoPhillips’s dividend payout ratio is presently 44.44%.

ConocoPhillips 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.