3,642 ConocoPhillips $COP Shares Purchased by McAlvany Wealth Management LLC

McAlvany Wealth Management LLC grew its holdings in ConocoPhillips (NYSE:COP) by 7.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 52,353 shares of the energy producer’s stock after purchasing an additional 3,642 shares during the quarter. ConocoPhillips makes up approximately 3.2% of McAlvany Wealth Management LLC’s holdings, making the stock its 6th biggest holding. McAlvany Wealth Management LLC’s holdings in ConocoPhillips were worth $6,552,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. State Street Corp lifted its stake in shares of ConocoPhillips by 73.2% in the 2nd quarter. State Street Corp now owns 118,591,447 shares of the energy producer’s stock valued at $12,328,767,000 after purchasing an additional 50,116,727 shares during the period. BlackRock Inc. grew its stake in shares of ConocoPhillips by 3.0% during the second quarter. BlackRock Inc. now owns 93,886,457 shares of the energy producer’s stock worth $9,760,436,000 after purchasing an additional 2,712,703 shares during the period. Wellington Management Group LLP grew its stake in shares of ConocoPhillips by 12.0% during the second quarter. Wellington Management Group LLP now owns 15,072,154 shares of the energy producer’s stock worth $1,566,901,000 after purchasing an additional 1,609,759 shares during the period. Bank of America Corp DE acquired a new stake in shares of ConocoPhillips during the second quarter worth $1,260,482,000. Finally, Primecap Management Co. CA bought a new stake in ConocoPhillips in the second quarter valued at about $1,204,726,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

Shares of COP stock opened at $146.76 on Tuesday. The stock has a market cap of $176.30 billion, a P/E ratio of 19.41, a P/E/G ratio of 1.45 and a beta of 0.24. 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 company has a fifty day moving average price of $136.37 and a two-hundred day moving average price of $121.30. ConocoPhillips has a one year low of $85.57 and a one year high of $154.28.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, topping 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 company had revenue of $19.52 billion during the quarter, compared to the consensus estimate of $18.79 billion. During the same period in the previous year, the company posted $1.42 EPS. The firm’s revenue for the quarter was up 32.4% compared to the same quarter last year. As a group, equities analysts predict that ConocoPhillips will post 11.41 EPS for the current year.

ConocoPhillips Dividend Announcement

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

Insider Activity at ConocoPhillips

In other news, SVP Andrew Lundquist sold 9,487 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the transaction, the senior vice president owned 9,593 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on COP shares. Raymond James Financial reissued an “outperform” rating and issued a $170.00 target price on shares of ConocoPhillips in a research note on Monday. Truist Financial increased their price target on shares of ConocoPhillips from $130.00 to $136.00 and gave the company a “hold” rating in a research report on Wednesday, October 7th. Freedom Capital upgraded shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. Zacks Research upgraded shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. Finally, Susquehanna lifted their price target on shares of ConocoPhillips from $161.00 to $175.00 and gave the stock a “positive” rating in a research report on Tuesday, October 20th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $145.08.

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.