Atticus Wealth Management LLC Purchases 840 Shares of ConocoPhillips (NYSE:COP)

Atticus Wealth Management LLC grew its stake in shares of ConocoPhillips (NYSE:COPGet Rating) by 600.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 980 shares of the energy producer’s stock after purchasing an additional 840 shares during the period. Atticus Wealth Management LLC’s holdings in ConocoPhillips were worth $88,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in COP. Capital World Investors raised its holdings in shares of ConocoPhillips by 62.4% during the first quarter. Capital World Investors now owns 23,463,085 shares of the energy producer’s stock valued at $2,346,309,000 after purchasing an additional 9,014,700 shares during the period. Diamond Hill Capital Management Inc. acquired a new position in shares of ConocoPhillips during the first quarter valued at about $702,569,000. BlackRock Inc. raised its holdings in shares of ConocoPhillips by 3.4% during the fourth quarter. BlackRock Inc. now owns 111,073,845 shares of the energy producer’s stock valued at $8,017,310,000 after purchasing an additional 3,652,817 shares during the period. Capital Research Global Investors raised its holdings in shares of ConocoPhillips by 28.2% during the first quarter. Capital Research Global Investors now owns 12,335,053 shares of the energy producer’s stock valued at $1,233,506,000 after purchasing an additional 2,715,820 shares during the period. Finally, Cowa LLC raised its holdings in shares of ConocoPhillips by 6,475.2% in the 1st quarter. Cowa LLC now owns 2,375,224 shares of the energy producer’s stock worth $2,383,000 after acquiring an additional 2,339,100 shares during the last quarter. Institutional investors and hedge funds own 79.66% of the company’s stock.

ConocoPhillips Stock Down 0.9 %

Shares of ConocoPhillips stock opened at $111.09 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.44 and a current ratio of 1.54. The stock has a market capitalization of $143.69 billion, a PE ratio of 9.17, a price-to-earnings-growth ratio of 0.39 and a beta of 1.31. ConocoPhillips has a 52-week low of $60.21 and a 52-week high of $124.08. The company has a 50-day simple moving average of $101.85 and a two-hundred day simple moving average of $101.18.

ConocoPhillips (NYSE:COPGet Rating) last issued its earnings results on Thursday, August 4th. The energy producer reported $3.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.95 by ($0.04). ConocoPhillips had a return on equity of 31.24% and a net margin of 23.10%. During the same quarter in the previous year, the firm earned $1.27 earnings per share. On average, analysts anticipate that ConocoPhillips will post 14.54 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently announced a None dividend, which was paid on Thursday, September 1st. Shareholders of record on Tuesday, August 16th were issued a $1.40 dividend. The ex-dividend date was Thursday, September 29th. ConocoPhillips’s dividend payout ratio (DPR) is presently 15.19%.

Insiders Place Their Bets

In other ConocoPhillips news, EVP Nicholas G. Olds sold 10,950 shares of ConocoPhillips stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $116.52, for a total value of $1,275,894.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on COP. MKM Partners upped their target price on shares of ConocoPhillips from $110.00 to $118.00 and gave the stock a “buy” rating in a report on Friday, August 26th. Bank of America upped their target price on shares of ConocoPhillips from $134.00 to $140.00 and gave the stock a “buy” rating in a report on Monday. Truist Financial decreased their price objective on shares of ConocoPhillips from $126.00 to $123.00 and set a “buy” rating for the company in a research note on Wednesday, July 13th. StockNews.com lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Tuesday, August 16th. Finally, Morgan Stanley increased their price objective on shares of ConocoPhillips from $117.00 to $118.00 and gave the company an “overweight” rating in a research note on Monday, August 29th. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.79.

ConocoPhillips Company Profile

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ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.

Further Reading

Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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