Trek Financial LLC Acquires 13,956 Shares of ConocoPhillips (NYSE:COP)

Posted by Defense World Staff on Sep 9th, 2023

ConocoPhillips logo Trek Financial LLC increased its holdings in shares of ConocoPhillips (NYSE:COP – Free Report) by 18.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 90,006 shares of the energy producer’s stock after purchasing an additional 13,956 shares during the period. Trek Financial LLC’s holdings in ConocoPhillips were worth $8,929,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Arosa Capital Management LP raised its position in shares of ConocoPhillips by 3.4% in the fourth quarter. Arosa Capital Management LP now owns 124,050 shares of the energy producer’s stock valued at $14,638,000 after buying an additional 4,050 shares in the last quarter. Axxcess Wealth Management LLC raised its position in ConocoPhillips by 168.6% during the fourth quarter. Axxcess Wealth Management LLC now owns 16,613 shares of the energy producer’s stock valued at $1,961,000 after purchasing an additional 10,429 shares in the last quarter. Royal Fund Management LLC raised its position in ConocoPhillips by 24.8% during the first quarter. Royal Fund Management LLC now owns 9,272 shares of the energy producer’s stock valued at $920,000 after purchasing an additional 1,843 shares in the last quarter. One Capital Management LLC acquired a new position in ConocoPhillips during the first quarter valued at approximately $270,000. Finally, Herold Advisors Inc. acquired a new position in ConocoPhillips during the first quarter valued at approximately $213,000. Institutional investors own 80.36% of the company’s stock.

Insider Activity

In other news, CEO Ryan Michael Lance sold 569,400 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $122.14, for a total transaction of $69,546,516.00. Following the completion of the transaction, the chief executive officer now directly owns 18,187 shares in the company, valued at approximately $2,221,360.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.37% of the company’s stock.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $122.72 on Friday. ConocoPhillips has a 52 week low of $91.53 and a 52 week high of $138.49. The company’s 50 day moving average price is $114.26 and its two-hundred day moving average price is $106.61. The company has a quick ratio of 1.28, a current ratio of 1.41 and a debt-to-equity ratio of 0.33. The stock has a market cap of $146.96 billion, a P/E ratio of 11.82, a P/E/G ratio of 0.76 and a beta of 1.30.

ConocoPhillips (NYSE:COP – Get Free Report) last released its quarterly earnings data on Thursday, August 3rd. The energy producer reported $1.84 earnings per share for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.10). ConocoPhillips had a net margin of 18.66% and a return on equity of 27.27%. The business had revenue of $12.88 billion during the quarter, compared to analysts’ expectations of $14.64 billion. During the same quarter in the prior year, the firm posted $3.91 earnings per share. On average, equities analysts predict that ConocoPhillips will post 8.87 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Wednesday, August 16th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Wednesday, September 27th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.66%. ConocoPhillips’s dividend payout ratio (DPR) is currently 19.65%.

Analyst Upgrades and Downgrades

Several brokerages have commented on COP. Jefferies Financial Group lowered their price objective on shares of ConocoPhillips from $143.00 to $141.00 and set a “buy” rating for the company in a research report on Monday, August 28th. Raymond James decreased their target price on shares of ConocoPhillips from $142.00 to $138.00 and set a “strong-buy” rating on the stock in a research note on Monday, July 24th. Erste Group Bank raised shares of ConocoPhillips from a “hold” rating to a “buy” rating in a research note on Friday. Wells Fargo & Company boosted their target price on shares of ConocoPhillips from $134.00 to $138.00 and gave the stock an “overweight” rating in a research note on Friday, August 4th. Finally, Truist Financial increased their price objective on ConocoPhillips from $148.00 to $151.00 and gave the company a “buy” rating in a report on Friday, August 4th. Five research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus price target of $134.42.

Check Out Our Latest Stock Analysis on COP

About ConocoPhillips

(Free Report)

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States and internationally. 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 global exploration prospects.