PFG Advisors Sells 206 Shares of ConocoPhillips (NYSE:COP)
PFG Advisors lessened its holdings in ConocoPhillips (NYSE:COP – Get Rating) by 7.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,715 shares of the energy producer’s stock after selling 206 shares during the period. PFG Advisors’ holdings in ConocoPhillips were worth $271,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in COP. Delos Wealth Advisors LLC increased its position in ConocoPhillips by 1,300.0% in the fourth quarter. Delos Wealth Advisors LLC now owns 378 shares of the energy producer’s stock worth $27,000 after purchasing an additional 351 shares during the last quarter. Lenox Wealth Advisors LLC increased its position in ConocoPhillips by 435.6% in the fourth quarter. Lenox Wealth Advisors LLC now owns 482 shares of the energy producer’s stock worth $35,000 after purchasing an additional 392 shares during the last quarter. Pittenger & Anderson Inc. increased its position in ConocoPhillips by 49.9% in the fourth quarter. Pittenger & Anderson Inc. now owns 526 shares of the energy producer’s stock worth $38,000 after purchasing an additional 175 shares during the last quarter. DeDora Capital Inc. bought a new position in ConocoPhillips during the first quarter valued at $39,000. Finally, Tyler Stone Wealth Management bought a new position in ConocoPhillips during the fourth quarter valued at $47,000. Institutional investors own 78.80% of the company’s stock.
In related news, CEO Ryan Michael Lance sold 584,900 shares of the stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of $121.21, for a total value of $70,895,729.00. Following the transaction, the chief executive officer now owns 44,522 shares in the company, valued at approximately $5,396,511.62. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Nicholas G. Olds sold 19,200 shares of the stock in a transaction that occurred on Wednesday, May 25th. The stock was sold at an average price of $110.51, for a total transaction of $2,121,792.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 644,703 shares of company stock worth $77,172,426. Corporate insiders own 0.40% of the company’s stock.
COP stock opened at $89.81 on Friday. The firm has a market cap of $116.16 billion, a price-to-earnings ratio of 9.26, a PEG ratio of 0.32 and a beta of 1.34. The firm has a 50-day simple moving average of $103.81 and a two-hundred day simple moving average of $94.96. ConocoPhillips has a one year low of $51.41 and a one year high of $124.08. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.41 and a current ratio of 1.51.
ConocoPhillips (NYSE:COP – Get Rating) last released its quarterly earnings results on Thursday, May 5th. The energy producer reported $3.27 EPS for the quarter, beating the consensus estimate of $3.24 by $0.03. ConocoPhillips had a net margin of 22.52% and a return on equity of 24.89%. The business had revenue of $19.29 billion during the quarter, compared to analyst estimates of $18.36 billion. During the same period in the prior year, the firm posted $0.69 earnings per share. The company’s quarterly revenue was up 82.7% on a year-over-year basis. As a group, equities analysts predict that ConocoPhillips will post 15 earnings per share for the current fiscal year.
The business also recently disclosed a dividend, which will be paid on Friday, July 15th. Stockholders of record on Tuesday, June 28th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Monday, June 27th. This represents a dividend yield of 3.21%. This is an increase from ConocoPhillips’s previous dividend of $0.30. ConocoPhillips’s dividend payout ratio is 18.97%.
A number of research analysts have weighed in on the stock. Truist Financial boosted their price objective on shares of ConocoPhillips from $115.00 to $130.00 in a research report on Thursday, April 21st. Morgan Stanley cut their price objective on shares of ConocoPhillips from $120.00 to $118.00 and set an “overweight” rating on the stock in a research report on Monday, June 6th. StockNews.com upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating in a research report on Saturday, May 14th. Raymond James boosted their target price on shares of ConocoPhillips from $120.00 to $160.00 and gave the company a “strong-buy” rating in a research note on Monday, April 25th. Finally, Mizuho boosted their target price on shares of ConocoPhillips from $150.00 to $157.00 and gave the company a “buy” rating in a research note on Tuesday, May 31st. Three equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and an average target price of $112.76.
ConocoPhillips Company Profile (Get Rating)
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.
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