1,050 Shares in ConocoPhillips (NYSE:COP) Bought by Ariadne Wealth Management LP

Ariadne Wealth Management LP bought a new position in shares of ConocoPhillips (NYSE:COP) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,050 shares of the energy producer’s stock, valued at approximately $120,000.

A number of other hedge funds have also bought and sold shares of the company. Orleans Capital Management Corp LA raised its stake in ConocoPhillips by 0.9% during the second quarter. Orleans Capital Management Corp LA now owns 22,465 shares of the energy producer’s stock worth $2,570,000 after buying an additional 210 shares during the last quarter. Cetera Investment Advisers increased its stake in ConocoPhillips by 7.4% in the second quarter. Cetera Investment Advisers now owns 308,413 shares of the energy producer’s stock valued at $35,276,000 after purchasing an additional 21,286 shares in the last quarter. Heartland Bank & Trust Co increased its stake in ConocoPhillips by 3.6% in the second quarter. Heartland Bank & Trust Co now owns 3,776 shares of the energy producer’s stock valued at $432,000 after purchasing an additional 130 shares in the last quarter. Advisory Alpha LLC increased its stake in ConocoPhillips by 5.2% in the second quarter. Advisory Alpha LLC now owns 9,042 shares of the energy producer’s stock valued at $1,034,000 after purchasing an additional 444 shares in the last quarter. Finally, Truist Financial Corp increased its stake in ConocoPhillips by 6.3% in the second quarter. Truist Financial Corp now owns 1,400,273 shares of the energy producer’s stock valued at $160,163,000 after purchasing an additional 83,032 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Up 3.9 %

ConocoPhillips stock opened at $109.38 on Wednesday. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. The stock has a market cap of $127.92 billion, a PE ratio of 12.39, a price-to-earnings-growth ratio of 0.85 and a beta of 1.22. The firm’s 50-day simple moving average is $108.68 and its 200 day simple moving average is $116.13. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.02. The business had revenue of $14.14 billion for the quarter, compared to analysts’ expectations of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.84 earnings per share. Research analysts predict that ConocoPhillips will post 8.14 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s payout ratio is 26.27%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on COP shares. Truist Financial decreased their price target on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research note on Monday. Mizuho decreased their price target on shares of ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Argus raised shares of ConocoPhillips to a “strong-buy” rating in a research note on Friday, June 7th. Bank of America reiterated a “buy” rating and set a $147.00 price objective on shares of ConocoPhillips in a report on Friday, June 14th. Finally, Sanford C. Bernstein reduced their price objective on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $140.82.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total value of $6,000,105.00. Following the transaction, the director now directly owns 455,909 shares in the company, valued at $49,288,321.99. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.