7,125 Shares in ConocoPhillips (NYSE:COP) Acquired by Doheny Asset Management CA

Doheny Asset Management CA purchased a new position in shares of ConocoPhillips (NYSE:COP) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 7,125 shares of the energy producer’s stock, valued at approximately $815,000.

Several other large investors have also recently made changes to their positions in COP. Sachetta LLC purchased a new stake in shares of ConocoPhillips during the fourth quarter worth approximately $27,000. Cooksen Wealth LLC purchased a new stake in shares of ConocoPhillips during the fourth quarter worth approximately $27,000. Cape Investment Advisory Inc. increased its position in shares of ConocoPhillips by 96.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock worth $29,000 after purchasing an additional 121 shares in the last quarter. Stephens Consulting LLC increased its position in shares of ConocoPhillips by 69.3% during the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after purchasing an additional 104 shares in the last quarter. Finally, Richardson Capital Management LLC purchased a new stake in shares of ConocoPhillips during the first quarter worth approximately $31,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Truist Financial lowered their price objective on ConocoPhillips from $147.00 to $145.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Royal Bank of Canada boosted their price objective on ConocoPhillips from $135.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 15th. Scotiabank lowered their price objective on ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Sanford C. Bernstein lowered their price objective on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. Finally, Barclays upped their price target on ConocoPhillips from $158.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.24.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $105.60 on Tuesday. The stock’s 50-day moving average is $111.03 and its two-hundred day moving average is $116.98. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19. ConocoPhillips has a 1-year low of $102.27 and a 1-year high of $135.18. The company has a market cap of $122.63 billion, a price-to-earnings ratio of 11.96, a price-to-earnings-growth ratio of 0.80 and a beta of 1.22.

ConocoPhillips (NYSE:COP) last issued 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. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The company had revenue of $14.14 billion for the quarter, compared to the consensus estimate of $14.96 billion. During the same quarter in the prior year, the business earned $1.84 EPS. ConocoPhillips’s revenue was up 9.7% on a year-over-year basis. Analysts forecast that ConocoPhillips will post 8.42 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were issued a $0.58 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.20%. ConocoPhillips’s payout ratio is currently 26.27%.

Insider Activity

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

ConocoPhillips 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.