StoneX Group Inc. Increases Stock Holdings in ConocoPhillips $COP

StoneX Group Inc. increased its stake in shares of ConocoPhillips (NYSE:COP) by 510.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 29,285 shares of the energy producer’s stock after purchasing an additional 24,488 shares during the quarter. StoneX Group Inc.’s holdings in ConocoPhillips were worth $2,628,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of COP. Bogart Wealth LLC raised its stake in shares of ConocoPhillips by 136.8% in the second quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock valued at $28,000 after acquiring an additional 182 shares during the period. Activest Wealth Management boosted its stake in shares of ConocoPhillips by 249.5% during the 2nd quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock worth $29,000 after purchasing an additional 232 shares during the period. Financial Network Wealth Advisors LLC grew its holdings in ConocoPhillips by 341.5% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock valued at $30,000 after purchasing an additional 222 shares during the last quarter. Stone House Investment Management LLC purchased a new stake in ConocoPhillips in the 1st quarter worth about $31,000. Finally, Clal Insurance Enterprises Holdings Ltd lifted its stake in ConocoPhillips by 418.6% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 363 shares of the energy producer’s stock worth $38,000 after purchasing an additional 293 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on COP. Evercore ISI cut their target price on ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating on the stock in a research note on Monday, October 6th. Piper Sandler restated an “overweight” rating and set a $115.00 price objective on shares of ConocoPhillips in a report on Monday, November 24th. Wells Fargo & Company began coverage on ConocoPhillips in a research note on Friday, October 17th. They issued an “equal weight” rating and a $100.00 target price on the stock. UBS Group decreased their target price on ConocoPhillips from $122.00 to $117.00 and set a “buy” rating for the company in a research report on Wednesday, November 12th. Finally, Capital One Financial upped their price target on shares of ConocoPhillips from $111.00 to $112.00 in a report on Friday, October 3rd. Nineteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $114.77.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, Director William H. Mcraven purchased 5,768 shares of the stock in a transaction dated Monday, November 10th. The stock was purchased at an average price of $86.68 per share, with a total value of $499,970.24. Following the transaction, the director owned 5,768 shares of the company’s stock, valued at approximately $499,970.24. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.24% of the company’s stock.

ConocoPhillips Trading Up 0.7%

Shares of NYSE COP opened at $93.73 on Friday. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $106.20. The firm has a market cap of $115.82 billion, a PE ratio of 13.26, a price-to-earnings-growth ratio of 2.11 and a beta of 0.32. The business has a fifty day simple moving average of $89.54 and a two-hundred day simple moving average of $91.80. The company has a quick ratio of 1.18, a current ratio of 1.32 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, November 6th. The energy producer reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.20. The business had revenue of $15.03 billion for the quarter, compared to the consensus estimate of $14.51 billion. ConocoPhillips had a return on equity of 13.64% and a net margin of 14.25%.The business’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.78 EPS. Analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 17th were issued a $0.84 dividend. The ex-dividend date was Monday, November 17th. This represents a $3.36 annualized dividend and a dividend yield of 3.6%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.78. ConocoPhillips’s dividend payout ratio (DPR) is presently 47.52%.

About ConocoPhillips

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.