Hanlon Investment Management Inc. Grows Stock Holdings in ConocoPhillips (NYSE:COP)

Hanlon Investment Management Inc. grew its stake in shares of ConocoPhillips (NYSE:COP) by 14.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,867 shares of the energy producer’s stock after acquiring an additional 233 shares during the period. Hanlon Investment Management Inc.’s holdings in ConocoPhillips were worth $214,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Sachetta LLC purchased a new stake in ConocoPhillips during the 4th quarter worth about $27,000. Cooksen Wealth LLC bought a new stake in shares of ConocoPhillips during the fourth quarter valued at about $27,000. Cape Investment Advisory Inc. lifted its holdings in shares of ConocoPhillips by 96.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock worth $29,000 after buying an additional 121 shares in the last quarter. Stephens Consulting LLC boosted its position in shares of ConocoPhillips by 69.3% in the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 104 shares during the period. Finally, Richardson Capital Management LLC purchased a new position in ConocoPhillips during the first quarter valued at approximately $31,000. 82.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

COP has been the topic of several recent analyst reports. Truist Financial lowered their target price on shares of ConocoPhillips from $147.00 to $145.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Sanford C. Bernstein reduced their target price on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. Mizuho lowered their price target on ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating on the stock in a report on Wednesday, June 5th. 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 report on Wednesday, May 15th. Finally, Scotiabank lowered their target price on shares of ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $143.24.

ConocoPhillips Stock Down 1.3 %

Shares of NYSE:COP traded down $1.43 on Friday, hitting $106.02. 5,229,946 shares of the company traded hands, compared to its average volume of 5,660,849. The stock has a 50 day simple moving average of $111.20 and a 200-day simple moving average of $116.94. The company has a market cap of $123.99 billion, a PE ratio of 12.01, a PEG ratio of 0.85 and a beta of 1.22. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 52 week low of $102.27 and a 52 week high of $135.18.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) 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 business had revenue of $14.14 billion for the quarter, compared to analysts’ expectations of $14.96 billion. During the same period last year, the firm posted $1.84 earnings per share. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, research analysts expect that ConocoPhillips will post 8.5 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were paid a dividend of $0.58 per share. The ex-dividend date was Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.19%. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.27%.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now directly owns 455,909 shares in the company, valued at approximately $49,288,321.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.34% of the company’s stock.

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.