ConocoPhillips (NYSE:COP) Shares Purchased by Menard Financial Group LLC

Menard Financial Group LLC raised its stake in ConocoPhillips (NYSE:COP) by 22.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,626 shares of the energy producer’s stock after acquiring an additional 1,385 shares during the period. Menard Financial Group LLC’s holdings in ConocoPhillips were worth $872,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Cooksen Wealth LLC acquired a new position in ConocoPhillips during the 4th quarter valued at approximately $27,000. Sachetta LLC acquired a new position in shares of ConocoPhillips during the fourth quarter valued at $27,000. Richardson Capital Management LLC bought a new position in shares of ConocoPhillips during the first quarter worth about $31,000. Cape Investment Advisory Inc. increased its holdings in shares of ConocoPhillips by 96.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock worth $29,000 after acquiring an additional 121 shares during the period. Finally, Ruedi Wealth Management Inc. increased its holdings in shares of ConocoPhillips by 150.0% in the 1st quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock worth $32,000 after acquiring an additional 150 shares during the period. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Price Performance

NYSE COP opened at $103.50 on Monday. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18. The business’s fifty day moving average is $110.16 and its two-hundred day moving average is $116.73. The stock has a market capitalization of $121.05 billion, a P/E ratio of 11.72, a P/E/G ratio of 0.78 and a beta of 1.22. 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 announced its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $14.96 billion. During the same period in the previous year, the firm earned $1.84 earnings per share. ConocoPhillips’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, research analysts forecast that ConocoPhillips will post 8.41 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were issued a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 2.24%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s payout ratio is 26.27%.

Insider Transactions at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of the stock in a transaction 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 sale, the director now owns 455,909 shares in the company, valued at $49,288,321.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

COP has been the subject of several recent analyst reports. Sanford C. Bernstein decreased their target price on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 target price on shares of ConocoPhillips in a research note on Friday. UBS Group boosted their price target on ConocoPhillips from $151.00 to $153.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. StockNews.com lowered ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Truist Financial reduced their price objective on shares of ConocoPhillips from $147.00 to $145.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.24.

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.