Apollon Wealth Management LLC Has $2.81 Million Stake in ConocoPhillips (NYSE:COP)

Apollon Wealth Management LLC grew its stake in shares of ConocoPhillips (NYSE:COP) by 8.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,558 shares of the energy producer’s stock after buying an additional 1,878 shares during the period. Apollon Wealth Management LLC’s holdings in ConocoPhillips were worth $2,809,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of COP. Cooksen Wealth LLC bought a new stake in ConocoPhillips in the fourth quarter valued at approximately $27,000. Sachetta LLC bought a new stake in shares of ConocoPhillips in the 4th quarter valued at $27,000. Richardson Capital Management LLC acquired a new stake in ConocoPhillips during the 1st quarter worth $31,000. Cape Investment Advisory Inc. lifted its holdings in 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 acquiring an additional 121 shares in the last quarter. Finally, Ruedi Wealth Management Inc. grew its stake in ConocoPhillips by 150.0% in the first quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock valued at $32,000 after acquiring an additional 150 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Trading Up 0.5 %

ConocoPhillips stock opened at $111.76 on Tuesday. The stock has a 50-day simple moving average of $111.53 and a 200 day simple moving average of $117.04. The stock has a market capitalization of $129.78 billion, a P/E ratio of 12.66, a PEG ratio of 2.18 and a beta of 1.24. 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 has a 52 week low of $102.27 and a 52 week high of $135.18.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share 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 business 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 EPS. The firm’s revenue was up 9.7% compared to the same quarter last year. Analysts expect that ConocoPhillips will post 8.64 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, August 12th will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Monday, August 12th. ConocoPhillips’s payout ratio is 26.27%.

Insider Activity at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of the business’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 transaction 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.34% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

COP has been the topic of several recent analyst reports. Wells Fargo & Company cut their price objective on ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. StockNews.com cut shares of ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Scotiabank dropped their price objective on shares of ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Susquehanna upped their target price on shares of ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a research note on Monday, April 22nd. Finally, Raymond James reissued a “strong-buy” rating and issued a $159.00 price target (up previously from $155.00) on shares of ConocoPhillips in a research note on Thursday, May 30th. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.53.

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.