IFG Advisory LLC Invests $365,000 in ConocoPhillips (NYSE:COP)

IFG Advisory LLC acquired a new stake in shares of ConocoPhillips (NYSE:COP) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,194 shares of the energy producer’s stock, valued at approximately $365,000.

A number of other hedge funds have also recently bought and sold shares of COP. Sachetta LLC acquired a new stake in shares of ConocoPhillips during the fourth quarter worth $27,000. Cooksen Wealth LLC acquired a new stake in ConocoPhillips in the 4th quarter worth about $27,000. Cape Investment Advisory Inc. grew its holdings in ConocoPhillips by 96.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock valued at $29,000 after buying an additional 121 shares during the period. Stephens Consulting LLC increased its stake in shares of ConocoPhillips by 69.3% during the 2nd 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 last quarter. Finally, Richardson Capital Management LLC purchased a new position in shares of ConocoPhillips during the 1st quarter worth about $31,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

NYSE:COP opened at $113.79 on Monday. ConocoPhillips has a 1-year low of $102.27 and a 1-year high of $135.18. The stock has a market cap of $133.08 billion, a P/E ratio of 12.89, a PEG ratio of 0.85 and a beta of 1.24. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19. The firm has a 50-day moving average of $111.73 and a two-hundred day moving average of $117.09.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, beating 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 firm had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. ConocoPhillips’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.84 EPS. On average, research analysts expect that ConocoPhillips will post 8.5 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th will be paid a dividend of $0.58 per share. The ex-dividend date of this dividend is Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a yield of 2.04%. ConocoPhillips’s dividend payout ratio (DPR) is 26.27%.

Wall Street Analysts Forecast Growth

COP has been the subject of a number of recent analyst reports. Royal Bank of Canada boosted their target price on shares of ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, May 15th. Raymond James reissued a “strong-buy” rating and set a $159.00 price objective (up from $155.00) on shares of ConocoPhillips in a research note on Thursday, May 30th. Scotiabank cut their target price on ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Wells Fargo & Company lowered their price target on ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Finally, Truist Financial cut their price objective on ConocoPhillips from $147.00 to $145.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $143.65.

Insiders Place Their Bets

In other news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total value of $6,000,105.00. Following the sale, the director now owns 455,909 shares in the company, valued at approximately $49,288,321.99. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.34% of the stock is owned by company insiders.

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.