Ransom Advisory Ltd Purchases Shares of 8,014 ConocoPhillips $COP

Ransom Advisory Ltd purchased a new stake in ConocoPhillips (NYSE:COP) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 8,014 shares of the energy producer’s stock, valued at approximately $842,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. 10Elms LLP acquired a new position in ConocoPhillips in the fourth quarter valued at approximately $28,000. Financial Network Wealth Advisors LLC boosted its holdings in ConocoPhillips by 341.5% in the first 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 in the last quarter. Stone House Investment Management LLC acquired a new position in ConocoPhillips in the first quarter valued at approximately $31,000. Garde Capital Inc. acquired a new position in ConocoPhillips in the first quarter valued at approximately $35,000. Finally, IMA Advisory Services Inc. acquired a new position in ConocoPhillips in the first quarter valued at approximately $37,000. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Trading Up 0.5%

NYSE:COP opened at $91.86 on Wednesday. The stock has a fifty day moving average price of $94.79 and a two-hundred day moving average price of $93.03. The stock has a market capitalization of $114.73 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 2.39 and a beta of 0.69. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $116.08.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.06. The company had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.ConocoPhillips’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.98 earnings per share. As a group, sell-side analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were issued a $0.78 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.12 annualized dividend and a yield of 3.4%. ConocoPhillips’s dividend payout ratio is 41.88%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on COP shares. Royal Bank Of Canada lowered their price target on ConocoPhillips from $115.00 to $113.00 and set an “outperform” rating for the company in a report on Friday, July 11th. Piper Sandler increased their price objective on ConocoPhillips from $123.00 to $124.00 and gave the company an “overweight” rating in a report on Monday, August 18th. Scotiabank increased their price objective on ConocoPhillips from $95.00 to $100.00 and gave the company a “sector perform” rating in a report on Friday, July 11th. Roth Capital restated a “buy” rating on shares of ConocoPhillips in a research note on Wednesday, September 3rd. Finally, Bank of America cut their price target on ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating for the company in a research note on Friday, May 23rd. Sixteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and an average target price of $120.86.

Insiders Place Their Bets

In other news, EVP Kirk L. Johnson bought 5,300 shares of the stock in a transaction on Monday, June 16th. The shares were bought at an average price of $94.24 per share, with a total value of $499,472.00. Following the completion of the acquisition, the executive vice president owned 14,527 shares of the company’s stock, valued at approximately $1,369,024.48. This trade represents a 57.44% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.24% of the company’s stock.

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.