Journey Retirement Planning & Investment Management LLC Buys 5,574 Shares of ConocoPhillips $COP

Journey Retirement Planning & Investment Management LLC grew its stake in ConocoPhillips (NYSE:COP) by 72.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,225 shares of the energy producer’s stock after acquiring an additional 5,574 shares during the quarter. ConocoPhillips comprises approximately 1.1% of Journey Retirement Planning & Investment Management LLC’s portfolio, making the stock its 15th biggest holding. Journey Retirement Planning & Investment Management LLC’s holdings in ConocoPhillips were worth $1,655,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. State Street Corp boosted its position in shares of ConocoPhillips by 73.2% in the second quarter. State Street Corp now owns 118,591,447 shares of the energy producer’s stock worth $12,328,767,000 after acquiring an additional 50,116,727 shares during the last quarter. BlackRock Inc. lifted its position in ConocoPhillips by 3.0% during the second quarter. BlackRock Inc. now owns 93,886,457 shares of the energy producer’s stock valued at $9,760,436,000 after buying an additional 2,712,703 shares in the last quarter. Wellington Management Group LLP increased its position in shares of ConocoPhillips by 12.0% in the second quarter. Wellington Management Group LLP now owns 15,072,154 shares of the energy producer’s stock worth $1,566,901,000 after acquiring an additional 1,609,759 shares in the last quarter. Invesco Ltd. increased its holdings in ConocoPhillips by 2.2% in the 4th quarter. Invesco Ltd. now owns 13,413,036 shares of the energy producer’s stock valued at $1,255,594,000 after purchasing an additional 290,888 shares in the last quarter. Finally, Bank of America Corp DE acquired a new stake in shares of ConocoPhillips in the second quarter valued at about $1,260,482,000. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock traded up $0.40 on Friday, reaching $134.59. 1,744,522 shares of the company were exchanged, compared to its average volume of 8,101,435. The firm has a market cap of $161.69 billion, a price-to-earnings ratio of 17.81, a P/E/G ratio of 1.35 and a beta of 0.24. ConocoPhillips has a 1-year low of $85.57 and a 1-year high of $141.62. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.39 and a current ratio of 1.54. The company’s 50-day moving average is $129.39 and its two-hundred day moving average is $121.96.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, topping analysts’ consensus estimates of $2.90 by $0.34. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.The firm had revenue of $19.52 billion during the quarter, compared to the consensus estimate of $18.79 billion. During the same period in the prior year, the business earned $1.42 EPS. The firm’s revenue was up 32.4% on a year-over-year basis. As a group, research analysts expect that ConocoPhillips will post 10.68 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 17th were given a $0.84 dividend. The ex-dividend date was Monday, August 17th. This represents a $3.36 annualized dividend and a yield of 2.5%. ConocoPhillips’s dividend payout ratio (DPR) is currently 44.44%.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, SVP Andrew Lundquist sold 9,487 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $135.15, for a total value of $1,282,168.05. Following the completion of the transaction, the senior vice president owned 9,593 shares in the company, valued at approximately $1,296,493.95. This represents a 49.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.09% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on COP. Jefferies Financial Group upped their price objective on shares of ConocoPhillips from $159.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday. Weiss Ratings upgraded ConocoPhillips from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, September 29th. Wells Fargo & Company increased their target price on ConocoPhillips from $183.00 to $189.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Royal Bank Of Canada set a $130.00 price target on shares of ConocoPhillips in a research report on Monday, June 22nd. Finally, Stifel Nicolaus assumed coverage on shares of ConocoPhillips in a research note on Thursday, September 10th. They set a “hold” rating and a $148.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus target price of $143.29.

About ConocoPhillips

ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged in finding, developing and producing crude oil, natural gas, natural gas liquids and liquefied natural gas. Unlike integrated energy companies, ConocoPhillips focuses primarily on upstream activities rather than refining and retail fuel operations.

The company has a diversified portfolio of assets in major producing regions, including the United States, Canada, Australia, Norway and Qatar. Its U.S. operations include oil and gas developments in Alaska and the Lower 48 states, while its international portfolio includes conventional and offshore projects.