Vanguard Capital Wealth Advisors Makes New $554,000 Investment in ConocoPhillips $COP

Vanguard Capital Wealth Advisors purchased a new stake in shares of ConocoPhillips (NYSE:COP) in the third quarter, HoldingsChannel reports. The institutional investor purchased 4,426 shares of the energy producer’s stock, valued at approximately $554,000.

Several other hedge funds also recently modified their holdings of COP. Frazier Financial Advisors LLC raised its stake in shares of ConocoPhillips by 151.0% in the 1st quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock worth $32,000 after buying an additional 145 shares in the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in shares of ConocoPhillips during the 4th quarter valued at $25,000. Ballast Advisors LLC bought a new stake in shares of ConocoPhillips during the 1st quarter worth $36,000. Evergreen Advisors LLC bought a new stake in shares of ConocoPhillips during the 1st quarter worth $36,000. Finally, Allied Private Wealth LLC bought a new stake in shares of ConocoPhillips during the 2nd quarter worth $32,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $141.66 on Friday. The stock has a market cap of $170.19 billion, a PE ratio of 18.74, a price-to-earnings-growth ratio of 1.46 and a beta of 0.24. The business has a fifty day simple moving average of $131.53 and a 200-day simple moving average of $122.27. The company has a quick ratio of 1.39, a current ratio of 1.54 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 12 month low of $85.57 and a 12 month high of $143.13.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.90 by $0.34. The business had revenue of $19.52 billion for the quarter, compared to the consensus estimate of $18.79 billion. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%. ConocoPhillips’s revenue for the quarter was up 32.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.42 earnings per share. On average, sell-side analysts anticipate that ConocoPhillips will post 10.84 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were given a dividend of $0.84 per share. The ex-dividend date was Monday, August 17th. This represents a $3.36 dividend on an annualized basis and a yield of 2.4%. ConocoPhillips’s dividend payout ratio (DPR) is presently 44.44%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on COP shares. Truist Financial boosted their target price on ConocoPhillips from $130.00 to $136.00 and gave the stock a “hold” rating in a research report on Wednesday, October 7th. Jefferies Financial Group upped their target price on ConocoPhillips from $159.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, October 6th. Royal Bank Of Canada set a $130.00 price target on ConocoPhillips in a research report on Monday, June 22nd. Stifel Nicolaus initiated coverage on ConocoPhillips in a research note on Thursday, September 10th. They issued a “hold” rating and a $148.00 price target on the stock. Finally, Seaport Research Partners started coverage on ConocoPhillips in a research note on Thursday, September 3rd. They issued a “neutral” rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and an average target price of $143.62.

Insider Buying and Selling

In other ConocoPhillips news, SVP Andrew Lundquist sold 9,487 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the completion of the sale, the senior vice president directly owned 9,593 shares in the company, valued at approximately $1,296,493.95. This trade represents a 49.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.09% of the company’s stock.

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.