Patriot Financial Group Insurance Agency LLC Has $8.05 Million Position in ConocoPhillips $COP

Patriot Financial Group Insurance Agency LLC increased its stake in ConocoPhillips (NYSE:COP) by 102.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,984 shares of the energy producer’s stock after purchasing an additional 30,831 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in ConocoPhillips were worth $8,050,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in shares of ConocoPhillips in the 4th quarter valued at $25,000. KERR FINANCIAL PLANNING Corp bought a new stake in shares of ConocoPhillips during the third quarter worth $28,000. Board of the Pension Protection Fund acquired a new position in shares of ConocoPhillips during the fourth quarter valued at $28,000. Strive Asset Management LLC acquired a new position in shares of ConocoPhillips during the third quarter valued at $28,000. Finally, BNP Paribas bought a new position in ConocoPhillips in the second quarter valued at about $33,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of COP stock opened at $105.63 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. ConocoPhillips has a 52 week low of $85.57 and a 52 week high of $135.87. The company’s 50 day moving average price is $117.29 and its two-hundred day moving average price is $111.81. The company has a market capitalization of $128.69 billion, a P/E ratio of 17.93, a price-to-earnings-growth ratio of 1.17 and a beta of 0.11.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.17. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The company had revenue of $15.76 billion during the quarter, compared to analysts’ expectations of $15.62 billion. During the same quarter in the prior year, the company earned $2.09 earnings per share. The business’s quarterly revenue was down 6.1% compared to the same quarter last year. On average, analysts expect that ConocoPhillips will post 10.03 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were paid a $0.84 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $3.36 dividend on an annualized basis and a yield of 3.2%. ConocoPhillips’s dividend payout ratio is presently 57.05%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on COP. BMO Capital Markets lowered their price target on shares of ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. Wall Street Zen raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Raymond James Financial lowered their price objective on shares of ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating for the company in a research report on Monday, June 1st. Freedom Capital downgraded ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 6th. Finally, Roth Mkm upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $124.00 to $130.00 in a report on Monday, June 22nd. Eighteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $134.04.

Insiders Place Their Bets

In other ConocoPhillips news, CEO Ryan Michael Lance sold 113,221 shares of the stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $132.71, for a total transaction of $15,025,558.91. Following the completion of the transaction, the chief executive officer owned 350,000 shares in the company, valued at approximately $46,448,500. This represents a 24.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.09% of the company’s stock.

About ConocoPhillips

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.