Sargent Investment Group LLC Increases Stock Position in ConocoPhillips (NYSE:COP)

Sargent Investment Group LLC grew its position in shares of ConocoPhillips (NYSE:COP) by 27.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,548 shares of the energy producer’s stock after acquiring an additional 2,304 shares during the period. Sargent Investment Group LLC’s holdings in ConocoPhillips were worth $1,206,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Cardinal Capital Management Inc. purchased a new position in shares of ConocoPhillips during the fourth quarter valued at about $13,468,000. Harbor Investment Advisory LLC lifted its stake in shares of ConocoPhillips by 2.2% in the 1st quarter. Harbor Investment Advisory LLC now owns 9,697 shares of the energy producer’s stock valued at $1,234,000 after purchasing an additional 212 shares during the period. First Trust Direct Indexing L.P. boosted its position in shares of ConocoPhillips by 5.6% during the first quarter. First Trust Direct Indexing L.P. now owns 26,083 shares of the energy producer’s stock valued at $3,320,000 after purchasing an additional 1,390 shares in the last quarter. Manning & Napier Advisors LLC purchased a new stake in ConocoPhillips in the second quarter worth $30,021,000. Finally, EP Wealth Advisors LLC grew its stake in ConocoPhillips by 19.1% in the first quarter. EP Wealth Advisors LLC now owns 28,601 shares of the energy producer’s stock worth $3,640,000 after purchasing an additional 4,578 shares during the period. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Stock Up 2.0 %

Shares of COP stock opened at $105.56 on Tuesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18. The company’s fifty day moving average price is $110.03 and its 200-day moving average price is $116.69. The company has a market capitalization of $122.58 billion, a price-to-earnings ratio of 11.95, a PEG ratio of 0.78 and a beta of 1.22.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS 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 business had revenue of $14.14 billion for the quarter, compared to analysts’ expectations of $14.96 billion. During the same period last year, the firm earned $1.84 earnings per share. The business’s quarterly revenue was up 9.7% on a year-over-year basis. Sell-side analysts expect that ConocoPhillips will post 8.41 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were issued a $0.58 dividend. The ex-dividend date was Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a yield of 2.20%. ConocoPhillips’s dividend payout ratio is presently 26.27%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Susquehanna dropped their target price on shares of ConocoPhillips from $154.00 to $147.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Truist Financial decreased their target price on ConocoPhillips from $147.00 to $145.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Argus raised shares of ConocoPhillips to a “strong-buy” rating in a report on Friday, June 7th. Raymond James restated a “strong-buy” rating and issued a $159.00 target price (up previously from $155.00) on shares of ConocoPhillips in a report on Thursday, May 30th. Finally, StockNews.com lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $143.06.

Insiders Place Their Bets

In other news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction on 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 transaction, the director now owns 455,909 shares of the company’s stock, valued at $49,288,321.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.34% of the stock is currently owned by corporate insiders.

ConocoPhillips 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.