Brooklyn Investment Group Acquires 2,640 Shares of ConocoPhillips $COP

by · The Markets Daily

Brooklyn Investment Group grew its holdings in ConocoPhillips (NYSE:COP – Free Report) by 40.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,223 shares of the energy producer’s stock after acquiring an additional 2,640 shares during the quarter. Brooklyn Investment Group’s holdings in ConocoPhillips were worth $969,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of COP. 10Elms LLP acquired a new stake in shares of ConocoPhillips in the fourth quarter valued at $28,000. Financial Network Wealth Advisors LLC boosted its holdings in ConocoPhillips by 341.5% during the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock worth $30,000 after buying an additional 222 shares during the last quarter. Stone House Investment Management LLC bought a new position in ConocoPhillips during the first quarter worth about $31,000. Garde Capital Inc. acquired a new stake in shares of ConocoPhillips during the first quarter worth about $35,000. Finally, IMA Advisory Services Inc. acquired a new stake in shares of ConocoPhillips during the first quarter worth about $37,000. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Stock Down 0.3%

Shares of NYSE:COP opened at $95.39 on Monday. The business’s 50 day simple moving average is $93.61 and its two-hundred day simple moving average is $93.35. The firm has a market cap of $119.14 billion, a P/E ratio of 12.80, a PEG ratio of 2.48 and a beta of 0.67. 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 52-week low of $79.88 and a 52-week high of $116.08.

ConocoPhillips (NYSE:COP – Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, topping the consensus estimate of $1.36 by $0.06. The firm had revenue of $14.94 billion during the quarter, compared to the consensus estimate of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.98 earnings per share. As a group, research analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 18th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, August 18th. ConocoPhillips’s dividend payout ratio (DPR) is presently 41.88%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Barclays dropped their target price on ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Wells Fargo & Company reaffirmed an “overweight” rating and set a $117.00 price target (up previously from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. UBS Group lifted their target price on ConocoPhillips from $111.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, July 11th. Scotiabank boosted their price target on ConocoPhillips from $95.00 to $100.00 and gave the company a “sector perform” rating in a research note on Friday, July 11th. Finally, Mizuho reduced their price target on ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating for the company in a research note on Tuesday, May 13th. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average price target of $120.84.

Get Our Latest Report on ConocoPhillips

Insider Activity at ConocoPhillips

In other ConocoPhillips news, EVP Kirk L. Johnson purchased 5,300 shares of the firm’s stock in a transaction that occurred on Monday, June 16th. The stock was bought at an average cost of $94.24 per share, with a total value of $499,472.00. Following the completion of the transaction, the executive vice president owned 14,527 shares of the company’s stock, valued at $1,369,024.48. The trade was a 57.44% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.24% of the company’s stock.

ConocoPhillips Company Profile

(Free Report)

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.

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