ConocoPhillips $COP Shares Acquired by Apollon Wealth Management LLC

by · The Markets Daily

Apollon Wealth Management LLC increased its holdings in ConocoPhillips (NYSE:COP – Free Report) by 6.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 29,319 shares of the energy producer’s stock after buying an additional 1,874 shares during the period. Apollon Wealth Management LLC’s holdings in ConocoPhillips were worth $2,631,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its position in ConocoPhillips by 379.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer’s stock valued at $4,210,751,000 after purchasing an additional 31,736,423 shares during the last quarter. Wellington Management Group LLP lifted its position in ConocoPhillips by 1.4% in the 1st quarter. Wellington Management Group LLP now owns 31,610,608 shares of the energy producer’s stock valued at $3,319,746,000 after purchasing an additional 437,709 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in ConocoPhillips by 30.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock valued at $942,297,000 after purchasing an additional 2,080,625 shares during the last quarter. Ameriprise Financial Inc. lifted its position in ConocoPhillips by 15.1% in the 1st quarter. Ameriprise Financial Inc. now owns 8,202,861 shares of the energy producer’s stock valued at $861,490,000 after purchasing an additional 1,073,906 shares during the last quarter. Finally, Nuveen LLC bought a new stake in ConocoPhillips in the 1st quarter valued at about $658,981,000. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Stock Down 4.5%

COP stock opened at $87.83 on Monday. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $115.38. The company has a market capitalization of $109.70 billion, a price-to-earnings ratio of 11.79, a price-to-earnings-growth ratio of 2.33 and a beta of 0.62. The firm’s 50-day moving average is $94.60 and its two-hundred day moving average is $92.44. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35.

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

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Monday, August 18th. ConocoPhillips’s payout ratio is presently 41.88%.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Royal Bank Of Canada cut their price objective on shares of ConocoPhillips from $115.00 to $113.00 and set an “outperform” rating on the stock in a research report on Friday, July 11th. Melius assumed coverage on shares of ConocoPhillips in a research report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 price objective on the stock. Susquehanna cut their price objective on shares of ConocoPhillips from $114.00 to $113.00 and set a “positive” rating on the stock in a research report on Wednesday, July 23rd. Morgan Stanley reiterated an “overweight” rating and issued a $123.00 price objective (up from $119.00) on shares of ConocoPhillips in a research report on Sunday, August 10th. Finally, Piper Sandler boosted their price target on shares of ConocoPhillips from $123.00 to $124.00 and gave the stock an “overweight” rating in a research report on Monday, August 18th. Sixteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and a consensus price target of $117.52.

Read Our Latest Research Report on COP

About ConocoPhillips

(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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