ConocoPhillips (NYSE:COP) Shares Acquired by Deroy & Devereaux Private Investment Counsel Inc.

01 Nov 2024, 10:24 by Jessica Moore · The Cerbat Gem

Deroy & Devereaux Private Investment Counsel Inc. increased its stake in ConocoPhillips (NYSE:COP – Free Report) by 1.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 246,504 shares of the energy producer’s stock after buying an additional 3,202 shares during the quarter. ConocoPhillips comprises 1.5% of Deroy & Devereaux Private Investment Counsel Inc.’s portfolio, making the stock its 28th largest position. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in ConocoPhillips were worth $25,952,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of COP. Values First Advisors Inc. acquired a new stake in ConocoPhillips during the 3rd quarter valued at approximately $26,000. Stephens Consulting LLC grew its stake in ConocoPhillips by 69.3% during the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 104 shares in the last quarter. Ruedi Wealth Management Inc. grew its stake in ConocoPhillips by 150.0% during the 1st quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock valued at $32,000 after purchasing an additional 150 shares in the last quarter. Y.D. More Investments Ltd acquired a new stake in ConocoPhillips during the 2nd quarter valued at approximately $35,000. Finally, Fairway Wealth LLC grew its stake in ConocoPhillips by 95.6% during the 2nd quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock valued at $36,000 after purchasing an additional 153 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Truist Financial lowered their price objective on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, September 30th. BMO Capital Markets increased their target price on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. UBS Group reduced their target price on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Wolfe Research began coverage on ConocoPhillips in a report on Thursday, July 18th. They set an “outperform” rating and a $145.00 target price on the stock. Finally, Wells Fargo & Company reaffirmed a “sector perform” rating on shares of ConocoPhillips in a report on Friday, October 18th. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $136.94.

Get Our Latest Stock Report on ConocoPhillips

ConocoPhillips Trading Up 6.4 %

Shares of COP stock opened at $109.54 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18. The stock has a fifty day moving average of $108.01 and a two-hundred day moving average of $113.17. The firm has a market capitalization of $127.20 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 0.84 and a beta of 1.21.

ConocoPhillips (NYSE:COP – Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping 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 company had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. During the same quarter in the previous year, the firm posted $1.84 EPS. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. As a group, research analysts expect that ConocoPhillips will post 7.76 EPS for the current year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.85%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is currently 25.86%.

Insider Transactions at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total value of $6,000,105.00. Following the sale, the director now owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.34% of the company’s stock.

ConocoPhillips Profile

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