Wealth Alliance Advisory Group LLC Buys 1,100 Shares of ConocoPhillips (NYSE:COP)

Wealth Alliance Advisory Group LLC increased its position in shares of ConocoPhillips (NYSE:COP) by 6.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,490 shares of the energy producer’s stock after acquiring an additional 1,100 shares during the quarter. Wealth Alliance Advisory Group LLC’s holdings in ConocoPhillips were worth $2,052,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Stephens Consulting LLC increased its holdings in shares of ConocoPhillips by 69.3% in the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after acquiring an additional 104 shares in the last quarter. Richardson Capital Management LLC acquired a new stake in ConocoPhillips during the 1st quarter worth approximately $31,000. Ruedi Wealth Management Inc. lifted its stake in ConocoPhillips by 150.0% in the first quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock valued at $32,000 after buying an additional 150 shares in the last quarter. Valued Wealth Advisors LLC boosted its holdings in shares of ConocoPhillips by 45.8% in the first quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock valued at $33,000 after buying an additional 82 shares during the period. Finally, Y.D. More Investments Ltd bought a new stake in shares of ConocoPhillips during the second quarter worth $35,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Down 0.5 %

COP opened at $105.67 on Friday. The stock’s fifty day simple moving average is $109.01 and its 200 day simple moving average is $114.78. ConocoPhillips has a 1-year low of $101.29 and a 1-year high of $135.18. The stock has a market cap of $122.71 billion, a PE ratio of 11.78, a price-to-earnings-growth ratio of 0.87 and a beta of 1.21. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.02. The company had revenue of $14.14 billion for the quarter, compared to analyst estimates of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The company’s revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.84 earnings per share. As a group, research analysts expect that ConocoPhillips will post 7.99 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s dividend payout ratio is presently 25.86%.

Analyst Ratings Changes

COP has been the topic of several research reports. Truist Financial cut their price objective on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 price objective on shares of ConocoPhillips in a research report on Friday, September 13th. UBS Group dropped their target price on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $126.00 price target (down previously from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. Finally, Barclays decreased their price target on shares of ConocoPhillips from $156.00 to $135.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and an average target price of $136.94.

Insider Activity

In related news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the completion of the sale, the director now directly owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.34% of the stock is owned by company 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.