Warwick Investment Management Inc. Raises Position in ConocoPhillips $COP

by · The Cerbat Gem

Warwick Investment Management Inc. boosted its stake in ConocoPhillips (NYSE:COP – Free Report) by 7.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,885 shares of the energy producer’s stock after buying an additional 482 shares during the quarter. Warwick Investment Management Inc.’s holdings in ConocoPhillips were worth $723,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Elevation Point Wealth Partners LLC lifted its stake in ConocoPhillips by 83.0% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 18,060 shares of the energy producer’s stock worth $1,897,000 after purchasing an additional 8,189 shares in the last quarter. Schwartz Investment Counsel Inc. increased its position in shares of ConocoPhillips by 159.6% during the first quarter. Schwartz Investment Counsel Inc. now owns 48,800 shares of the energy producer’s stock worth $5,125,000 after acquiring an additional 30,000 shares during the period. Aberdeen Group plc increased its position in shares of ConocoPhillips by 49.3% during the first quarter. Aberdeen Group plc now owns 801,426 shares of the energy producer’s stock worth $83,969,000 after acquiring an additional 264,726 shares during the period. ORG Wealth Partners LLC grew its stake in shares of ConocoPhillips by 853.3% during the first quarter. ORG Wealth Partners LLC now owns 6,616 shares of the energy producer’s stock worth $698,000 after purchasing an additional 5,922 shares in the last quarter. Finally, Hennessy Advisors Inc. grew its stake in shares of ConocoPhillips by 151.1% during the first quarter. Hennessy Advisors Inc. now owns 91,224 shares of the energy producer’s stock worth $9,580,000 after purchasing an additional 54,900 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

Shares of COP stock opened at $97.08 on Wednesday. The company’s fifty day simple moving average is $93.89 and its 200-day simple moving average is $93.21. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $116.08. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The company has a market cap of $121.24 billion, a PE ratio of 13.03, a P/E/G ratio of 2.57 and a beta of 0.67.

ConocoPhillips (NYSE:COP – Get Free Report) last issued its earnings results on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, beating 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 business had revenue of $14.94 billion for the quarter, compared to the consensus estimate of $14.39 billion. During the same quarter last year, the firm posted $1.98 EPS. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, equities research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be given a $0.78 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a $3.12 annualized dividend and a dividend yield of 3.2%. ConocoPhillips’s payout ratio is presently 41.88%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Royal Bank Of Canada lowered their target price on shares of ConocoPhillips from $115.00 to $113.00 and set an “outperform” rating for the company in a research note on Friday, July 11th. Citigroup dropped their price target on ConocoPhillips from $140.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, June 11th. Susquehanna cut their price target on shares of ConocoPhillips from $114.00 to $113.00 and set a “positive” rating for the company in a report on Wednesday, July 23rd. UBS Group increased their price target on shares of ConocoPhillips from $116.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, August 20th. Finally, Bank of America dropped their target price on shares of ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating for the company in a report on Friday, May 23rd. Sixteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and a consensus price target of $120.95.

Check Out Our Latest Stock Analysis on COP

Insider Buying and Selling at ConocoPhillips

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

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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