Brookstone Capital Management Boosts Holdings in ConocoPhillips $COP

Brookstone Capital Management grew its stake in shares of ConocoPhillips (NYSE:COP) by 131.1% in the first quarter, HoldingsChannel reports. The fund owned 38,169 shares of the energy producer’s stock after buying an additional 21,650 shares during the quarter. Brookstone Capital Management’s holdings in ConocoPhillips were worth $5,038,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Nicolet Advisory Services LLC boosted its position in shares of ConocoPhillips by 0.9% in the fourth quarter. Nicolet Advisory Services LLC now owns 10,352 shares of the energy producer’s stock worth $989,000 after acquiring an additional 95 shares during the last quarter. Duncan Williams Asset Management LLC increased its position in ConocoPhillips by 4.4% during the fourth quarter. Duncan Williams Asset Management LLC now owns 2,370 shares of the energy producer’s stock worth $222,000 after purchasing an additional 100 shares during the last quarter. Wedge Capital Management L L P NC increased its position in ConocoPhillips by 4.1% during the fourth quarter. Wedge Capital Management L L P NC now owns 2,570 shares of the energy producer’s stock worth $241,000 after purchasing an additional 101 shares during the last quarter. Strategic Blueprint LLC raised its stake in ConocoPhillips by 1.3% during the fourth quarter. Strategic Blueprint LLC now owns 8,018 shares of the energy producer’s stock worth $751,000 after purchasing an additional 101 shares during the period. Finally, Chesapeake Wealth Management raised its stake in ConocoPhillips by 1.5% during the fourth quarter. Chesapeake Wealth Management now owns 7,160 shares of the energy producer’s stock worth $670,000 after purchasing an additional 103 shares during the period. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

COP has been the subject of several research reports. UBS Group boosted their price objective on shares of ConocoPhillips from $130.00 to $144.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Susquehanna upped their price objective on ConocoPhillips from $149.00 to $152.00 in a report on Friday, May 1st. Barclays increased their target price on ConocoPhillips from $136.00 to $155.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Roth Mkm upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and lifted their target price for the company from $124.00 to $130.00 in a report on Monday. Finally, Jefferies Financial Group boosted their price target on ConocoPhillips from $160.00 to $161.00 and gave the company a “buy” rating in a research report on Monday, May 18th. Eighteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $134.32.

ConocoPhillips Stock Performance

Shares of COP stock opened at $110.15 on Wednesday. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. The company has a market cap of $134.20 billion, a PE ratio of 18.70, a P/E/G ratio of 1.21 and a beta of 0.11. The company’s fifty day simple moving average is $118.13 and its 200-day simple moving average is $111.67. ConocoPhillips has a 52 week low of $85.57 and a 52 week high of $135.87.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The firm had revenue of $15.76 billion during the quarter, compared to analysts’ expectations of $15.62 billion. During the same period in the prior year, the company earned $2.09 EPS. The firm’s revenue was down 6.1% on a year-over-year basis. As a group, equities research analysts anticipate that ConocoPhillips will post 10.03 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 11th were paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Monday, May 11th. ConocoPhillips’s payout ratio is currently 57.05%.

Insider Activity at ConocoPhillips

In other news, CEO Ryan Michael Lance sold 113,221 shares of the company’s stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $132.71, for a total value of $15,025,558.91. Following the completion of the sale, the chief executive officer owned 350,000 shares of the company’s stock, valued at $46,448,500. This represents a 24.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

ConocoPhillips News Summary

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Wall Street analyst coverage turned more bullish on ConocoPhillips, with one note highlighting higher price targets and a generally favorable outlook for the stock. This ConocoPhillips Analyst Turns Bullish; Here Are Top 5 Upgrades For Monday
• Positive Sentiment: Energy stocks broadly strengthened late Monday, suggesting improved sector sentiment that can support ConocoPhillips along with peers. Sector Update: Energy Stocks Rise Late Afternoon
• Positive Sentiment: Reports that ConocoPhillips is expanding its LNG reach across energy markets point to longer-term growth opportunities and diversification. Why Is ConocoPhillips (NYSE:COP) Expanding LNG Reach Across Energy Markets?
• Neutral Sentiment: Broader energy-market commentary continues to focus on oil-price volatility and sector concentration risks, which adds uncertainty but does not directly change ConocoPhillips’ outlook. XLE’s Concentration Risk Meets Oil’s Next Move: What to Monitor in June
• Negative Sentiment: One recent headline says ConocoPhillips is slipping as crude oil pressure builds, reflecting the near-term headwind from weaker oil prices. ConocoPhillips (NYSE:COP) Slips As Crude Oil Pressure Builds

ConocoPhillips Company Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.