MGO One Seven LLC Purchases 1,194 Shares of ConocoPhillips (NYSE:COP)

MGO One Seven LLC raised its position in shares of ConocoPhillips (NYSE:COP) by 6.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,849 shares of the energy producer’s stock after acquiring an additional 1,194 shares during the period. MGO One Seven LLC’s holdings in ConocoPhillips were worth $2,270,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Valued Wealth Advisors LLC boosted its holdings in ConocoPhillips by 45.8% during the first quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock worth $33,000 after purchasing an additional 82 shares during the last quarter. Astoria Portfolio Advisors LLC. increased its holdings in ConocoPhillips by 4.0% during the first quarter. Astoria Portfolio Advisors LLC. now owns 2,232 shares of the energy producer’s stock worth $291,000 after buying an additional 85 shares during the last quarter. Manchester Capital Management LLC raised its position in ConocoPhillips by 22.1% during the first quarter. Manchester Capital Management LLC now owns 475 shares of the energy producer’s stock worth $60,000 after acquiring an additional 86 shares in the last quarter. Adirondack Trust Co. raised its position in ConocoPhillips by 3.1% during the fourth quarter. Adirondack Trust Co. now owns 2,990 shares of the energy producer’s stock worth $336,000 after acquiring an additional 90 shares in the last quarter. Finally, Mayfair Advisory Group LLC grew its position in shares of ConocoPhillips by 3.5% in the 1st quarter. Mayfair Advisory Group LLC now owns 2,627 shares of the energy producer’s stock valued at $334,000 after acquiring an additional 90 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

COP has been the topic of a number of research analyst reports. Barclays upped their target price on shares of ConocoPhillips from $158.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Truist Financial reduced their target price on ConocoPhillips from $147.00 to $145.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Mizuho dropped their price target on ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 5th. Susquehanna cut their price objective on shares of ConocoPhillips from $154.00 to $147.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Finally, StockNews.com downgraded ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.24.

ConocoPhillips Trading Down 1.4 %

COP opened at $102.56 on Thursday. The stock has a market capitalization of $119.95 billion, a price-to-earnings ratio of 11.61, a P/E/G ratio of 0.80 and a beta of 1.22. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34. ConocoPhillips has a twelve month low of $101.29 and a twelve month high of $135.18. The company has a 50-day simple moving average of $110.58 and a 200 day simple moving average of $116.82.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. The company had revenue of $14.14 billion during the quarter, compared to the consensus estimate of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.84 EPS. Analysts predict that ConocoPhillips will post 8.42 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were paid a $0.58 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.32 annualized dividend and a dividend yield of 2.26%. ConocoPhillips’s payout ratio is 26.27%.

Insider Transactions at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the firm’s stock in a transaction dated 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 directly owns 455,909 shares of the company’s stock, valued at $49,288,321.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.34% of the stock is owned by insiders.

About ConocoPhillips

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.