Invesco LLC Acquires 152 Shares of ConocoPhillips $COP

Invesco LLC boosted its stake in shares of ConocoPhillips (NYSE:COP) by 1.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,197 shares of the energy producer’s stock after purchasing an additional 152 shares during the quarter. Invesco LLC’s holdings in ConocoPhillips were worth $825,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tritonpoint Wealth LLC lifted its position in ConocoPhillips by 1.3% during the second quarter. Tritonpoint Wealth LLC now owns 8,329 shares of the energy producer’s stock worth $747,000 after acquiring an additional 110 shares during the last quarter. First National Bank Sioux Falls increased its stake in shares of ConocoPhillips by 4.6% during the second quarter. First National Bank Sioux Falls now owns 2,572 shares of the energy producer’s stock worth $231,000 after purchasing an additional 113 shares during the period. KLCM Advisors Inc. increased its stake in shares of ConocoPhillips by 2.6% during the first quarter. KLCM Advisors Inc. now owns 4,503 shares of the energy producer’s stock worth $473,000 after purchasing an additional 115 shares during the period. Deseret Mutual Benefit Administrators lifted its holdings in ConocoPhillips by 3.9% during the 1st quarter. Deseret Mutual Benefit Administrators now owns 3,177 shares of the energy producer’s stock worth $334,000 after purchasing an additional 118 shares during the last quarter. Finally, Oregon Pacific Wealth Management LLC boosted its stake in ConocoPhillips by 5.8% in the 2nd quarter. Oregon Pacific Wealth Management LLC now owns 2,229 shares of the energy producer’s stock valued at $200,000 after purchasing an additional 123 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Trading Up 1.7%

NYSE COP opened at $98.47 on Monday. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $116.08. The business has a 50 day moving average price of $94.85 and a 200-day moving average price of $92.99. The company has a market cap of $122.98 billion, a price-to-earnings ratio of 13.22, a P/E/G ratio of 2.59 and a beta of 0.69.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. The company had revenue of $14.94 billion for the quarter, compared to analysts’ expectations of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.ConocoPhillips’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period last year, the business earned $1.98 EPS. As a group, equities analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was 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 Analyst Weigh In

Several research analysts have weighed in on the company. Wells Fargo & Company reiterated an “overweight” rating and set a $117.00 price objective (up previously from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. Piper Sandler raised their price target on shares of ConocoPhillips from $123.00 to $124.00 and gave the stock an “overweight” rating in a research report on Monday, August 18th. BMO Capital Markets lifted their price objective on shares of ConocoPhillips from $113.00 to $115.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Morgan Stanley restated an “overweight” rating and set a $123.00 target price (up previously from $119.00) on shares of ConocoPhillips in a research report on Sunday, August 10th. Finally, Melius Research began coverage on shares of ConocoPhillips in a report on Wednesday, August 20th. They set a “hold” rating and a $117.00 target price on the stock. Sixteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus target price of $120.14.

ConocoPhillips Company 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.