Cetera Investment Advisers Buys 34,054 Shares of ConocoPhillips $COP

Cetera Investment Advisers boosted its position in ConocoPhillips (NYSE:COPFree Report) by 7.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 506,470 shares of the energy producer’s stock after purchasing an additional 34,054 shares during the period. Cetera Investment Advisers’ holdings in ConocoPhillips were worth $66,854,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of COP. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in shares of ConocoPhillips during the 4th quarter valued at $25,000. Strive Asset Management LLC purchased a new position in shares of ConocoPhillips during the third quarter worth approximately $28,000. Frazier Financial Advisors LLC raised its position in ConocoPhillips by 151.0% in the 1st quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock worth $32,000 after purchasing an additional 145 shares during the period. BNP Paribas bought a new stake in ConocoPhillips in the second quarter worth $33,000. Finally, Optima Capital LLC bought a new position in ConocoPhillips during the 4th quarter worth approximately $34,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

Shares of NYSE COP opened at $120.30 on Friday. ConocoPhillips has a 12-month low of $85.57 and a 12-month high of $135.87. The firm has a market capitalization of $146.56 billion, a price-to-earnings ratio of 20.42, a price-to-earnings-growth ratio of 1.45 and a beta of 0.12. 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 firm has a 50 day moving average of $113.50 and a 200 day moving average of $114.23.

ConocoPhillips (NYSE:COPGet Free Report) last issued its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $15.62 billion. During the same quarter in the previous year, the firm posted $2.09 EPS. The company’s revenue for the quarter was down 6.1% compared to the same quarter last year. On average, research analysts anticipate that ConocoPhillips will post 9.2 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Monday, May 11th. ConocoPhillips’s payout ratio is presently 57.05%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Citigroup upped their price objective on shares of ConocoPhillips from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. Morgan Stanley lowered their price target on shares of ConocoPhillips from $153.00 to $146.00 and set an “overweight” rating for the company in a research report on Friday, June 26th. Sanford C. Bernstein boosted their target price on ConocoPhillips from $98.00 to $121.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. Piper Sandler raised their price target on ConocoPhillips from $154.00 to $157.00 and gave the company an “overweight” rating in a report on Wednesday, April 8th. Finally, Mizuho cut their price objective on shares of ConocoPhillips from $150.00 to $146.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 7th. Eighteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and an average price target of $134.16.

Read Our Latest Analysis on ConocoPhillips

About ConocoPhillips

(Free Report)

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.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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