Stiles Financial Services Inc Increases Stake in ConocoPhillips $COP

Stiles Financial Services Inc raised its position in ConocoPhillips (NYSE:COP) by 3.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 5,241 shares of the energy producer’s stock after purchasing an additional 186 shares during the period. Stiles Financial Services Inc’s holdings in ConocoPhillips were worth $470,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Elevation Point Wealth Partners LLC increased its stake in shares of 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 acquiring an additional 8,189 shares during the last quarter. Schwartz Investment Counsel Inc. increased its stake in shares of ConocoPhillips by 159.6% in the 1st 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 last quarter. Aberdeen Group plc increased its stake in shares of ConocoPhillips by 49.3% in the 1st 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 last quarter. ORG Wealth Partners LLC increased its stake in shares of ConocoPhillips by 853.3% in the 1st quarter. ORG Wealth Partners LLC now owns 6,616 shares of the energy producer’s stock worth $698,000 after acquiring an additional 5,922 shares during the last quarter. Finally, Hennessy Advisors Inc. increased its stake in shares of ConocoPhillips by 151.1% in the 1st quarter. Hennessy Advisors Inc. now owns 91,224 shares of the energy producer’s stock worth $9,580,000 after acquiring an additional 54,900 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $91.94 on Friday. The business has a 50-day moving average of $94.70 and a 200 day moving average of $92.69. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $115.38. The stock has a market capitalization of $114.83 billion, a price-to-earnings ratio of 12.34, a price-to-earnings-growth ratio of 2.49 and a beta of 0.62. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10.

ConocoPhillips (NYSE:COP) last announced 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. The company had revenue of $14.94 billion during 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 revenue for the quarter was up 4.3% on a year-over-year basis. During the same period last year, the business posted $1.98 EPS. As a group, sell-side analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Monday, August 18th. ConocoPhillips’s dividend payout ratio (DPR) is presently 41.88%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Mizuho cut their target price on ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Raymond James Financial cut their price objective on ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating for the company in a research report on Monday, September 8th. Wells Fargo & Company reissued an “overweight” rating and set a $117.00 price objective (up from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. Piper Sandler raised their price objective on ConocoPhillips from $123.00 to $124.00 and gave the stock an “overweight” rating in a research report on Monday, August 18th. Finally, UBS Group raised their price objective on ConocoPhillips from $116.00 to $124.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Sixteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $117.23.

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.