Prudent Man Advisors LLC Grows Stock Position in ConocoPhillips $COP

Prudent Man Advisors LLC lifted its stake in ConocoPhillips (NYSE:COP) by 30.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,205 shares of the energy producer’s stock after purchasing an additional 1,906 shares during the period. Prudent Man Advisors LLC’s holdings in ConocoPhillips were worth $736,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Brighton Jones LLC boosted its holdings in ConocoPhillips by 48.5% in the second quarter. Brighton Jones LLC now owns 19,562 shares of the energy producer’s stock valued at $1,755,000 after purchasing an additional 6,386 shares during the period. Linden Thomas Advisory Services LLC boosted its holdings in ConocoPhillips by 3.3% in the second quarter. Linden Thomas Advisory Services LLC now owns 13,820 shares of the energy producer’s stock valued at $1,240,000 after purchasing an additional 436 shares during the period. Peterson Wealth Services boosted its holdings in ConocoPhillips by 2.1% in the second quarter. Peterson Wealth Services now owns 61,457 shares of the energy producer’s stock valued at $5,515,000 after purchasing an additional 1,268 shares during the period. CNB Bank boosted its holdings in ConocoPhillips by 2.5% in the second quarter. CNB Bank now owns 9,813 shares of the energy producer’s stock valued at $881,000 after purchasing an additional 236 shares during the period. Finally, PKO Investment Management Joint Stock Co boosted its holdings in ConocoPhillips by 8.6% in the second quarter. PKO Investment Management Joint Stock Co now owns 37,819 shares of the energy producer’s stock valued at $3,394,000 after purchasing an additional 3,000 shares during the period. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Stock Down 2.3%

Shares of NYSE COP opened at $88.01 on Friday. The company has a market capitalization of $109.92 billion, a price-to-earnings ratio of 11.81, a price-to-earnings-growth ratio of 2.35 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. The business has a 50-day moving average of $93.32 and a two-hundred day moving average of $91.98. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $115.38.

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

ConocoPhillips Dividend Announcement

The company 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 was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.5%. ConocoPhillips’s payout ratio is 41.88%.

Analyst Upgrades and Downgrades

COP has been the subject of a number of recent research reports. Roth Capital decreased their target price on ConocoPhillips from $108.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, October 15th. Piper Sandler decreased their target price on ConocoPhillips from $124.00 to $115.00 and set an “overweight” rating for the company in a report on Monday, October 13th. Barclays decreased their price target on ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating for the company in a report on Tuesday, October 7th. Morgan Stanley decreased their price target on ConocoPhillips from $123.00 to $122.00 and set an “overweight” rating for the company in a report on Tuesday, October 14th. Finally, BMO Capital Markets lifted their price target on ConocoPhillips from $115.00 to $117.00 and gave the stock an “outperform” rating in a report on Monday, October 13th. Eighteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $115.63.

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.