Focused Alpha LLC purchased a new stake in ConocoPhillips (NYSE:COP – Free Report) in the 2nd quarter, HoldingsChannel reports. The fund purchased 4,700 shares of the energy producer’s stock, valued at approximately $489,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Frazier Financial Advisors LLC boosted its position in shares of ConocoPhillips by 151.0% during 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 in the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in ConocoPhillips in the 4th quarter valued at about $25,000. Ballast Advisors LLC bought a new stake in ConocoPhillips in the 1st quarter valued at about $36,000. Evergreen Advisors LLC acquired a new position in ConocoPhillips during the 1st quarter worth approximately $36,000. Finally, Allied Private Wealth LLC acquired a new position in ConocoPhillips during the 2nd quarter worth approximately $32,000. 82.36% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on COP shares. Truist Financial increased their price target on ConocoPhillips from $115.00 to $130.00 and gave the stock a “hold” rating in a report on Monday, August 10th. UBS Group lifted their price target on shares of ConocoPhillips from $143.00 to $153.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. The Goldman Sachs Group decreased their price target on shares of ConocoPhillips from $144.00 to $138.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Royal Bank Of Canada set a $130.00 price objective on shares of ConocoPhillips in a research note on Monday, June 22nd. Finally, Mizuho decreased their target price on shares of ConocoPhillips from $150.00 to $146.00 and set an “outperform” rating for the company in a research report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus target price of $137.48.
ConocoPhillips Trading Up 1.8%
Shares of ConocoPhillips stock opened at $129.82 on Wednesday. The company has a market capitalization of $155.96 billion, a P/E ratio of 17.17, a price-to-earnings-growth ratio of 1.40 and a beta of 0.11. The stock has a fifty day simple moving average of $114.31 and a 200 day simple moving average of $117.12. ConocoPhillips has a 12-month low of $85.57 and a 12-month high of $135.87. The company has a current ratio of 1.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35.
ConocoPhillips (NYSE:COP – Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, beating the consensus estimate of $2.90 by $0.34. The business had revenue of $19.52 billion for the quarter, compared to analysts’ expectations of $18.79 billion. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.The business’s revenue was up 32.4% on a year-over-year basis. During the same period last year, the business earned $1.42 EPS. On average, sell-side analysts anticipate that ConocoPhillips will post 10.05 earnings per share for the current fiscal year.
ConocoPhillips Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be issued a $0.84 dividend. The ex-dividend date is Monday, August 17th. This represents a $3.36 annualized dividend and a dividend yield of 2.6%. ConocoPhillips’s dividend payout ratio is currently 44.44%.
About ConocoPhillips
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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