Hara Capital LLC purchased a new position in ConocoPhillips (NYSE:COP – Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,940 shares of the energy producer’s stock, valued at approximately $410,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Patten Group Inc. boosted its position in shares of ConocoPhillips by 1.5% during the 1st quarter. Patten Group Inc. now owns 5,447 shares of the energy producer’s stock valued at $719,000 after purchasing an additional 83 shares in the last quarter. IFC Advisors LLC lifted its stake in ConocoPhillips by 0.4% during the first quarter. IFC Advisors LLC now owns 20,182 shares of the energy producer’s stock valued at $2,664,000 after purchasing an additional 84 shares during the last quarter. Cornerstone Planning Group LLC lifted its stake in ConocoPhillips by 9.6% during the first quarter. Cornerstone Planning Group LLC now owns 1,006 shares of the energy producer’s stock valued at $124,000 after purchasing an additional 88 shares during the last quarter. Blue Trust Inc. boosted its holdings in ConocoPhillips by 0.4% during the first quarter. Blue Trust Inc. now owns 21,144 shares of the energy producer’s stock worth $2,791,000 after buying an additional 92 shares in the last quarter. Finally, Sigma Planning Corp boosted its holdings in ConocoPhillips by 0.6% during the first quarter. Sigma Planning Corp now owns 16,062 shares of the energy producer’s stock worth $2,120,000 after buying an additional 94 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.
ConocoPhillips Trading Up 3.4%
NYSE COP opened at $135.00 on Friday. ConocoPhillips has a twelve month low of $85.57 and a twelve month high of $135.87. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.39 and a current ratio of 1.54. The stock has a market cap of $162.18 billion, a price-to-earnings ratio of 17.86, a PEG ratio of 1.44 and a beta of 0.11. The firm’s 50 day moving average price is $114.92 and its two-hundred day moving average price is $117.53.
ConocoPhillips Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 17th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Monday, August 17th. ConocoPhillips’s payout ratio is presently 44.44%.
ConocoPhillips News Summary
Here are the key news stories impacting ConocoPhillips this week:
- Positive Sentiment: Rising crude prices are supporting ConocoPhillips’ expected cash flow and earnings, providing the clearest near-term catalyst for the stock. ConocoPhillips gains as higher oil prices add to post-earnings momentum
- Positive Sentiment: Second-quarter adjusted earnings of $3.24 per share exceeded expectations, while $7.2 billion in operating cash flow, doubled share repurchases and a $0.84 quarterly dividend reinforced the company’s capital-return appeal. Full-year guidance was reaffirmed.
- Positive Sentiment: Argus raised its price target to $153 from $136 and maintained a Buy rating. The broader analyst consensus remains constructive, with a reported median target of $146 and no recent sell ratings. Argus raises ConocoPhillips price target
- Positive Sentiment: Analysts and investors continue to cite ConocoPhillips’ low-cost inventory, LNG-related growth and potential cash-flow catalysts as support for its longer-term outlook. ConocoPhillips has low-cost inventory and a major cash flow catalyst ahead
- Neutral Sentiment: Aker BP’s agreement to acquire Apache and ConocoPhillips stakes offshore Norway could streamline the portfolio, although the immediate financial effect was not specified. Aker BP to buy Apache and ConocoPhillips stakes offshore Norway
- Negative Sentiment: Valuation and execution risks are tempering the bullish outlook: the stock trades near its 52-week high, while investors are already paying a premium for earnings momentum and LNG growth. Is ConocoPhillips stock a buy as growth meets a premium valuation?
- Negative Sentiment: Insiders have reported 12 open-market sales and no purchases over the past six months, including substantial sales by senior executives. This may signal caution, although insider transactions can reflect compensation or diversification rather than a fundamental view.
Wall Street Analysts Forecast Growth
COP has been the topic of several research reports. Morgan Stanley upped their price target on ConocoPhillips from $147.00 to $151.00 and gave the company an “overweight” rating in a report on Wednesday. Raymond James Financial reduced their price objective on ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating for the company in a research note on Monday, June 1st. Barclays decreased their target price on ConocoPhillips from $155.00 to $150.00 and set an “overweight” rating on the stock in a report on Monday. Argus upped their target price on ConocoPhillips from $136.00 to $153.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Mizuho decreased their price target on 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 issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $139.21.
Check Out Our Latest Report on ConocoPhillips
ConocoPhillips Profile
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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