Portfolio Design Labs LLC purchased a new stake in shares of ConocoPhillips (NYSE:COP – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 13,451 shares of the energy producer’s stock, valued at approximately $1,398,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in ConocoPhillips during the 4th quarter worth about $25,000. Strive Asset Management LLC bought a new stake in shares of ConocoPhillips in the 3rd quarter valued at about $28,000. Frazier Financial Advisors LLC raised its holdings in shares of ConocoPhillips by 151.0% in the 1st quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock valued at $32,000 after purchasing an additional 145 shares in the last quarter. Allied Private Wealth LLC purchased a new stake in shares of ConocoPhillips in the 2nd quarter worth approximately $32,000. Finally, BNP Paribas purchased a new stake in shares of ConocoPhillips in the 2nd quarter worth approximately $33,000. 82.36% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
COP has been the subject of a number of recent research reports. Raymond James Financial reduced their price objective on shares of ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating for the company in a research note on Monday, June 1st. Weiss Ratings upgraded ConocoPhillips from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 6th. Freedom Capital raised ConocoPhillips from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. The Goldman Sachs Group decreased their price objective on ConocoPhillips from $144.00 to $138.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Finally, Wells Fargo & Company raised their price objective on ConocoPhillips from $183.00 to $189.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $139.21.
ConocoPhillips Price Performance
NYSE COP opened at $135.00 on Friday. The firm’s fifty day simple moving average is $114.92 and its two-hundred day simple moving average is $117.53. 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 has a 12-month low of $85.57 and a 12-month high of $135.87. The firm has a market capitalization of $162.18 billion, a P/E ratio of 17.86, a P/E/G ratio of 1.44 and a beta of 0.11.
ConocoPhillips (NYSE:COP – Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.90 by $0.34. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.The business had revenue of $19.52 billion for the quarter, compared to the consensus estimate of $18.79 billion. During the same period in the prior year, the firm posted $1.42 earnings per share. The business’s quarterly revenue was up 32.4% on a year-over-year basis. Analysts forecast that ConocoPhillips will post 10.06 EPS for the current fiscal year.
ConocoPhillips Dividend Announcement
The firm also recently announced 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 dividend payout ratio is currently 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.
ConocoPhillips Company 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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