Avestar Capital LLC acquired a new stake in ConocoPhillips (NYSE:COP) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 5,108 shares of the energy producer’s stock, valued at approximately $215,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its holdings in shares of ConocoPhillips by 9.4% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 7,981 shares of the energy producer’s stock valued at $244,000 after purchasing an additional 688 shares during the last quarter. American National Bank raised its position in ConocoPhillips by 205.0% during the 1st quarter. American National Bank now owns 3,178 shares of the energy producer’s stock valued at $98,000 after purchasing an additional 2,136 shares in the last quarter. State of Alaska Department of Revenue raised its position in ConocoPhillips by 5.9% during the 1st quarter. State of Alaska Department of Revenue now owns 265,160 shares of the energy producer’s stock valued at $8,165,000 after purchasing an additional 14,662 shares in the last quarter. Gradient Investments LLC raised its position in ConocoPhillips by 62.2% during the 1st quarter. Gradient Investments LLC now owns 3,506 shares of the energy producer’s stock valued at $108,000 after purchasing an additional 1,344 shares in the last quarter. Finally, Private Trust Co. NA raised its position in ConocoPhillips by 7.4% during the 1st quarter. Private Trust Co. NA now owns 11,234 shares of the energy producer’s stock valued at $346,000 after purchasing an additional 772 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors.
A number of brokerages have weighed in on COP. Argus lifted their target price on ConocoPhillips from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Piper Sandler lifted their target price on ConocoPhillips from $49.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. UBS Group lifted their target price on ConocoPhillips from $50.00 to $62.00 and gave the company a “buy” rating in a research report on Monday, June 29th. Bank of America lowered ConocoPhillips from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $43.00 to $46.00 in a research report on Friday, May 1st. They noted that the move was a valuation call. Finally, Mizuho boosted their price target on ConocoPhillips from $37.00 to $46.00 in a research report on Friday, June 19th. Five investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. ConocoPhillips presently has a consensus rating of “Buy” and a consensus price target of $56.25.
COP stock opened at $37.39 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.69 and a quick ratio of 2.04. The business has a 50 day simple moving average of $41.34 and a 200-day simple moving average of $44.25. The firm has a market capitalization of $40.37 billion, a PE ratio of 18.42 and a beta of 1.69. ConocoPhillips has a 1 year low of $20.84 and a 1 year high of $67.13.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, July 30th. The energy producer reported ($0.92) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.34). The company had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $4.19 billion. ConocoPhillips had a net margin of 8.49% and a return on equity of 3.72%. During the same quarter last year, the company earned $1.01 earnings per share. On average, equities research analysts expect that ConocoPhillips will post -0.32 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, July 20th will be given a $0.42 dividend. The ex-dividend date is Friday, July 17th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.49%. ConocoPhillips’s dividend payout ratio (DPR) is presently 46.80%.
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.
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