Excalibur Management Corp Acquires 96 Shares of ConocoPhillips (NYSE:COP)

Excalibur Management Corp grew its position in ConocoPhillips (NYSE:COP) by 2.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,037 shares of the energy producer’s stock after purchasing an additional 96 shares during the period. Excalibur Management Corp’s holdings in ConocoPhillips were worth $462,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cooksen Wealth LLC bought a new position in ConocoPhillips during the fourth quarter worth about $27,000. Sachetta LLC bought a new stake in ConocoPhillips during the fourth quarter valued at approximately $27,000. Richardson Capital Management LLC bought a new stake in ConocoPhillips during the first quarter valued at approximately $31,000. Cape Investment Advisory Inc. lifted its position in ConocoPhillips by 96.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 121 shares during the last quarter. Finally, Ruedi Wealth Management Inc. raised its stake in shares of ConocoPhillips by 150.0% during the first quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock worth $32,000 after acquiring an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on COP. Scotiabank decreased their target price on shares of ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Argus upgraded shares of ConocoPhillips to a “strong-buy” rating in a report on Friday, June 7th. Bank of America restated a “buy” rating and set a $147.00 target price on shares of ConocoPhillips in a report on Friday, June 14th. Wolfe Research began coverage on shares of ConocoPhillips in a report on Thursday, July 18th. They set an “outperform” rating and a $145.00 target price on the stock. Finally, Truist Financial dropped their price target on shares of ConocoPhillips from $147.00 to $145.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $143.06.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $105.56 on Tuesday. The business’s 50 day moving average price is $110.03 and its 200 day moving average price is $116.69. The firm has a market cap of $122.58 billion, a P/E ratio of 11.95, a P/E/G ratio of 0.78 and a beta of 1.22. ConocoPhillips has a 52 week low of $101.29 and a 52 week high of $135.18. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, topping the consensus estimate of $1.96 by $0.02. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The business had revenue of $14.14 billion for the quarter, compared to analyst estimates of $14.96 billion. During the same quarter in the prior year, the firm posted $1.84 EPS. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, sell-side analysts expect that ConocoPhillips will post 8.41 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s payout ratio is 26.27%.

Insider Activity at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the transaction, the director now directly owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.34% of the stock is owned by corporate insiders.

ConocoPhillips 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.