JNBA Financial Advisors Acquires 179 Shares of ConocoPhillips (NYSE:COP)

JNBA Financial Advisors raised its stake in ConocoPhillips (NYSE:COP) by 16.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,286 shares of the energy producer’s stock after acquiring an additional 179 shares during the quarter. JNBA Financial Advisors’ holdings in ConocoPhillips were worth $135,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Proficio Capital Partners LLC increased its holdings in shares of ConocoPhillips by 11,933.6% during the fourth quarter. Proficio Capital Partners LLC now owns 1,461,117 shares of the energy producer’s stock worth $1,461,000 after buying an additional 1,448,975 shares in the last quarter. SRS Capital Advisors Inc. raised its position in ConocoPhillips by 389.3% in the fourth quarter. SRS Capital Advisors Inc. now owns 5,881 shares of the energy producer’s stock valued at $583,000 after purchasing an additional 4,679 shares during the last quarter. Modera Wealth Management LLC boosted its stake in shares of ConocoPhillips by 3.4% during the fourth quarter. Modera Wealth Management LLC now owns 10,922 shares of the energy producer’s stock valued at $1,083,000 after purchasing an additional 358 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of ConocoPhillips by 57.6% during the fourth quarter. Jones Financial Companies Lllp now owns 102,464 shares of the energy producer’s stock worth $10,161,000 after purchasing an additional 37,441 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in shares of ConocoPhillips in the fourth quarter valued at approximately $145,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Bank of America reduced their target price on shares of ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating on the stock in a report on Friday, May 23rd. Piper Sandler decreased their price objective on ConocoPhillips from $114.00 to $107.00 and set an “overweight” rating for the company in a report on Tuesday, May 13th. Royal Bank Of Canada cut their target price on ConocoPhillips from $120.00 to $115.00 and set an “outperform” rating on the stock in a report on Friday, May 30th. JPMorgan Chase & Co. reduced their price target on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Finally, Mizuho lowered their price objective on ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.50.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $91.91 on Wednesday. The business’s fifty day simple moving average is $90.04 and its 200 day simple moving average is $94.88. The company has a current ratio of 1.27, a quick ratio of 1.13 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $118.40. The firm has a market capitalization of $116.19 billion, a P/E ratio of 11.68, a price-to-earnings-growth ratio of 2.43 and a beta of 0.62.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $2.05 by $0.04. The company had revenue of $16.18 billion for the quarter, compared to analysts’ expectations of $15.74 billion. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. During the same period in the previous year, the business posted $2.05 EPS. As a group, analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips’s payout ratio is 39.64%.

Insider Buying and Selling at ConocoPhillips

In related news, EVP Kirk L. Johnson purchased 5,300 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were bought at an average price of $94.24 per share, with a total value of $499,472.00. Following the acquisition, the executive vice president owned 14,527 shares of the company’s stock, valued at $1,369,024.48. This trade represents a 57.44% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.24% 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.