New Age Alpha Advisors LLC Increases Stock Holdings in ConocoPhillips (NYSE:COP)

New Age Alpha Advisors LLC lifted its stake in shares of ConocoPhillips (NYSE:COP) by 0.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 95,215 shares of the energy producer’s stock after buying an additional 332 shares during the period. New Age Alpha Advisors LLC’s holdings in ConocoPhillips were worth $9,999,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of COP. Price T Rowe Associates Inc. MD lifted its holdings in ConocoPhillips by 13.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer’s stock worth $4,546,706,000 after acquiring an additional 5,549,078 shares during the period. Elevation Point Wealth Partners LLC lifted its holdings in ConocoPhillips by 83.0% during the first quarter. Elevation Point Wealth Partners LLC now owns 18,060 shares of the energy producer’s stock worth $1,897,000 after acquiring an additional 8,189 shares during the period. Schwartz Investment Counsel Inc. lifted its holdings in ConocoPhillips by 159.6% during the first quarter. Schwartz Investment Counsel Inc. now owns 48,800 shares of the energy producer’s stock worth $5,125,000 after acquiring an additional 30,000 shares during the period. ORG Wealth Partners LLC lifted its holdings in ConocoPhillips by 853.3% during the first quarter. ORG Wealth Partners LLC now owns 6,616 shares of the energy producer’s stock worth $698,000 after acquiring an additional 5,922 shares during the period. Finally, Hennessy Advisors Inc. lifted its holdings in ConocoPhillips by 151.1% during the first quarter. Hennessy Advisors Inc. now owns 91,224 shares of the energy producer’s stock worth $9,580,000 after acquiring an additional 54,900 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insider Activity

In other news, EVP Kirk L. Johnson acquired 5,300 shares of the business’s stock in a transaction dated Monday, June 16th. The stock was purchased at an average cost of $94.24 per share, for a total transaction 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.24% of the company’s stock.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $92.82 on Tuesday. The firm has a market capitalization of $117.34 billion, a P/E ratio of 11.79, a P/E/G ratio of 2.41 and a beta of 0.67. The company has a quick ratio of 1.13, a current ratio of 1.27 and a debt-to-equity ratio of 0.36. The stock’s 50-day simple moving average is $92.12 and its two-hundred day simple moving average is $93.90. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $116.08.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.04. The business had revenue of $16.18 billion for the quarter, compared to analyst estimates 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 prior year, the company earned $2.05 EPS. As a group, equities analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Monday, May 19th. ConocoPhillips’s dividend payout ratio is presently 39.64%.

Wall Street Analyst Weigh In

A number of analysts recently commented on COP shares. Piper Sandler reiterated an “overweight” rating and set a $123.00 price target (up from $113.00) on shares of ConocoPhillips in a report on Tuesday, July 15th. Mizuho dropped their price target on ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. Royal Bank Of Canada lowered their target price on ConocoPhillips from $115.00 to $113.00 and set an “outperform” rating on the stock in a research note on Friday, July 11th. Scotiabank boosted their target price on ConocoPhillips from $95.00 to $100.00 and gave the company a “sector perform” rating in a research note on Friday, July 11th. Finally, Citigroup lowered their target price on ConocoPhillips from $140.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, June 11th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and an average target price of $121.33.

About ConocoPhillips

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.