Tranquilli Financial Advisor LLC Raises Stock Holdings in ConocoPhillips (NYSE:COP)

Tranquilli Financial Advisor LLC lifted its holdings in ConocoPhillips (NYSE:COP) by 3.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,894 shares of the energy producer’s stock after buying an additional 170 shares during the quarter. Tranquilli Financial Advisor LLC’s holdings in ConocoPhillips were worth $619,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. AIA Group Ltd raised its holdings in shares of ConocoPhillips by 100.0% in the first quarter. AIA Group Ltd now owns 41,263 shares of the energy producer’s stock worth $4,333,000 after buying an additional 20,633 shares during the period. Financial Engines Advisors L.L.C. bought a new position in ConocoPhillips in the first quarter worth approximately $218,000. Longfellow Investment Management Co. LLC grew its stake in ConocoPhillips by 17.0% in the first quarter. Longfellow Investment Management Co. LLC now owns 14,277 shares of the energy producer’s stock worth $1,499,000 after purchasing an additional 2,075 shares in the last quarter. Meridian Wealth Management LLC grew its stake in ConocoPhillips by 18.6% in the first quarter. Meridian Wealth Management LLC now owns 6,307 shares of the energy producer’s stock worth $662,000 after purchasing an additional 990 shares in the last quarter. Finally, Maia Wealth LLC grew its stake in ConocoPhillips by 4.7% in the first quarter. Maia Wealth LLC now owns 5,054 shares of the energy producer’s stock worth $531,000 after purchasing an additional 226 shares in the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Citigroup dropped their price objective on ConocoPhillips from $140.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, June 11th. Piper Sandler reissued an “overweight” rating and issued a $123.00 price objective (up previously from $113.00) on shares of ConocoPhillips in a research note on Tuesday, July 15th. Raymond James Financial increased their price objective on ConocoPhillips from $109.00 to $117.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 22nd. Roth Capital reissued a “buy” rating and issued a $108.00 price objective on shares of ConocoPhillips in a research note on Thursday. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $117.00 price objective (up previously from $113.00) on shares of ConocoPhillips in a research note on Thursday, June 26th. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $120.63.

ConocoPhillips Stock Performance

Shares of COP opened at $93.91 on Monday. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $116.08. The stock has a fifty day moving average price of $92.77 and a 200-day moving average price of $93.59. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The firm has a market cap of $118.72 billion, a PE ratio of 12.61, a P/E/G ratio of 2.44 and a beta of 0.67.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%. The firm had revenue of $14.94 billion during the quarter, compared to analyst estimates of $14.39 billion. During the same quarter in the prior year, the business posted $1.98 EPS. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. Equities research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Monday, August 18th. ConocoPhillips’s dividend payout ratio is currently 41.88%.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, EVP Kirk L. Johnson acquired 5,300 shares of the firm’s stock in a transaction dated Monday, June 16th. The stock was purchased at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the acquisition, the executive vice president owned 14,527 shares in the company, valued at approximately $1,369,024.48. This trade represents a 57.44% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.24% of the company’s stock.

ConocoPhillips Company 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.