Brave Asset Management Inc. Has $506,000 Stock Holdings in ConocoPhillips $COP

Brave Asset Management Inc. increased its position in shares of ConocoPhillips (NYSE:COP) by 6.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,633 shares of the energy producer’s stock after acquiring an additional 324 shares during the period. Brave Asset Management Inc.’s holdings in ConocoPhillips were worth $506,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Financial Network Wealth Advisors LLC grew its stake in shares of ConocoPhillips by 341.5% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock valued at $30,000 after buying an additional 222 shares in the last quarter. Stone House Investment Management LLC acquired a new stake in ConocoPhillips in the first quarter valued at approximately $31,000. Garde Capital Inc. bought a new stake in ConocoPhillips in the first quarter worth approximately $35,000. IMA Advisory Services Inc. acquired a new position in shares of ConocoPhillips during the 1st quarter worth $37,000. Finally, Clal Insurance Enterprises Holdings Ltd increased its stake in shares of ConocoPhillips by 418.6% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 363 shares of the energy producer’s stock worth $38,000 after purchasing an additional 293 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Mizuho decreased their price objective on shares of ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Monday, September 15th. Melius began coverage on ConocoPhillips in a research note on Wednesday, August 20th. They set a “hold” rating and a $117.00 price target for the company. Citigroup lowered their price objective on ConocoPhillips from $140.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, June 11th. Piper Sandler boosted their target price on ConocoPhillips from $123.00 to $124.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $117.00 target price (up previously from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. Sixteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $120.14.

ConocoPhillips Stock Up 1.1%

Shares of COP stock opened at $96.72 on Friday. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $116.08. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. The firm has a market cap of $120.80 billion, a PE ratio of 12.98, a price-to-earnings-growth ratio of 2.52 and a beta of 0.69. The stock has a 50 day moving average of $94.72 and a 200-day moving average of $93.03.

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

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.2%. ConocoPhillips’s dividend payout ratio is currently 41.88%.

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.