ConocoPhillips $COP Shares Sold by M. Kraus & Co

M. Kraus & Co lowered its position in shares of ConocoPhillips (NYSE:COP) by 1.6% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 19,536 shares of the energy producer’s stock after selling 312 shares during the quarter. M. Kraus & Co’s holdings in ConocoPhillips were worth $1,753,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Financial Network Wealth Advisors LLC raised its position in shares of ConocoPhillips by 341.5% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock worth $30,000 after purchasing an additional 222 shares during the period. Stone House Investment Management LLC acquired a new stake in shares of ConocoPhillips during the 1st quarter worth approximately $31,000. Garde Capital Inc. acquired a new stake in shares of ConocoPhillips during the 1st quarter worth approximately $35,000. IMA Advisory Services Inc. acquired a new stake in shares of ConocoPhillips during the 1st quarter worth approximately $37,000. Finally, Clal Insurance Enterprises Holdings Ltd raised its position 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 period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of COP stock opened at $91.94 on Friday. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $115.38. The firm has a market capitalization of $114.83 billion, a price-to-earnings ratio of 12.34, a price-to-earnings-growth ratio of 2.49 and a beta of 0.62. The business has a 50 day simple moving average of $94.70 and a 200 day simple moving average of $92.69. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.98 EPS. On average, equities research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips’s dividend payout ratio (DPR) is presently 41.88%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Scotiabank increased their price target on ConocoPhillips from $95.00 to $100.00 and gave the stock a “sector perform” rating in a research report on Friday, July 11th. Morgan Stanley reiterated an “overweight” rating and set a $123.00 price target (up from $119.00) on shares of ConocoPhillips in a research report on Sunday, August 10th. Wells Fargo & Company reiterated an “overweight” rating and set a $117.00 price target (up from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. Piper Sandler increased their price objective on ConocoPhillips from $123.00 to $124.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. Finally, Barclays decreased their price objective on ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating for the company in a report on Tuesday. Sixteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus target price of $117.23.

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.