ConocoPhillips $COP Shares Bought by Forvis Mazars Wealth Advisors LLC

Forvis Mazars Wealth Advisors LLC raised its position in ConocoPhillips (NYSE:COP) by 2.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 47,358 shares of the energy producer’s stock after acquiring an additional 1,054 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in ConocoPhillips were worth $4,250,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in COP. Tritonpoint Wealth LLC increased its holdings in shares of ConocoPhillips by 1.3% in the 2nd quarter. Tritonpoint Wealth LLC now owns 8,329 shares of the energy producer’s stock valued at $747,000 after purchasing an additional 110 shares in the last quarter. Iowa State Bank increased its holdings in shares of ConocoPhillips by 0.5% in the 2nd quarter. Iowa State Bank now owns 22,193 shares of the energy producer’s stock valued at $1,992,000 after purchasing an additional 110 shares in the last quarter. First National Bank Sioux Falls increased its holdings in shares of ConocoPhillips by 4.6% in the 2nd quarter. First National Bank Sioux Falls now owns 2,572 shares of the energy producer’s stock valued at $231,000 after purchasing an additional 113 shares in the last quarter. KLCM Advisors Inc. increased its holdings in shares of ConocoPhillips by 2.6% in the 1st quarter. KLCM Advisors Inc. now owns 4,503 shares of the energy producer’s stock valued at $473,000 after purchasing an additional 115 shares in the last quarter. Finally, Fairvoy Private Wealth LLC increased its holdings in shares of ConocoPhillips by 3.5% in the 2nd quarter. Fairvoy Private Wealth LLC now owns 3,500 shares of the energy producer’s stock valued at $314,000 after purchasing an additional 117 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on COP shares. Evercore ISI cut their price target on shares of ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating for the company in a report on Monday, October 6th. Roth Capital cut their price target on shares of ConocoPhillips from $108.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday. Susquehanna cut their price target on shares of ConocoPhillips from $114.00 to $113.00 and set a “positive” rating for the company in a report on Wednesday, July 23rd. Piper Sandler cut their target price on shares of ConocoPhillips from $124.00 to $115.00 and set an “overweight” rating for the company in a research report on Monday, October 13th. Finally, Barclays cut their target price on shares of ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating for the company in a research report on Tuesday, October 7th. Seventeen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $115.00.

ConocoPhillips Stock Performance

Shares of COP opened at $86.53 on Friday. 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 stock has a market cap of $108.07 billion, a P/E ratio of 11.61, a PEG ratio of 2.32 and a beta of 0.62. The company has a 50-day moving average of $94.04 and a two-hundred day moving average of $91.93. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $115.38.

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 company had revenue of $14.94 billion during the quarter, compared to analysts’ expectations of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.98 earnings per share. As a group, research analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were issued a dividend of $0.78 per share. The ex-dividend date was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.6%. ConocoPhillips’s payout ratio is 41.88%.

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.