ConocoPhillips $COP Shares Acquired by Prudent Man Advisors LLC

Prudent Man Advisors LLC lifted its position in shares of ConocoPhillips (NYSE:COP) by 30.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,205 shares of the energy producer’s stock after purchasing an additional 1,906 shares during the period. Prudent Man Advisors LLC’s holdings in ConocoPhillips were worth $736,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC increased its position in ConocoPhillips by 48.5% in the 2nd quarter. Brighton Jones LLC now owns 19,562 shares of the energy producer’s stock valued at $1,755,000 after acquiring an additional 6,386 shares during the period. Linden Thomas Advisory Services LLC increased its position in ConocoPhillips by 3.3% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 13,820 shares of the energy producer’s stock valued at $1,240,000 after acquiring an additional 436 shares during the period. Peterson Wealth Services increased its position in ConocoPhillips by 2.1% in the 2nd quarter. Peterson Wealth Services now owns 61,457 shares of the energy producer’s stock valued at $5,515,000 after acquiring an additional 1,268 shares during the period. CNB Bank increased its position in ConocoPhillips by 2.5% in the 2nd quarter. CNB Bank now owns 9,813 shares of the energy producer’s stock valued at $881,000 after acquiring an additional 236 shares during the period. Finally, PKO Investment Management Joint Stock Co increased its position in ConocoPhillips by 8.6% in the 2nd quarter. PKO Investment Management Joint Stock Co now owns 37,819 shares of the energy producer’s stock valued at $3,394,000 after acquiring an additional 3,000 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

COP has been the topic of several recent research reports. Jefferies Financial Group dropped their price target on ConocoPhillips from $129.00 to $120.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. The Goldman Sachs Group dropped their price target on ConocoPhillips from $111.00 to $108.00 and set a “buy” rating on the stock in a research report on Friday, October 17th. Evercore ISI dropped their price target on ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating on the stock in a research report on Monday, October 6th. Scotiabank boosted their price target on ConocoPhillips from $95.00 to $100.00 and gave the company a “sector perform” rating in a research report on Friday, July 11th. Finally, Piper Sandler dropped their price target on ConocoPhillips from $124.00 to $115.00 and set an “overweight” rating on the stock in a research report on Monday, October 13th. Eighteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.63.

ConocoPhillips Price Performance

Shares of COP opened at $88.01 on Friday. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $115.38. The stock’s 50 day moving average is $93.32 and its two-hundred day moving average is $91.98. The firm has a market capitalization of $109.92 billion, a PE ratio of 11.81, a P/E/G ratio of 2.35 and a beta of 0.62. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35.

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

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips’s 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.