ConocoPhillips $COP Position Increased by Austin Private Wealth LLC

Austin Private Wealth LLC raised its position in shares of ConocoPhillips (NYSE:COP) by 7.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,760 shares of the energy producer’s stock after buying an additional 688 shares during the quarter. Austin Private Wealth LLC’s holdings in ConocoPhillips were worth $876,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Valley National Advisers Inc. lifted its position in shares of ConocoPhillips by 58.6% in the first quarter. Valley National Advisers Inc. now owns 1,941 shares of the energy producer’s stock worth $202,000 after purchasing an additional 717 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new stake in shares of ConocoPhillips in the first quarter worth approximately $42,000. Koshinski Asset Management Inc. lifted its position in shares of ConocoPhillips by 4.1% in the first quarter. Koshinski Asset Management Inc. now owns 20,661 shares of the energy producer’s stock worth $2,170,000 after purchasing an additional 806 shares in the last quarter. Smith Salley Wealth Management lifted its position in shares of ConocoPhillips by 15.6% in the first quarter. Smith Salley Wealth Management now owns 7,133 shares of the energy producer’s stock worth $749,000 after purchasing an additional 960 shares in the last quarter. Finally, Smallwood Wealth Investment Management LLC purchased a new stake in shares of ConocoPhillips in the first quarter worth approximately $45,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Trading Down 2.1%

Shares of COP stock opened at $86.86 on Wednesday. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $115.38. 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 business’s 50 day moving average is $93.08 and its two-hundred day moving average is $91.99. The company has a market cap of $108.49 billion, a PE ratio of 11.66, a price-to-earnings-growth ratio of 2.37 and a beta of 0.62.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results 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 company had revenue of $14.94 billion for the quarter, compared to the consensus estimate of $14.39 billion. During the same quarter last year, the company posted $1.98 earnings per share. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. Equities analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on COP shares. Piper Sandler reduced their price target 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. Evercore ISI cut their price objective on shares of ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating on the stock in a research report on Monday, October 6th. Scotiabank raised their price objective on shares of ConocoPhillips from $95.00 to $100.00 and gave the company a “sector perform” rating in a research report on Friday, July 11th. Wolfe Research cut their price objective on shares of ConocoPhillips from $137.00 to $130.00 and set an “outperform” rating on the stock in a research report on Monday, October 20th. Finally, JPMorgan Chase & Co. raised their price objective on shares of ConocoPhillips from $114.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, October 9th. Eighteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and an average price target of $115.63.

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.