ConocoPhillips $COP Shares Purchased by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp increased its holdings in shares of ConocoPhillips (NYSE:COP) by 82.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 97,212 shares of the energy producer’s stock after purchasing an additional 44,003 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in ConocoPhillips were worth $8,724,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of COP. Bogart Wealth LLC grew its position in ConocoPhillips by 136.8% in the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock valued at $28,000 after acquiring an additional 182 shares in the last quarter. Activest Wealth Management grew its position in ConocoPhillips by 249.5% in the 2nd quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 232 shares in the last quarter. Financial Network Wealth Advisors LLC grew its position in 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 acquiring an additional 222 shares in the last quarter. Stone House Investment Management LLC acquired a new position in ConocoPhillips in the 1st quarter valued at about $31,000. Finally, IMA Advisory Services Inc. acquired a new position in ConocoPhillips in the 1st quarter valued at about $37,000. 82.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

COP has been the subject of several research reports. Evercore ISI dropped their target price on ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating for the company in a research report on Monday, October 6th. Jefferies Financial Group dropped their target price on ConocoPhillips from $129.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Wall Street Zen downgraded ConocoPhillips from a “hold” rating to a “sell” rating in a research report on Saturday, October 18th. Weiss Ratings downgraded ConocoPhillips from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 24th. Finally, Melius Research started coverage on ConocoPhillips in a research report on Wednesday, August 20th. They set a “hold” rating and a $117.00 price objective for the company. Eighteen 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $114.63.

ConocoPhillips Price Performance

COP stock opened at $87.79 on Thursday. The business has a 50 day moving average price of $92.08 and a 200 day moving average price of $92.03. The stock has a market cap of $109.65 billion, a price-to-earnings ratio of 11.78, a PEG ratio of 2.36 and a beta of 0.62. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week 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.

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

ConocoPhillips Company 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.