Sittner & Nelson LLC Increases Stake in ConocoPhillips $COP

Sittner & Nelson LLC grew its holdings in ConocoPhillips (NYSE:COP) by 27.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,692 shares of the energy producer’s stock after acquiring an additional 789 shares during the period. Sittner & Nelson LLC’s holdings in ConocoPhillips were worth $331,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Edgestream Partners L.P. raised its holdings in ConocoPhillips by 418.6% in the 1st quarter. Edgestream Partners L.P. now owns 31,452 shares of the energy producer’s stock worth $3,303,000 after purchasing an additional 25,387 shares during the period. Bridgewater Advisors Inc. purchased a new stake in ConocoPhillips in the first quarter worth about $365,000. Legacy Capital Wealth Partners LLC raised its stake in shares of ConocoPhillips by 91.2% in the first quarter. Legacy Capital Wealth Partners LLC now owns 4,217 shares of the energy producer’s stock worth $443,000 after buying an additional 2,011 shares during the period. Dynasty Wealth Management LLC lifted its holdings in ConocoPhillips by 12.4% during the first quarter. Dynasty Wealth Management LLC now owns 15,922 shares of the energy producer’s stock valued at $1,672,000 after purchasing an additional 1,758 shares in the last quarter. Finally, Woodward Diversified Capital LLC increased its stake in shares of ConocoPhillips by 18.9% in the first quarter. Woodward Diversified Capital LLC now owns 7,138 shares of the energy producer’s stock worth $750,000 after purchasing an additional 1,135 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Up 0.3%

NYSE COP opened at $89.38 on Friday. The stock has a market cap of $110.45 billion, a PE ratio of 12.00, a PEG ratio of 2.36 and a beta of 0.58. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $115.38. The company’s 50-day moving average price is $90.96 and its 200-day moving average price is $91.94. 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 released its quarterly earnings data on Thursday, November 6th. The energy producer reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.20. The company had revenue of $15.03 billion during the quarter, compared to analysts’ expectations of $14.51 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.78 EPS. Equities research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 3.8%. The ex-dividend date is Monday, November 17th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.78. ConocoPhillips’s dividend payout ratio (DPR) is 47.52%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Piper Sandler decreased their price objective on shares of ConocoPhillips from $124.00 to $115.00 and set an “overweight” rating on the stock in a research report on Monday, October 13th. Barclays decreased their price target on ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating on the stock in a report on Tuesday, October 7th. Evercore ISI dropped their price objective on ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating for the company in a research note on Monday, October 6th. Melius started coverage on ConocoPhillips in a research note on Wednesday, August 20th. They set a “hold” rating and a $117.00 target price on the stock. Finally, Raymond James Financial dropped their price target on ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating for the company in a research note on Monday, September 8th. Eighteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $115.33.

Insiders Place Their Bets

In other news, Director William H. Mcraven bought 5,768 shares of the stock in a transaction on Monday, November 10th. The stock was acquired at an average cost of $86.68 per share, for a total transaction of $499,970.24. Following the acquisition, the director owned 5,768 shares of the company’s stock, valued at $499,970.24. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.24% of the stock is currently owned by company insiders.

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.