Rokos Capital Management LLP Acquires New Shares in ConocoPhillips $COP

Rokos Capital Management LLP purchased a new stake in shares of ConocoPhillips (NYSE:COP) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 30,800 shares of the energy producer’s stock, valued at approximately $4,065,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Frazier Financial Advisors LLC grew its stake in shares of ConocoPhillips by 151.0% in the 1st quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock worth $32,000 after purchasing an additional 145 shares during the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in shares of ConocoPhillips in the fourth quarter valued at $25,000. Evergreen Advisors LLC acquired a new stake in shares of ConocoPhillips during the 1st quarter valued at $36,000. Strive Asset Management LLC bought a new stake in shares of ConocoPhillips during the 3rd quarter worth $28,000. Finally, Avalon Trust Co bought a new stake in shares of ConocoPhillips during the 1st quarter worth $40,000. Institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on COP shares. Piper Sandler boosted their target price on ConocoPhillips from $154.00 to $157.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 8th. Truist Financial decreased their price target on ConocoPhillips from $128.00 to $115.00 and set a “hold” rating for the company in a research report on Wednesday, July 8th. Scotiabank lifted their price target on ConocoPhillips from $100.00 to $125.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. BMO Capital Markets cut their price objective on ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Finally, Roth Capital raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and upped their price objective for the company from $124.00 to $130.00 in a research note on Monday, June 22nd. Eighteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $134.16.

ConocoPhillips Price Performance

COP opened at $115.54 on Tuesday. The stock has a fifty day moving average of $113.32 and a 200-day moving average of $114.46. The firm has a market capitalization of $140.76 billion, a P/E ratio of 19.62, a PEG ratio of 1.45 and a beta of 0.12. ConocoPhillips has a 12-month low of $85.57 and a 12-month high of $135.87. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The firm had revenue of $15.76 billion for the quarter, compared to the consensus estimate of $15.62 billion. During the same period in the previous year, the firm posted $2.09 earnings per share. The firm’s revenue was down 6.1% on a year-over-year basis. Equities analysts forecast that ConocoPhillips will post 9.2 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Monday, May 11th. ConocoPhillips’s payout ratio is currently 57.05%.

About ConocoPhillips

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.