Johnson Financial Group Inc. Acquires New Shares in ConocoPhillips $COP

Johnson Financial Group Inc. acquired a new position in ConocoPhillips (NYSE:COP) in the 2nd quarter, Holdings Channel reports. The firm acquired 7,871 shares of the energy producer’s stock, valued at approximately $818,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Frazier Financial Advisors LLC grew its holdings in shares of ConocoPhillips by 151.0% during 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 period. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in ConocoPhillips in the 4th quarter valued at about $25,000. Ballast Advisors LLC acquired a new position in ConocoPhillips in the first quarter valued at about $36,000. Evergreen Advisors LLC acquired a new position in ConocoPhillips in the first quarter valued at about $36,000. Finally, Allied Private Wealth LLC purchased a new position in ConocoPhillips during the second quarter worth about $32,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

COP has been the topic of a number of research analyst reports. Zacks Research downgraded shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 27th. Truist Financial increased their price objective on shares of ConocoPhillips from $115.00 to $130.00 and gave the stock a “hold” rating in a research report on Monday, August 10th. Wall Street Zen upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Susquehanna boosted their target price on ConocoPhillips from $155.00 to $161.00 and gave the company a “positive” rating in a research report on Tuesday, August 11th. Finally, Barclays decreased their price target on ConocoPhillips from $155.00 to $150.00 and set an “overweight” rating on the stock in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $139.21.

ConocoPhillips Stock Up 0.8%

Shares of COP opened at $130.72 on Thursday. The stock has a market capitalization of $157.04 billion, a PE ratio of 17.29, a P/E/G ratio of 1.43 and a beta of 0.11. ConocoPhillips has a 1 year low of $85.57 and a 1 year high of $135.87. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.39 and a current ratio of 1.54. The company’s 50-day simple moving average is $114.53 and its 200-day simple moving average is $117.32.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, beating the consensus estimate of $2.90 by $0.34. The business had revenue of $19.52 billion during the quarter, compared to analyst estimates of $18.79 billion. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The business’s revenue for the quarter was up 32.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.42 earnings per share. Analysts forecast that ConocoPhillips will post 10.05 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Monday, August 17th. ConocoPhillips’s dividend payout ratio (DPR) is currently 44.44%.

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.