Cypress Capital LLC Buys 692 Shares of ConocoPhillips $COP

Cypress Capital LLC grew its stake in ConocoPhillips (NYSE:COP) by 34.9% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,674 shares of the energy producer’s stock after purchasing an additional 692 shares during the quarter. Cypress Capital LLC’s holdings in ConocoPhillips were worth $240,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Illinois Municipal Retirement Fund lifted its stake in ConocoPhillips by 10.1% during the 2nd quarter. Illinois Municipal Retirement Fund now owns 232,054 shares of the energy producer’s stock valued at $20,825,000 after acquiring an additional 21,269 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of ConocoPhillips by 6.7% in the second quarter. ProShare Advisors LLC now owns 279,064 shares of the energy producer’s stock valued at $25,043,000 after purchasing an additional 17,486 shares during the last quarter. PFG Advisors lifted its position in shares of ConocoPhillips by 14.9% during the second quarter. PFG Advisors now owns 7,360 shares of the energy producer’s stock valued at $660,000 after purchasing an additional 956 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC boosted its holdings in ConocoPhillips by 11.5% during the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,030 shares of the energy producer’s stock worth $362,000 after purchasing an additional 417 shares during the last quarter. Finally, Midwest Trust Co purchased a new position in ConocoPhillips during the second quarter worth about $36,953,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

COP has been the topic of several recent analyst reports. Piper Sandler dropped their target price 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. Susquehanna reduced their target price on ConocoPhillips to $113.00 and set a “positive” rating for the company in a report on Monday, October 20th. The Goldman Sachs Group dropped their price target on ConocoPhillips from $111.00 to $108.00 and set a “buy” rating on the stock in a report on Friday, October 17th. Wolfe Research reissued an “outperform” rating and issued a $131.00 price objective on shares of ConocoPhillips in a research report on Thursday. Finally, Raymond James Financial decreased their target price on ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating for the company in a research report on Monday, September 8th. Eighteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average price target of $114.54.

ConocoPhillips Stock Up 1.3%

COP stock opened at $86.82 on Monday. The stock has a fifty day moving average of $91.58 and a 200-day moving average of $92.01. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $115.38. The company has a market capitalization of $108.43 billion, a price-to-earnings ratio of 11.65, a PEG ratio of 2.36 and a beta of 0.58. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, November 6th. The energy producer reported $1.61 EPS for the quarter, beating the consensus estimate of $1.41 by $0.20. The business had revenue of $15.03 billion for the quarter, compared to the consensus estimate of $14.51 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The company’s revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.78 earnings per share. As a group, equities research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be issued a $0.84 dividend. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Monday, November 17th. This represents a $3.36 annualized dividend and a yield of 3.9%. ConocoPhillips’s payout ratio is 47.52%.

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.