Strategic Wealth Partners Ltd. Makes New Investment in ConocoPhillips (NYSE:COP)

Strategic Wealth Partners Ltd. bought a new position in ConocoPhillips (NYSE:COP) in the 1st quarter, Holdings Channel.com reports. The institutional investor bought 1,744 shares of the energy producer’s stock, valued at approximately $222,000.

Several other large investors have also bought and sold shares of the company. Wahed Invest LLC raised its holdings in shares of ConocoPhillips by 14.1% during the first quarter. Wahed Invest LLC now owns 23,347 shares of the energy producer’s stock valued at $2,972,000 after purchasing an additional 2,881 shares during the last quarter. Heartland Bank & Trust Co increased its holdings in ConocoPhillips by 13.6% during the first quarter. Heartland Bank & Trust Co now owns 3,646 shares of the energy producer’s stock valued at $464,000 after buying an additional 437 shares during the last quarter. Montchanin Asset Management LLC purchased a new stake in ConocoPhillips during the first quarter valued at approximately $1,027,000. New Covenant Trust Company N.A. purchased a new stake in ConocoPhillips during the first quarter valued at approximately $304,000. Finally, Plato Investment Management Ltd increased its holdings in ConocoPhillips by 1,160.0% during the first quarter. Plato Investment Management Ltd now owns 11,340 shares of the energy producer’s stock valued at $1,443,000 after buying an additional 10,440 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Trading Down 2.4 %

Shares of COP opened at $105.74 on Friday. ConocoPhillips has a twelve month low of $103.98 and a twelve month high of $135.18. The company has a market cap of $123.66 billion, a P/E ratio of 11.97, a P/E/G ratio of 2.14 and a beta of 1.24. The company has a current ratio of 1.33, a quick ratio of 1.21 and a debt-to-equity ratio of 0.34. The company’s fifty day simple moving average is $112.75 and its 200-day simple moving average is $117.04.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, missing the consensus estimate of $2.06 by ($0.08). The company had revenue of $14.14 billion during the quarter, compared to analysts’ expectations of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The company’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.84 EPS. As a group, analysts expect that ConocoPhillips will post 8.73 EPS for the current year.

ConocoPhillips Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, August 12th will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Monday, August 12th. ConocoPhillips’s dividend payout ratio is presently 26.27%.

Analyst Upgrades and Downgrades

COP has been the subject of a number of research reports. Royal Bank of Canada upped their target price on shares of ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, May 15th. Wolfe Research assumed coverage on shares of ConocoPhillips in a research report on Thursday, July 18th. They issued an “outperform” rating and a $145.00 price target for the company. Bank of America reiterated a “buy” rating and issued a $147.00 price target on shares of ConocoPhillips in a research report on Friday, June 14th. Mizuho dropped their target price on shares of ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating for the company in a research report on Wednesday, June 5th. Finally, Truist Financial dropped their target price on shares of ConocoPhillips from $147.00 to $145.00 and set a “buy” rating for the company in a research report on Friday. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.06.

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.