Nwam LLC Makes New $483,000 Investment in ConocoPhillips (NYSE:COP)

Nwam LLC purchased a new stake in shares of ConocoPhillips (NYSE:COP) during the 3rd quarter, HoldingsChannel.com reports. The firm purchased 4,587 shares of the energy producer’s stock, valued at approximately $483,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of COP. Values First Advisors Inc. purchased a new stake in ConocoPhillips in the 3rd quarter worth approximately $26,000. Stephens Consulting LLC increased its holdings in shares of ConocoPhillips by 69.3% in the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after purchasing an additional 104 shares during the period. Reston Wealth Management LLC purchased a new stake in shares of ConocoPhillips in the third quarter worth $31,000. Y.D. More Investments Ltd bought a new stake in ConocoPhillips during the second quarter valued at $35,000. Finally, Fairway Wealth LLC grew its position in ConocoPhillips by 95.6% during the second quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock worth $36,000 after buying an additional 153 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Down 0.1 %

NYSE COP opened at $111.75 on Monday. The business’s 50-day moving average is $108.91 and its 200 day moving average is $111.23. The stock has a market capitalization of $128.61 billion, a PE ratio of 13.29, a PEG ratio of 0.91 and a beta of 1.21. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. The company had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The firm’s revenue was down 8.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.16 earnings per share. Sell-side analysts forecast that ConocoPhillips will post 7.8 earnings per share for the current year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.12 annualized dividend and a dividend yield of 2.79%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is currently 37.10%.

Analyst Ratings Changes

Several research firms have recently weighed in on COP. BMO Capital Markets raised their price objective on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Truist Financial dropped their price target on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Scotiabank reduced their price objective on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Mizuho boosted their target price on ConocoPhillips from $129.00 to $132.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, Wells Fargo & Company reiterated a “sector perform” rating on shares of ConocoPhillips in a research report on Friday, October 18th. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and an average price target of $137.63.

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.