Persium Advisors LLC Boosts Stock Position in ConocoPhillips $COP

Persium Advisors LLC raised its stake in shares of ConocoPhillips (NYSE:COP) by 6.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,487 shares of the energy producer’s stock after acquiring an additional 675 shares during the period. ConocoPhillips comprises approximately 0.9% of Persium Advisors LLC’s investment portfolio, making the stock its 8th largest holding. Persium Advisors LLC’s holdings in ConocoPhillips were worth $1,031,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in COP. Elevation Point Wealth Partners LLC boosted its position in ConocoPhillips by 83.0% in the first quarter. Elevation Point Wealth Partners LLC now owns 18,060 shares of the energy producer’s stock worth $1,897,000 after purchasing an additional 8,189 shares during the last quarter. Schwartz Investment Counsel Inc. boosted its holdings in shares of ConocoPhillips by 159.6% in the 1st quarter. Schwartz Investment Counsel Inc. now owns 48,800 shares of the energy producer’s stock worth $5,125,000 after buying an additional 30,000 shares during the last quarter. Aberdeen Group plc grew its position in ConocoPhillips by 49.3% during the first quarter. Aberdeen Group plc now owns 801,426 shares of the energy producer’s stock valued at $83,969,000 after buying an additional 264,726 shares during the period. ORG Wealth Partners LLC increased its holdings in ConocoPhillips by 853.3% during the first quarter. ORG Wealth Partners LLC now owns 6,616 shares of the energy producer’s stock worth $698,000 after buying an additional 5,922 shares during the last quarter. Finally, Hennessy Advisors Inc. raised its position in ConocoPhillips by 151.1% in the first quarter. Hennessy Advisors Inc. now owns 91,224 shares of the energy producer’s stock worth $9,580,000 after acquiring an additional 54,900 shares during the period. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of NYSE:COP opened at $92.60 on Monday. The firm has a market capitalization of $115.65 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 2.43 and a beta of 0.69. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. ConocoPhillips has a one year low of $79.88 and a one year high of $116.08. The company’s fifty day moving average price is $94.75 and its 200-day moving average price is $92.92.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.06. The firm had revenue of $14.94 billion during the quarter, compared to analyst estimates of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The company’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.98 earnings per share. On average, equities research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Monday, August 18th. ConocoPhillips’s dividend payout ratio (DPR) is presently 41.88%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on COP shares. Melius Research initiated coverage on ConocoPhillips in a research report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 target price for the company. Melius assumed coverage on ConocoPhillips in a report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 price objective for the company. Raymond James Financial dropped their price objective on shares of ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating on the stock in a report on Monday, September 8th. Piper Sandler lifted their target price on shares of ConocoPhillips from $123.00 to $124.00 and gave the stock an “overweight” rating in a research note on Monday, August 18th. Finally, UBS Group boosted their price target on shares of ConocoPhillips from $116.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Sixteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and an average price target of $120.86.

About ConocoPhillips

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.