ConocoPhillips $COP Shares Acquired by Patriot Financial Group Insurance Agency LLC

Patriot Financial Group Insurance Agency LLC lifted its stake in shares of ConocoPhillips (NYSE:COP) by 16.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 24,864 shares of the energy producer’s stock after purchasing an additional 3,580 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in ConocoPhillips were worth $2,231,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Financial Network Wealth Advisors LLC grew its stake in shares of ConocoPhillips by 341.5% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock worth $30,000 after purchasing an additional 222 shares during the period. Stone House Investment Management LLC acquired a new stake in ConocoPhillips in the 1st quarter valued at about $31,000. Garde Capital Inc. acquired a new stake in ConocoPhillips in the 1st quarter valued at about $35,000. IMA Advisory Services Inc. acquired a new stake in ConocoPhillips in the 1st quarter valued at about $37,000. Finally, Clal Insurance Enterprises Holdings Ltd grew its stake in ConocoPhillips by 418.6% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 363 shares of the energy producer’s stock valued at $38,000 after acquiring an additional 293 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on COP shares. Morgan Stanley reissued an “overweight” rating and issued a $123.00 price objective (up from $119.00) on shares of ConocoPhillips in a research note on Sunday, August 10th. BMO Capital Markets increased their price objective on shares of ConocoPhillips from $113.00 to $115.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. Piper Sandler increased their price objective on shares of ConocoPhillips from $123.00 to $124.00 and gave the company an “overweight” rating in a research note on Monday, August 18th. Wall Street Zen raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Saturday, September 20th. Finally, Melius Research began coverage on shares of ConocoPhillips in a research note on Wednesday, August 20th. They issued a “hold” rating and a $117.00 price objective on the stock. Sixteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $120.14.

ConocoPhillips Trading Down 2.1%

Shares of COP stock opened at $93.45 on Friday. The firm has a market cap of $116.71 billion, a P/E ratio of 12.54, a PEG ratio of 2.51 and a beta of 0.62. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $116.08. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. The firm’s 50-day simple moving average is $94.94 and its 200-day simple moving average is $92.96.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.06. The business had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The company’s revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.98 EPS. As a group, equities analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Monday, August 18th. ConocoPhillips’s dividend payout ratio is presently 41.88%.

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.