Cookson Peirce & Co. Inc. Purchases 1,848 Shares of ConocoPhillips $COP

Cookson Peirce & Co. Inc. lifted its stake in shares of ConocoPhillips (NYSE:COP) by 27.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,631 shares of the energy producer’s stock after purchasing an additional 1,848 shares during the period. Cookson Peirce & Co. Inc.’s holdings in ConocoPhillips were worth $775,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Tritonpoint Wealth LLC raised its stake in shares of ConocoPhillips by 1.3% during the 2nd quarter. Tritonpoint Wealth LLC now owns 8,329 shares of the energy producer’s stock worth $747,000 after purchasing an additional 110 shares in the last quarter. Iowa State Bank raised its stake in shares of ConocoPhillips by 0.5% during the 2nd quarter. Iowa State Bank now owns 22,193 shares of the energy producer’s stock worth $1,992,000 after purchasing an additional 110 shares in the last quarter. First National Bank Sioux Falls raised its stake in shares of ConocoPhillips by 4.6% during the 2nd quarter. First National Bank Sioux Falls now owns 2,572 shares of the energy producer’s stock worth $231,000 after purchasing an additional 113 shares in the last quarter. KLCM Advisors Inc. raised its stake in shares of ConocoPhillips by 2.6% during the 1st quarter. KLCM Advisors Inc. now owns 4,503 shares of the energy producer’s stock worth $473,000 after purchasing an additional 115 shares in the last quarter. Finally, Fairvoy Private Wealth LLC raised its stake in shares of ConocoPhillips by 3.5% during the 2nd quarter. Fairvoy Private Wealth LLC now owns 3,500 shares of the energy producer’s stock worth $314,000 after purchasing an additional 117 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Up 1.2%

COP opened at $87.45 on Thursday. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $115.38. The stock’s fifty day simple moving average is $93.58 and its 200 day simple moving average is $91.85. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The stock has a market cap of $109.22 billion, a PE ratio of 11.74, a price-to-earnings-growth ratio of 2.28 and a beta of 0.62.

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

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips’s dividend payout ratio is currently 41.88%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Jefferies Financial Group dropped their price objective on ConocoPhillips from $129.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Wall Street Zen cut ConocoPhillips from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. Barclays dropped their price objective on ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 7th. Piper Sandler dropped their price target on ConocoPhillips from $124.00 to $115.00 and set an “overweight” rating on the stock in a research note on Monday, October 13th. Finally, BMO Capital Markets increased their price target on ConocoPhillips from $115.00 to $117.00 and gave the company an “outperform” rating in a research note on Monday, October 13th. Eighteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.63.

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.