Mystic Asset Management Inc. Buys Shares of 9,042 ConocoPhillips $COP

Mystic Asset Management Inc. purchased a new position in shares of ConocoPhillips (NYSE:COP) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 9,042 shares of the energy producer’s stock, valued at approximately $940,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Frazier Financial Advisors LLC lifted its stake in shares of ConocoPhillips by 151.0% during the 1st quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock worth $32,000 after purchasing an additional 145 shares during the period. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in shares of ConocoPhillips during the 4th quarter worth about $25,000. Ballast Advisors LLC purchased a new stake in ConocoPhillips during the first quarter worth approximately $36,000. Evergreen Advisors LLC acquired a new stake in shares of ConocoPhillips in the first quarter worth $36,000. Finally, Allied Private Wealth LLC purchased a new position in shares of ConocoPhillips in the 2nd quarter valued at $32,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $135.00 on Friday. ConocoPhillips has a 12-month low of $85.57 and a 12-month high of $135.87. The company has a market capitalization of $162.18 billion, a price-to-earnings ratio of 17.86, a price-to-earnings-growth ratio of 1.44 and a beta of 0.11. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.39. The firm’s fifty day moving average price is $114.92 and its 200 day moving average price is $117.53.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.90 by $0.34. The company had revenue of $19.52 billion during the quarter, compared to analysts’ expectations of $18.79 billion. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The firm’s revenue for the quarter was up 32.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.42 EPS. On average, research analysts forecast that ConocoPhillips will post 10.06 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 17th will be paid a $0.84 dividend. The ex-dividend date is Monday, August 17th. This represents a $3.36 annualized dividend and a dividend yield of 2.5%. ConocoPhillips’s payout ratio is 44.44%.

Key Headlines Impacting ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Rising crude prices are supporting ConocoPhillips’ expected cash flow and earnings, providing the clearest near-term catalyst for the stock. ConocoPhillips gains as higher oil prices add to post-earnings momentum
• Positive Sentiment: Second-quarter adjusted earnings of $3.24 per share exceeded expectations, while $7.2 billion in operating cash flow, doubled share repurchases and a $0.84 quarterly dividend reinforced the company’s capital-return appeal. Full-year guidance was reaffirmed.
• Positive Sentiment: Argus raised its price target to $153 from $136 and maintained a Buy rating. The broader analyst consensus remains constructive, with a reported median target of $146 and no recent sell ratings. Argus raises ConocoPhillips price target
• Positive Sentiment: Analysts and investors continue to cite ConocoPhillips’ low-cost inventory, LNG-related growth and potential cash-flow catalysts as support for its longer-term outlook. ConocoPhillips has low-cost inventory and a major cash flow catalyst ahead
• Neutral Sentiment: Aker BP’s agreement to acquire Apache and ConocoPhillips stakes offshore Norway could streamline the portfolio, although the immediate financial effect was not specified. Aker BP to buy Apache and ConocoPhillips stakes offshore Norway
• Negative Sentiment: Valuation and execution risks are tempering the bullish outlook: the stock trades near its 52-week high, while investors are already paying a premium for earnings momentum and LNG growth. Is ConocoPhillips stock a buy as growth meets a premium valuation?
• Negative Sentiment: Insiders have reported 12 open-market sales and no purchases over the past six months, including substantial sales by senior executives. This may signal caution, although insider transactions can reflect compensation or diversification rather than a fundamental view.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on COP shares. Wells Fargo & Company upped their price target on shares of ConocoPhillips from $183.00 to $189.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Royal Bank Of Canada set a $130.00 price objective on ConocoPhillips in a research note on Monday, June 22nd. Susquehanna upped their target price on ConocoPhillips from $155.00 to $161.00 and gave the stock a “positive” rating in a research report on Tuesday, August 11th. Barclays lowered their target price on ConocoPhillips from $155.00 to $150.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Argus raised their target price on ConocoPhillips from $136.00 to $153.00 and gave the company a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $139.21.

ConocoPhillips Company Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.