OneAscent Financial Services LLC Makes New Investment in ConocoPhillips $COP

OneAscent Financial Services LLC bought a new stake in ConocoPhillips (NYSE:COP) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,065 shares of the energy producer’s stock, valued at approximately $630,000.

A number of other institutional investors have also added to or reduced their stakes in COP. AXA S.A. increased its position in shares of ConocoPhillips by 91.1% during the second quarter. AXA S.A. now owns 84,937 shares of the energy producer’s stock valued at $7,622,000 after buying an additional 40,499 shares during the period. Sei Investments Co. boosted its position in shares of ConocoPhillips by 6.1% in the second quarter. Sei Investments Co. now owns 784,368 shares of the energy producer’s stock valued at $70,397,000 after acquiring an additional 44,852 shares during the period. BNP Paribas bought a new position in shares of ConocoPhillips in the second quarter valued at approximately $33,000. Osterweis Capital Management Inc. purchased a new position in ConocoPhillips during the second quarter valued at approximately $151,000. Finally, Main Street Financial Solutions LLC grew its stake in ConocoPhillips by 53.5% during the second quarter. Main Street Financial Solutions LLC now owns 4,806 shares of the energy producer’s stock valued at $431,000 after acquiring an additional 1,675 shares in the last quarter. 82.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on COP. Argus raised their price target on ConocoPhillips from $136.00 to $153.00 and gave the company a “buy” rating in a report on Wednesday. Raymond James Financial cut their price objective on ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating for the company in a report on Monday, June 1st. Capital One Financial decreased their price objective on shares of ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating on the stock in a research report on Monday, May 18th. BMO Capital Markets lowered their target price on shares of ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. Finally, Zacks Research lowered shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $139.21.

Trending Headlines about 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.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock opened at $135.00 on Friday. The firm has a market capitalization of $162.18 billion, a PE ratio of 17.86, a price-to-earnings-growth ratio of 1.44 and a beta of 0.11. The company has a current ratio of 1.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 12 month low of $85.57 and a 12 month high of $135.87. The business’s 50-day moving average price is $114.92 and its 200-day moving average price is $117.53.

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

ConocoPhillips Announces Dividend

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

About ConocoPhillips

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.