Volterra Technologies LP Acquires Shares of 22,318 ConocoPhillips $COP

Volterra Technologies LP bought a new position in shares of ConocoPhillips (NYSE:COP) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 22,318 shares of the energy producer’s stock, valued at approximately $2,946,000. ConocoPhillips comprises approximately 0.4% of Volterra Technologies LP’s holdings, making the stock its 13th biggest holding.

Other institutional investors and hedge funds have also bought and sold shares of the company. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of ConocoPhillips during the fourth quarter worth approximately $25,000. Strive Asset Management LLC bought a new position in shares of ConocoPhillips during the third quarter worth approximately $28,000. Frazier Financial Advisors LLC increased its stake in shares of ConocoPhillips by 151.0% during the first 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. BNP Paribas acquired a new stake in ConocoPhillips during the 2nd quarter worth approximately $33,000. Finally, Optima Capital LLC bought a new stake in ConocoPhillips in the 4th quarter valued at $34,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of NYSE:COP opened at $120.30 on Friday. The firm has a 50 day moving average of $113.54 and a 200-day moving average of $114.18. ConocoPhillips has a 12 month low of $85.57 and a 12 month high of $135.87. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $146.56 billion, a PE ratio of 20.42, a PEG ratio of 1.43 and a beta of 0.12.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.17. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The business had revenue of $15.76 billion for the quarter, compared to analyst estimates of $15.62 billion. During the same quarter last year, the business posted $2.09 EPS. The firm’s revenue for the quarter was down 6.1% on a year-over-year basis. On average, equities research analysts predict that ConocoPhillips will post 9.2 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were issued a dividend of $0.84 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.8%. ConocoPhillips’s payout ratio is 57.05%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on COP shares. Citigroup boosted their target price on shares of ConocoPhillips from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Barclays increased their target price on shares of ConocoPhillips from $136.00 to $155.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Truist Financial cut their price target on ConocoPhillips from $128.00 to $115.00 and set a “hold” rating for the company in a research note on Wednesday, July 8th. Argus raised their price objective on ConocoPhillips from $128.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Finally, BMO Capital Markets dropped their price objective on ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Eighteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $134.16.

ConocoPhillips 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.