PCM Encore LLC acquired a new stake in shares of ConocoPhillips (NYSE:COP - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 11,755 shares of the energy producer's stock, valued at approximately $1,222,000.
A number of other institutional investors have also recently added to or reduced their stakes in COP. Frazier Financial Advisors LLC lifted its stake in ConocoPhillips by 151.0% in the first quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer's stock valued at $32,000 after buying an additional 145 shares during the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in shares of ConocoPhillips during the fourth quarter worth about $25,000. Ballast Advisors LLC bought a new position in shares of ConocoPhillips during the first quarter worth about $36,000. Evergreen Advisors LLC bought a new stake in ConocoPhillips in the 1st quarter valued at about $36,000. Finally, Allied Private Wealth LLC bought a new stake in ConocoPhillips during the 2nd quarter valued at $32,000. 82.36% of the stock is currently owned by institutional investors.
More ConocoPhillips News
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 Analyst Weigh In
COP has been the subject of several recent analyst reports. Truist Financial increased their price target on ConocoPhillips from $115.00 to $130.00 and gave the stock a "hold" rating in a research note on Monday, August 10th. Argus lifted their price objective on shares of ConocoPhillips from $136.00 to $153.00 and gave the company a "buy" rating in a research note on Wednesday. Capital One Financial reduced their price objective on shares of ConocoPhillips from $156.00 to $154.00 and set an "equal weight" rating for the company in a report on Monday, May 18th. Wells Fargo & Company increased their target price on shares of ConocoPhillips from $183.00 to $189.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. Finally, Susquehanna raised their target price on shares of ConocoPhillips from $155.00 to $161.00 and gave the company a "positive" rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $139.21.
Read Our Latest Research Report on COP
ConocoPhillips Stock Up 3.4%
COP opened at $135.00 on Friday. ConocoPhillips has a one year low of $85.57 and a one year high of $135.87. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.39 and a current ratio of 1.54. The stock's fifty day moving average is $114.92 and its 200-day moving average is $117.53. The company has a market capitalization of $162.18 billion, a PE ratio of 17.86, a P/E/G ratio of 1.44 and a beta of 0.11.
ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, beating the consensus estimate of $2.90 by $0.34. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.The business had revenue of $19.52 billion during the quarter, compared to analyst estimates of $18.79 billion. During the same quarter in the prior year, the firm posted $1.42 earnings per share. The company's revenue was up 32.4% on a year-over-year basis. On average, equities analysts predict 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. Shareholders of record on Monday, August 17th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Monday, August 17th. ConocoPhillips's dividend payout ratio is presently 44.44%.
ConocoPhillips Company Profile
(
Free Report)
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider ConocoPhillips, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and ConocoPhillips wasn't on the list.
While ConocoPhillips currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Tesla, Nvidia, and Google helped shape the last era of market growth, but the next wave could come from a new group of companies. Inside this report, you’ll find 7 stocks that could play a major role in the next tech-driven market boom.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
