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Cheviot Value Management LLC Increases Stock Holdings in ConocoPhillips (NYSE:COP)

ConocoPhillips logo with Energy background

Key Points

  • Cheviot Value Management LLC increased its holdings in ConocoPhillips (NYSE:COP) by 6.5% during the first quarter, bringing its total shares to 102,205, valued at approximately $10.73 million.
  • Brokerage firms have raised their price targets for ConocoPhillips, with Raymond James increasing its target from $109 to $117 and maintaining an "outperform" rating.
  • The company's recent earnings report showed a profit of $2.09 per share, slightly above analyst estimates, and a revenue of $16.18 billion for the quarter.
  • Five stocks we like better than ConocoPhillips.

Cheviot Value Management LLC grew its position in ConocoPhillips (NYSE:COP - Free Report) by 6.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 102,205 shares of the energy producer's stock after buying an additional 6,226 shares during the quarter. ConocoPhillips accounts for approximately 1.3% of Cheviot Value Management LLC's holdings, making the stock its 24th biggest holding. Cheviot Value Management LLC's holdings in ConocoPhillips were worth $10,734,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in COP. 10Elms LLP purchased a new position in shares of ConocoPhillips in the fourth quarter valued at $28,000. Garde Capital Inc. purchased a new position in shares of ConocoPhillips in the first quarter valued at $35,000. IMA Advisory Services Inc. purchased a new position in shares of ConocoPhillips in the first quarter valued at $37,000. Fourth Dimension Wealth LLC purchased a new position in shares of ConocoPhillips in the fourth quarter valued at $39,000. Finally, MorganRosel Wealth Management LLC purchased a new position in shares of ConocoPhillips in the first quarter valued at $42,000. Hedge funds and other institutional investors own 82.36% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on COP. Raymond James Financial raised their price target on ConocoPhillips from $109.00 to $117.00 and gave the company an "outperform" rating in a research report on Tuesday, July 22nd. Morgan Stanley reaffirmed an "overweight" rating and set a $119.00 price objective on shares of ConocoPhillips in a research note on Tuesday, July 15th. Piper Sandler reaffirmed an "overweight" rating and set a $123.00 price objective (up previously from $113.00) on shares of ConocoPhillips in a research note on Tuesday, July 15th. Scotiabank increased their price objective on ConocoPhillips from $95.00 to $100.00 and gave the company a "sector perform" rating in a research note on Friday, July 11th. Finally, Citigroup decreased their price objective on ConocoPhillips from $140.00 to $115.00 and set a "buy" rating on the stock in a research note on Wednesday, June 11th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $121.33.

Check Out Our Latest Analysis on ConocoPhillips

ConocoPhillips Stock Performance

NYSE COP opened at $92.75 on Friday. The business's 50-day moving average price is $91.97 and its 200 day moving average price is $94.07. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $116.08. The company has a market capitalization of $117.25 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 2.41 and a beta of 0.67. The company has a current ratio of 1.27, a quick ratio of 1.13 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP - Get Free Report) last released its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.04. The firm had revenue of $16.18 billion for the quarter, compared to the consensus estimate of $15.74 billion. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. During the same period in the prior year, the business posted $2.05 earnings per share. On average, research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Monday, May 19th. ConocoPhillips's dividend payout ratio (DPR) is 39.64%.

Insider Activity at ConocoPhillips

In other news, EVP Kirk L. Johnson acquired 5,300 shares of the business's stock in a transaction dated Monday, June 16th. The shares were bought at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the acquisition, the executive vice president directly owned 14,527 shares in the company, valued at $1,369,024.48. This trade represents a 57.44% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.24% of the stock is currently owned by company insiders.

ConocoPhillips Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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