ConocoPhillips $COP Shares Bought by Praxis Investment Management Inc.

Key Points

• Praxis Investment Management Inc. increased its stake in ConocoPhillips (COP) by 4.9%, acquiring a total of 75,664 shares worth approximately $6.79 million according to its 13F filing with the SEC.
• Institutional ownership of ConocoPhillips is strong, with over 82.36% of the stock held by institutions and hedge funds, reflecting growing confidence in the company.
• ConocoPhillips recently announced a quarterly dividend of $0.78 per share, resulting in an annualized yield of 3.6%, showcasing its ongoing commitment to returning value to shareholders.

Praxis Investment Management Inc. increased its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 4.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,664 shares of the energy producer's stock after purchasing an additional 3,510 shares during the period. Praxis Investment Management Inc.'s holdings in ConocoPhillips were worth $6,790,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of COP. Schwartz Investment Counsel Inc. raised its holdings in shares of ConocoPhillips by 159.6% in the first quarter. Schwartz Investment Counsel Inc. now owns 48,800 shares of the energy producer's stock worth $5,125,000 after acquiring an additional 30,000 shares during the last quarter. Aberdeen Group plc raised its holdings in shares of ConocoPhillips by 49.3% in the first quarter. Aberdeen Group plc now owns 801,426 shares of the energy producer's stock worth $83,969,000 after acquiring an additional 264,726 shares during the last quarter. ORG Wealth Partners LLC raised its stake in ConocoPhillips by 853.3% in the 1st quarter. ORG Wealth Partners LLC now owns 6,616 shares of the energy producer's stock valued at $698,000 after purchasing an additional 5,922 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in ConocoPhillips by 17.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 154,360 shares of the energy producer's stock valued at $13,927,000 after purchasing an additional 22,827 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC raised its stake in ConocoPhillips by 17.7% in the 1st quarter. Ashton Thomas Private Wealth LLC now owns 37,361 shares of the energy producer's stock valued at $3,924,000 after purchasing an additional 5,627 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on COP shares. Mizuho cut their price objective on shares of ConocoPhillips from $125.00 to $120.00 and set an "outperform" rating for the company in a research report on Monday, September 15th. Evercore ISI cut their price target on ConocoPhillips from $115.00 to $111.00 and set an "outperform" rating for the company in a report on Monday, October 6th. Barclays cut their price target on ConocoPhillips from $122.00 to $118.00 and set an "overweight" rating for the company in a report on Tuesday, October 7th. Morgan Stanley dropped their target price on ConocoPhillips from $123.00 to $122.00 and set an "overweight" rating for the company in a research note on Tuesday. Finally, JPMorgan Chase & Co. upped their target price on ConocoPhillips from $114.00 to $115.00 and gave the company an "overweight" rating in a research note on Thursday, October 9th. Seventeen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $116.78.

ConocoPhillips Stock Down 1.0%

Shares of NYSE COP opened at $86.83 on Friday. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $115.38. The company has a market cap of $108.45 billion, a P/E ratio of 11.66, a P/E/G ratio of 2.35 and a beta of 0.62. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The stock has a fifty day moving average price of $94.19 and a 200 day moving average price of $92.16.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The business had revenue of $14.94 billion during the quarter, compared to analyst estimates of $14.39 billion. During the same quarter last year, the firm earned $1.98 earnings per share. The company's revenue for the quarter was up 4.3% compared to the same quarter last year. Research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were given a $0.78 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.12 annualized dividend and a yield of 3.6%. ConocoPhillips's dividend payout ratio (DPR) is 41.88%.

ConocoPhillips Company Profile

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.

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