CX Institutional Buys 19,148 Shares of ConocoPhillips $COP

Key Points

• CX Institutional increased its stake in ConocoPhillips (COP) by 32.5% in the second quarter, holding 77,993 shares worth $6,999,000.
• Analyst ratings for COP include a price target increase from $116.00 to $124.00 by UBS Group, while other firms have set targets ranging from $106.00 to $117.00.
• ConocoPhillips reported $1.42 EPS in its last earnings release, exceeding analyst estimates and showing a 4.3% year-over-year revenue increase.

CX Institutional lifted its holdings in ConocoPhillips (NYSE:COP - Free Report) by 32.5% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 77,993 shares of the energy producer's stock after buying an additional 19,148 shares during the quarter. CX Institutional's holdings in ConocoPhillips were worth $6,999,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Elevation Point Wealth Partners LLC lifted its position in ConocoPhillips by 83.0% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 18,060 shares of the energy producer's stock valued at $1,897,000 after purchasing an additional 8,189 shares during the last quarter. Schwartz Investment Counsel Inc. raised its holdings in shares of ConocoPhillips by 159.6% in the 1st quarter. Schwartz Investment Counsel Inc. now owns 48,800 shares of the energy producer's stock worth $5,125,000 after purchasing an additional 30,000 shares in the last quarter. Aberdeen Group plc raised its holdings in shares of ConocoPhillips by 49.3% in the 1st quarter. Aberdeen Group plc now owns 801,426 shares of the energy producer's stock worth $83,969,000 after purchasing an additional 264,726 shares in the last quarter. ORG Wealth Partners LLC raised its holdings in shares of ConocoPhillips by 853.3% in the 1st quarter. ORG Wealth Partners LLC now owns 6,616 shares of the energy producer's stock worth $698,000 after purchasing an additional 5,922 shares in the last quarter. Finally, Hennessy Advisors Inc. increased its position in shares of ConocoPhillips by 151.1% in the first quarter. Hennessy Advisors Inc. now owns 91,224 shares of the energy producer's stock worth $9,580,000 after acquiring an additional 54,900 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on COP shares. Susquehanna dropped their target price on shares of ConocoPhillips from $114.00 to $113.00 and set a "positive" rating on the stock in a research report on Wednesday, July 23rd. Raymond James Financial reduced their price objective on shares of ConocoPhillips from $117.00 to $115.00 and set an "outperform" rating for the company in a research note on Monday, September 8th. Piper Sandler boosted their price objective on shares of ConocoPhillips from $123.00 to $124.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. UBS Group boosted their price objective on shares of ConocoPhillips from $116.00 to $124.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Finally, Royal Bank Of Canada cut their target price on shares of ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating for the company in a research note on Friday, July 11th. Sixteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $120.62.

ConocoPhillips Trading Down 1.7%

Shares of NYSE:COP traded down $1.59 during mid-day trading on Friday, reaching $91.89. The stock had a trading volume of 15,283,514 shares, compared to its average volume of 6,350,395. 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 firm has a market cap of $114.77 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 2.42 and a beta of 0.69. The firm has a 50 day simple moving average of $94.59 and a two-hundred day simple moving average of $92.97. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $116.08.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings data 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 net margin of 15.26% and a return on equity of 14.60%. The company had revenue of $14.94 billion for the quarter, compared to the consensus estimate of $14.39 billion. During the same period last year, the company earned $1.98 earnings per share. The firm's revenue was up 4.3% compared to the same quarter last year. On average, research analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were given 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 of this dividend was Monday, August 18th. ConocoPhillips's payout ratio is presently 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.