Ethos Financial Group LLC Takes Position in ConocoPhillips $COP

Key Points

• Ethos Financial Group LLC acquired a new stake in ConocoPhillips, purchasing 3,154 shares valued at approximately $331,000 during Q1.
• ConocoPhillips recently announced a quarterly dividend of $0.78 per share, with a dividend yield of 3.3%, to be paid on September 2nd.
• Analysts generally have a positive outlook on ConocoPhillips, with a current average rating of "Moderate Buy" and a price target of $120.84.

Ethos Financial Group LLC purchased a new stake in shares of ConocoPhillips (NYSE:COP - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,154 shares of the energy producer's stock, valued at approximately $331,000.

A number of other large investors also recently modified their holdings of the business. Bridgewater Associates LP grew its holdings in ConocoPhillips by 157.5% during the fourth quarter. Bridgewater Associates LP now owns 7,929 shares of the energy producer's stock worth $786,000 after acquiring an additional 4,850 shares during the period. Jump Financial LLC acquired a new position in ConocoPhillips during the fourth quarter worth about $1,128,000. GeoWealth Management LLC grew its holdings in ConocoPhillips by 19.0% during the fourth quarter. GeoWealth Management LLC now owns 8,564 shares of the energy producer's stock worth $849,000 after acquiring an additional 1,367 shares during the period. Capital World Investors grew its holdings in ConocoPhillips by 0.3% during the fourth quarter. Capital World Investors now owns 8,653,331 shares of the energy producer's stock worth $858,150,000 after acquiring an additional 26,157 shares during the period. Finally, Natixis grew its holdings in ConocoPhillips by 4.1% during the fourth quarter. Natixis now owns 206,938 shares of the energy producer's stock worth $20,522,000 after acquiring an additional 8,115 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on COP. Raymond James Financial lifted their target price on ConocoPhillips from $109.00 to $117.00 and gave the stock an "outperform" rating in a report on Tuesday, July 22nd. Bank of America dropped their price target on ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. Roth Capital reissued a "buy" rating and issued a $108.00 price target on shares of ConocoPhillips in a research note on Thursday, August 7th. Barclays dropped their price target on ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Finally, Piper Sandler reissued an "overweight" rating and issued a $123.00 price target (up previously from $113.00) on shares of ConocoPhillips in a research note on Tuesday, July 15th. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $120.84.

ConocoPhillips Trading Down 0.3%

Shares of NYSE COP opened at $95.39 on Monday. The firm has a market capitalization of $119.14 billion, a PE ratio of 12.80, a PEG ratio of 2.48 and a beta of 0.67. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. ConocoPhillips has a one year low of $79.88 and a one year high of $116.08. The business has a 50-day moving average price of $93.61 and a two-hundred day moving average price of $93.35.

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

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Monday, August 18th. ConocoPhillips's payout ratio is currently 41.88%.

Insider Activity

In other news, EVP Kirk L. Johnson purchased 5,300 shares of ConocoPhillips stock in a transaction dated Monday, June 16th. The stock was acquired 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 represents a 57.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.24% of the stock is currently owned by corporate insiders.

ConocoPhillips 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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