Farther Finance Advisors LLC Increases Stake in ConocoPhillips (NYSE:COP)

Farther Finance Advisors LLC raised its stake in ConocoPhillips (NYSE:COP - Free Report) by 84.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,236 shares of the energy producer's stock after purchasing an additional 12,477 shares during the period. Farther Finance Advisors LLC's holdings in ConocoPhillips were worth $2,870,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in COP. Murphy & Mullick Capital Management Corp purchased a new stake in shares of ConocoPhillips during the fourth quarter worth about $26,000. Centricity Wealth Management LLC acquired a new stake in ConocoPhillips in the 4th quarter worth approximately $27,000. 10Elms LLP purchased a new stake in ConocoPhillips during the 4th quarter worth approximately $28,000. Crowley Wealth Management Inc. acquired a new position in ConocoPhillips during the 4th quarter valued at approximately $32,000. Finally, Wingate Wealth Advisors Inc. purchased a new position in shares of ConocoPhillips in the fourth quarter worth $36,000. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Price Performance

Shares of COP stock traded up $2.31 during trading hours on Friday, hitting $97.00. 16,786,406 shares of the company's stock were exchanged, compared to its average volume of 7,478,649. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $118.40. The firm has a market cap of $122.63 billion, a P/E ratio of 12.45, a P/E/G ratio of 0.79 and a beta of 0.61. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The firm has a 50 day moving average of $88.91 and a two-hundred day moving average of $95.95.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, topping analysts' consensus estimates of $2.05 by $0.04. The company had revenue of $16.18 billion during the quarter, compared to analysts' expectations of $15.74 billion. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. During the same period in the prior year, the business posted $2.05 earnings per share. Sell-side analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were given a dividend of $0.78 per share. The ex-dividend date was Monday, May 19th. This represents a $3.12 annualized dividend and a dividend yield of 3.22%. ConocoPhillips's dividend payout ratio (DPR) is presently 39.64%.

Analyst Ratings Changes

Several equities analysts recently issued reports on COP shares. Susquehanna cut their target price on ConocoPhillips from $120.00 to $114.00 and set a "positive" rating on the stock in a research report on Monday, May 12th. Mizuho decreased their target price on ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Piper Sandler cut their price target on shares of ConocoPhillips from $114.00 to $107.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. UBS Group reduced their price target on shares of ConocoPhillips from $116.00 to $111.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Finally, Barclays cut their price objective on shares of ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, ConocoPhillips currently has a consensus rating of "Moderate Buy" and a consensus price target of $121.30.

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.