IMS Capital Management Purchases New Shares in ConocoPhillips $COP

Key Points

• IMS Capital Management acquired a new stake in ConocoPhillips, purchasing 3,066 shares valued at approximately $275,000 in the 2nd quarter.
• ConocoPhillips reported a strong 2nd quarter with an earnings per share (EPS) of $1.42, exceeding analyst estimates of $1.36 and showing a year-over-year revenue increase of 4.3%.
• Analysts maintain a consensus rating of "Moderate Buy" for ConocoPhillips, with an average target price of $120.14, reflecting positive sentiment towards the stock's future performance.

IMS Capital Management purchased a new stake in ConocoPhillips (NYSE:COP - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 3,066 shares of the energy producer's stock, valued at approximately $275,000.

Other institutional investors have also added to or reduced their stakes in the company. First National Bank Sioux Falls lifted its position in shares of ConocoPhillips by 4.6% during the 2nd quarter. First National Bank Sioux Falls now owns 2,572 shares of the energy producer's stock valued at $231,000 after acquiring an additional 113 shares during the period. KLCM Advisors Inc. lifted its position in shares of ConocoPhillips by 2.6% during the 1st quarter. KLCM Advisors Inc. now owns 4,503 shares of the energy producer's stock valued at $473,000 after acquiring an additional 115 shares during the period. Deseret Mutual Benefit Administrators lifted its position in shares of ConocoPhillips by 3.9% during the 1st quarter. Deseret Mutual Benefit Administrators now owns 3,177 shares of the energy producer's stock valued at $334,000 after acquiring an additional 118 shares during the period. Oregon Pacific Wealth Management LLC lifted its position in shares of ConocoPhillips by 5.8% during the 2nd quarter. Oregon Pacific Wealth Management LLC now owns 2,229 shares of the energy producer's stock valued at $200,000 after acquiring an additional 123 shares during the period. Finally, Piscataqua Savings Bank lifted its position in shares of ConocoPhillips by 3.5% during the 1st quarter. Piscataqua Savings Bank now owns 3,705 shares of the energy producer's stock valued at $389,000 after acquiring an additional 125 shares during the period. 82.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Raymond James Financial dropped their price objective on ConocoPhillips from $117.00 to $115.00 and set an "outperform" rating for the company in a research report on Monday, September 8th. Piper Sandler upped their price objective on ConocoPhillips from $123.00 to $124.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th. BMO Capital Markets upped their price objective on ConocoPhillips from $113.00 to $115.00 and gave the stock an "outperform" rating in a research report on Monday. Melius Research assumed coverage on ConocoPhillips in a research report on Wednesday, August 20th. They set a "hold" rating and a $117.00 price objective for the company. Finally, Melius initiated coverage on ConocoPhillips in a research report on Wednesday, August 20th. They set a "hold" rating and a $117.00 price objective for the company. Sixteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $120.14.

ConocoPhillips Stock Performance

NYSE:COP opened at $95.54 on Thursday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. The business has a fifty day simple moving average of $94.64 and a two-hundred day simple moving average of $93.00. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $116.08. The company has a market capitalization of $119.33 billion, a P/E ratio of 12.82, a P/E/G ratio of 2.46 and a beta of 0.69.

ConocoPhillips (NYSE:COP - Get Free Report) last released its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $14.39 billion. During the same period last year, the business posted $1.98 earnings per share. The business's revenue for the quarter was up 4.3% on a year-over-year basis. On average, analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were given a $0.78 dividend. The ex-dividend date was Monday, August 18th. This represents a $3.12 annualized dividend and a dividend yield of 3.3%. ConocoPhillips's payout ratio is 41.88%.

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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