Valeo Financial Advisors LLC Grows Stock Holdings in ConocoPhillips $COP

Key Points

• Valeo Financial Advisors LLC significantly increased its holdings in ConocoPhillips by 6,156.1% during the second quarter, now owning approximately 1.5 million shares valued at $135.3 million.
• In its latest earnings report, ConocoPhillips reported $1.42 EPS, exceeding analysts' expectations and generating $14.94 billion in revenue, up 4.3% year-over-year.
• The company recently announced a $0.78 quarterly dividend, representing an annual yield of 3.3% with a payout ratio of 41.88%.

Valeo Financial Advisors LLC grew its position in ConocoPhillips (NYSE:COP - Free Report) by 6,156.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,508,169 shares of the energy producer's stock after purchasing an additional 1,484,062 shares during the quarter. Valeo Financial Advisors LLC owned about 0.12% of ConocoPhillips worth $135,343,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Knights of Columbus Asset Advisors LLC boosted its position in shares of ConocoPhillips by 1.6% in the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 84,526 shares of the energy producer's stock worth $7,585,000 after purchasing an additional 1,328 shares in the last quarter. DAVENPORT & Co LLC raised its stake in ConocoPhillips by 11.4% in the second quarter. DAVENPORT & Co LLC now owns 90,352 shares of the energy producer's stock valued at $8,124,000 after buying an additional 9,253 shares during the last quarter. Grimes & Company Inc. boosted its holdings in ConocoPhillips by 1.1% in the second quarter. Grimes & Company Inc. now owns 12,665 shares of the energy producer's stock worth $1,137,000 after acquiring an additional 136 shares in the last quarter. Merit Financial Group LLC grew its stake in shares of ConocoPhillips by 16.4% during the second quarter. Merit Financial Group LLC now owns 61,885 shares of the energy producer's stock worth $5,554,000 after acquiring an additional 8,711 shares during the last quarter. Finally, Simplicity Wealth LLC increased its holdings in shares of ConocoPhillips by 19.2% during the second quarter. Simplicity Wealth LLC now owns 12,122 shares of the energy producer's stock valued at $1,088,000 after acquiring an additional 1,954 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company's stock.

ConocoPhillips Stock Up 0.8%

COP opened at $94.17 on Monday. The company has a fifty day moving average of $94.92 and a two-hundred day moving average of $92.79. The stock has a market capitalization of $117.61 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 2.49 and a beta of 0.62. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $116.08. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27.

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

ConocoPhillips Announces Dividend

The business 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. The ex-dividend date was Monday, August 18th. This represents a $3.12 annualized dividend and a dividend yield of 3.3%. ConocoPhillips's dividend payout ratio (DPR) is 41.88%.

Analyst Ratings Changes

COP has been the topic of several research analyst reports. Piper Sandler boosted their target price on shares of ConocoPhillips from $123.00 to $124.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th. Weiss Ratings reissued a "hold (c-)" rating on shares of ConocoPhillips in a research report on Saturday, September 27th. Citigroup lowered their price target on ConocoPhillips from $140.00 to $115.00 and set a "buy" rating for the company in a research report on Wednesday, June 11th. UBS Group boosted their price target on ConocoPhillips from $116.00 to $124.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. Finally, Wells Fargo & Company restated an "overweight" rating and issued a $117.00 price objective (up from $113.00) on shares of ConocoPhillips in a research note on Thursday, June 26th. Sixteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, ConocoPhillips currently has an average rating of "Moderate Buy" and a consensus price target of $119.77.

About ConocoPhillips

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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