Jacobi Capital Management LLC cut its holdings in ConocoPhillips (NYSE:COP) by 4.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 7,973 shares of the energy producer’s stock after selling 354 shares during the quarter. Jacobi Capital Management LLC’s holdings in ConocoPhillips were worth $335,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of COP. Lenox Wealth Advisors LLC lifted its stake in ConocoPhillips by 2,105.6% in the 2nd quarter. Lenox Wealth Advisors LLC now owns 794 shares of the energy producer’s stock valued at $33,000 after acquiring an additional 758 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in ConocoPhillips by 21.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,190,110 shares of the energy producer’s stock valued at $50,007,000 after acquiring an additional 209,260 shares in the last quarter. Fulton Bank N. A. lifted its stake in ConocoPhillips by 4.6% in the 2nd quarter. Fulton Bank N. A. now owns 35,336 shares of the energy producer’s stock valued at $1,485,000 after acquiring an additional 1,559 shares in the last quarter. Advisor Group Holdings Inc. bought a new stake in ConocoPhillips in the 1st quarter valued at approximately $7,698,000. Finally, Raymond James Financial Services Advisors Inc. raised its stake in shares of ConocoPhillips by 15.3% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 286,246 shares of the energy producer’s stock worth $12,028,000 after purchasing an additional 37,985 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.
COP has been the topic of a number of analyst reports. Bank of America cut ConocoPhillips from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $43.00 to $46.00 in a research note on Friday, May 1st. They noted that the move was a valuation call. Piper Sandler increased their price target on ConocoPhillips from $49.00 to $50.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. Argus increased their price target on ConocoPhillips from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Cfra cut ConocoPhillips to a “hold” rating and set a $50.00 price target on the stock. in a research note on Wednesday, June 10th. Finally, ValuEngine raised ConocoPhillips from a “sell” rating to a “hold” rating in a report on Friday, May 1st. Five analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $56.25.
In other news, Director David Thomas Seaton acquired 2,400 shares of ConocoPhillips stock in a transaction on Wednesday, May 13th. The stock was purchased at an average price of $41.03 per share, with a total value of $98,472.00. Following the completion of the purchase, the director now owns 2,500 shares of the company’s stock, valued at approximately $102,575. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.70% of the company’s stock.
Shares of COP opened at $38.96 on Wednesday. ConocoPhillips has a 1 year low of $20.84 and a 1 year high of $67.13. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.16 and a quick ratio of 2.04. The company has a market capitalization of $42.65 billion, a price-to-earnings ratio of 12.21 and a beta of 1.69. The business has a 50-day moving average of $41.91 and a 200-day moving average of $44.65.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, April 30th. The energy producer reported $0.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.22. ConocoPhillips had a return on equity of 10.02% and a net margin of 11.51%. The company had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $6.55 billion. During the same period last year, the company earned $1.00 earnings per share. As a group, sell-side analysts anticipate that ConocoPhillips will post -0.32 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, July 20th will be paid a dividend of $0.42 per share. The ex-dividend date is Friday, July 17th. This represents a $1.68 annualized dividend and a yield of 4.31%. ConocoPhillips’s dividend payout ratio is currently 46.80%.
ConocoPhillips Company Profile
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.
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