CFS Investment Advisory Services LLC Raises Position in ConocoPhillips (NYSE:COP)

CFS Investment Advisory Services LLC grew its holdings in shares of ConocoPhillips (NYSE:COPFree Report) by 20.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 3,330 shares of the energy producer’s stock after purchasing an additional 559 shares during the quarter. CFS Investment Advisory Services LLC’s holdings in ConocoPhillips were worth $387,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Massachusetts Financial Services Co. MA raised its stake in ConocoPhillips by 0.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 27,672,104 shares of the energy producer’s stock worth $3,211,901,000 after acquiring an additional 108,956 shares during the last quarter. Northern Trust Corp raised its stake in ConocoPhillips by 3.2% in the 3rd quarter. Northern Trust Corp now owns 12,486,871 shares of the energy producer’s stock worth $1,495,927,000 after acquiring an additional 386,276 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in ConocoPhillips by 2.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 12,011,035 shares of the energy producer’s stock worth $1,394,162,000 after acquiring an additional 270,859 shares during the last quarter. Ameriprise Financial Inc. raised its stake in ConocoPhillips by 8.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 8,063,795 shares of the energy producer’s stock worth $968,410,000 after acquiring an additional 659,632 shares during the last quarter. Finally, Fisher Asset Management LLC raised its stake in ConocoPhillips by 2.8% in the 4th quarter. Fisher Asset Management LLC now owns 7,425,948 shares of the energy producer’s stock worth $861,930,000 after acquiring an additional 204,714 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Mizuho reduced their target price on ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating for the company in a research note on Wednesday. Truist Financial increased their price target on ConocoPhillips from $160.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday. Raymond James reaffirmed a “strong-buy” rating and set a $159.00 price target (up from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Morgan Stanley increased their price target on ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Finally, Barclays increased their price target on ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $144.35.

View Our Latest Stock Report on ConocoPhillips

ConocoPhillips Price Performance

COP stock traded down $0.20 during trading on Friday, hitting $112.00. The stock had a trading volume of 4,360,504 shares, compared to its average volume of 5,480,770. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.35 and a quick ratio of 1.21. ConocoPhillips has a twelve month low of $99.35 and a twelve month high of $135.18. The stock has a market capitalization of $130.99 billion, a P/E ratio of 12.68, a PEG ratio of 2.51 and a beta of 1.22. The company’s 50-day moving average price is $123.91 and its two-hundred day moving average price is $117.71.

ConocoPhillips (NYSE:COPGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The energy producer reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.04. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. The company had revenue of $14.48 billion for the quarter, compared to analysts’ expectations of $14.72 billion. As a group, research analysts predict that ConocoPhillips will post 8.93 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 13th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.79%. The ex-dividend date was Friday, May 10th. ConocoPhillips’s payout ratio is 26.27%.

Insider Buying and Selling

In other ConocoPhillips news, CEO Ryan Michael Lance sold 607,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $125.91, for a total value of $76,427,370.00. Following the transaction, the chief executive officer now directly owns 6,780 shares of the company’s stock, valued at approximately $853,669.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other ConocoPhillips news, CFO William L. Jr. Bullock sold 45,200 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $123.32, for a total value of $5,574,064.00. Following the transaction, the chief financial officer now directly owns 44,153 shares of the company’s stock, valued at approximately $5,444,947.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Michael Lance sold 607,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the completion of the transaction, the chief executive officer now directly owns 6,780 shares in the company, valued at $853,669.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 664,350 shares of company stock worth $83,537,680. Insiders own 0.34% of the company’s stock.

ConocoPhillips Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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