Peterson Wealth Services Cuts Stock Position in ConocoPhillips $COP

Peterson Wealth Services decreased its holdings in shares of ConocoPhillips (NYSE:COP) by 85.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,621 shares of the energy producer’s stock after selling 38,799 shares during the quarter. Peterson Wealth Services’ holdings in ConocoPhillips were worth $874,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in COP. Capital International Investors raised its position in ConocoPhillips by 5.9% in the fourth quarter. Capital International Investors now owns 48,360,060 shares of the energy producer’s stock valued at $4,527,230,000 after purchasing an additional 2,714,663 shares during the period. AQR Capital Management LLC boosted its position in shares of ConocoPhillips by 229.2% in the fourth quarter. AQR Capital Management LLC now owns 3,595,177 shares of the energy producer’s stock worth $336,544,000 after buying an additional 2,503,156 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of ConocoPhillips by 6.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 41,450,162 shares of the energy producer’s stock worth $3,880,151,000 after buying an additional 2,350,645 shares during the period. Ameriprise Financial Inc. grew its stake in shares of ConocoPhillips by 20.6% in the third quarter. Ameriprise Financial Inc. now owns 12,994,674 shares of the energy producer’s stock valued at $1,228,886,000 after buying an additional 2,216,010 shares in the last quarter. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of ConocoPhillips during the 3rd quarter valued at about $135,265,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

COP has been the topic of several recent research reports. Sanford C. Bernstein boosted their price target on ConocoPhillips from $98.00 to $121.00 and gave the stock an “outperform” rating in a research report on Monday, April 13th. The Goldman Sachs Group lowered their price objective on shares of ConocoPhillips from $144.00 to $138.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Capital One Financial dropped their price objective on shares of ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating on the stock in a research note on Monday, May 18th. BMO Capital Markets lowered their price target on shares of ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Finally, Jefferies Financial Group lifted their price target on shares of ConocoPhillips from $160.00 to $161.00 and gave the stock a “buy” rating in a research note on Monday, May 18th. Eighteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and an average price target of $134.04.

ConocoPhillips Price Performance

COP stock opened at $107.93 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 52-week low of $85.57 and a 52-week high of $135.87. The stock’s 50 day moving average is $114.53 and its two-hundred day moving average is $112.68. The company has a market capitalization of $131.49 billion, a PE ratio of 18.32, a P/E/G ratio of 1.28 and a beta of 0.12.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. The company had revenue of $15.76 billion for the quarter, compared to analyst estimates of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.ConocoPhillips’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.09 EPS. Analysts predict that ConocoPhillips will post 9.59 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were issued a $0.84 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $3.36 annualized dividend and a yield of 3.1%. ConocoPhillips’s dividend payout ratio is currently 57.05%.

Key ConocoPhillips News

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Crude prices have been supported by renewed Middle East tensions, which can lift ConocoPhillips’ cash flow and earnings expectations because the company is highly leveraged to oil and gas prices.
• Positive Sentiment: Truist raised its price target framework around COP to $115, indicating some Wall Street analysts still see upside from current levels despite a lower target than before.
• Positive Sentiment: Coverage highlighting COP’s growing LNG presence may be helping the investment case by pointing to longer-term growth in liquefied natural gas demand and exports. Article Title
• Neutral Sentiment: Recent articles also noted that COP can move sharply with market-wide risk sentiment and oil headlines, which makes the stock volatile even when there is no company-specific news.
• Negative Sentiment: Truist cut its price target from $128 to $115 and kept a hold rating, signaling a more cautious view on near-term upside and likely weighing on the stock.
• Negative Sentiment: A Zacks article noted COP was lower even as the broader market advanced, suggesting investors were taking profits after the prior oil-driven rally. Article Title

ConocoPhillips Company Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.