Compound Planning Inc. Increases Stake in ConocoPhillips $COP

Compound Planning Inc. raised its stake in ConocoPhillips (NYSE:COP) by 145.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 41,984 shares of the energy producer’s stock after purchasing an additional 24,886 shares during the quarter. Compound Planning Inc.’s holdings in ConocoPhillips were worth $5,542,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in COP. Concurrent Investment Advisors LLC increased its position in shares of ConocoPhillips by 31.2% during the fourth quarter. Concurrent Investment Advisors LLC now owns 86,171 shares of the energy producer’s stock valued at $8,067,000 after acquiring an additional 20,501 shares in the last quarter. D.A. Davidson & CO. increased its holdings in shares of ConocoPhillips by 10.5% in the 4th quarter. D.A. Davidson & CO. now owns 155,662 shares of the energy producer’s stock worth $14,572,000 after purchasing an additional 14,833 shares in the last quarter. Czech National Bank raised its stake in shares of ConocoPhillips by 2.7% in the fourth quarter. Czech National Bank now owns 325,841 shares of the energy producer’s stock worth $30,502,000 after purchasing an additional 8,635 shares during the last quarter. Assetmark Inc. lifted its holdings in shares of ConocoPhillips by 17.6% during the fourth quarter. Assetmark Inc. now owns 410,229 shares of the energy producer’s stock valued at $38,402,000 after purchasing an additional 61,361 shares in the last quarter. Finally, BXM Wealth LLC boosted its position in shares of ConocoPhillips by 691.6% during the fourth quarter. BXM Wealth LLC now owns 40,016 shares of the energy producer’s stock valued at $3,746,000 after buying an additional 34,961 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Sanford C. Bernstein upped their target price on shares of ConocoPhillips from $98.00 to $121.00 and gave the company an “outperform” rating in a research note on Monday, April 13th. Morgan Stanley cut their price target on ConocoPhillips from $153.00 to $146.00 and set an “overweight” rating for the company in a research note on Friday, June 26th. Truist Financial reduced their price target on shares of ConocoPhillips from $128.00 to $115.00 and set a “hold” rating for the company in a research report on Wednesday, July 8th. Argus raised their price objective on shares of ConocoPhillips from $128.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Finally, Royal Bank Of Canada set a $130.00 target price on shares of ConocoPhillips in a report on Monday, June 22nd. Eighteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $134.16.

ConocoPhillips Stock Performance

Shares of COP opened at $120.30 on Friday. The firm has a market cap of $146.56 billion, a PE ratio of 20.42, a P/E/G ratio of 1.43 and a beta of 0.12. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. The stock has a fifty day moving average price of $113.54 and a 200-day moving average price of $114.18. ConocoPhillips has a 12 month low of $85.57 and a 12 month high of $135.87.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. The firm had revenue of $15.76 billion for the quarter, compared to analyst estimates of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The business’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.09 earnings per share. Equities research analysts predict that ConocoPhillips will post 9.2 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were given a $0.84 dividend. The ex-dividend date was Monday, May 11th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.8%. ConocoPhillips’s payout ratio is 57.05%.

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.