Shepherd Financial Partners LLC Takes $652,000 Position in ConocoPhillips $COP

Shepherd Financial Partners LLC acquired a new position in shares of ConocoPhillips (NYSE:COP) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 6,268 shares of the energy producer’s stock, valued at approximately $652,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. AXA S.A. boosted its holdings in shares of ConocoPhillips by 91.1% in the 2nd quarter. AXA S.A. now owns 84,937 shares of the energy producer’s stock worth $7,622,000 after purchasing an additional 40,499 shares in the last quarter. Sei Investments Co. raised its holdings in shares of ConocoPhillips by 6.1% during the 2nd quarter. Sei Investments Co. now owns 784,368 shares of the energy producer’s stock valued at $70,397,000 after buying an additional 44,852 shares in the last quarter. BNP Paribas purchased a new position in shares of ConocoPhillips during the 2nd quarter valued at about $33,000. Osterweis Capital Management Inc. bought a new stake in ConocoPhillips in the 2nd quarter worth approximately $151,000. Finally, Main Street Financial Solutions LLC lifted its position in ConocoPhillips by 53.5% in the 2nd quarter. Main Street Financial Solutions LLC now owns 4,806 shares of the energy producer’s stock worth $431,000 after buying an additional 1,675 shares during the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Barclays reduced their price target on shares of ConocoPhillips from $155.00 to $150.00 and set an “overweight” rating on the stock in a research report on Monday. Truist Financial boosted their price objective on shares of ConocoPhillips from $115.00 to $130.00 and gave the stock a “hold” rating in a report on Monday, August 10th. Morgan Stanley upped their price objective on shares of ConocoPhillips from $147.00 to $151.00 and gave the company an “overweight” rating in a research note on Wednesday. Jefferies Financial Group increased their target price on shares of ConocoPhillips from $160.00 to $161.00 and gave the company a “buy” rating in a report on Monday, May 18th. Finally, Wall Street Zen upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $139.21.

ConocoPhillips Price Performance

COP opened at $130.72 on Thursday. The stock’s 50 day simple moving average is $114.53 and its 200 day simple moving average is $117.32. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.39. ConocoPhillips has a 1 year low of $85.57 and a 1 year high of $135.87. The firm has a market cap of $157.04 billion, a price-to-earnings ratio of 17.29, a PEG ratio of 1.43 and a beta of 0.11.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, beating the consensus estimate of $2.90 by $0.34. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.The firm had revenue of $19.52 billion during the quarter, compared to the consensus estimate of $18.79 billion. During the same quarter in the previous year, the company posted $1.42 earnings per share. The business’s revenue was up 32.4% on a year-over-year basis. As a group, analysts predict that ConocoPhillips will post 10.05 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 17th will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, August 17th. ConocoPhillips’s payout ratio is presently 44.44%.

ConocoPhillips 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.