Jacobs & Co. CA Has $354,000 Position in ConocoPhillips (NYSE:COP)

Jacobs & Co. CA cut its holdings in ConocoPhillips (NYSE:COP) by 24.4% in the second quarter, Holdings Channel.com reports. The fund owned 3,421 shares of the energy producer’s stock after selling 1,103 shares during the quarter. Jacobs & Co. CA’s holdings in ConocoPhillips were worth $354,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Arosa Capital Management LP raised its position in shares of ConocoPhillips by 3.4% in the fourth quarter. Arosa Capital Management LP now owns 124,050 shares of the energy producer’s stock valued at $14,638,000 after purchasing an additional 4,050 shares during the period. Axxcess Wealth Management LLC boosted its stake in ConocoPhillips by 168.6% during the fourth quarter. Axxcess Wealth Management LLC now owns 16,613 shares of the energy producer’s stock worth $1,961,000 after buying an additional 10,429 shares in the last quarter. Royal Fund Management LLC boosted its stake in ConocoPhillips by 24.8% during the first quarter. Royal Fund Management LLC now owns 9,272 shares of the energy producer’s stock worth $920,000 after buying an additional 1,843 shares in the last quarter. One Capital Management LLC acquired a new stake in ConocoPhillips during the first quarter worth $270,000. Finally, Herold Advisors Inc. acquired a new stake in shares of ConocoPhillips in the 1st quarter valued at $213,000. 80.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Trading Up 1.5 %

NYSE COP opened at $125.40 on Monday. The company has a market cap of $150.17 billion, a PE ratio of 12.00, a PEG ratio of 0.78 and a beta of 1.30. The company has a current ratio of 1.41, a quick ratio of 1.28 and a debt-to-equity ratio of 0.33. ConocoPhillips has a 12 month low of $91.53 and a 12 month high of $138.49. The stock has a 50 day moving average of $116.22 and a 200-day moving average of $107.25.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, August 3rd. The energy producer reported $1.84 earnings per share for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.10). ConocoPhillips had a net margin of 18.66% and a return on equity of 27.27%. The business had revenue of $12.88 billion during the quarter, compared to the consensus estimate of $14.64 billion. During the same quarter last year, the company posted $3.91 EPS. On average, equities research analysts anticipate that ConocoPhillips will post 8.74 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Wednesday, August 16th were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 1.63%. The ex-dividend date was Wednesday, September 27th. ConocoPhillips’s payout ratio is 19.65%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on COP shares. UBS Group boosted their target price on shares of ConocoPhillips from $127.00 to $147.00 and gave the company a “buy” rating in a research note on Thursday, August 17th. Piper Sandler dropped their price objective on ConocoPhillips from $149.00 to $125.00 in a report on Tuesday, June 13th. StockNews.com began coverage on ConocoPhillips in a report on Thursday, August 17th. They set a “hold” rating for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $130.00 price target on shares of ConocoPhillips in a research note on Monday, August 14th. Finally, Truist Financial upped their price target on ConocoPhillips from $151.00 to $160.00 in a research note on Monday. Five investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.11.

Insiders Place Their Bets

In other ConocoPhillips news, CEO Ryan Michael Lance sold 569,400 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $122.14, for a total transaction of $69,546,516.00. Following the transaction, the chief executive officer now owns 18,187 shares in the company, valued at approximately $2,221,360.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.37% of the company’s stock.

ConocoPhillips Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States and internationally. The company's 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 global exploration prospects.