7,780 Shares in ConocoPhillips $COP Purchased by Cvfg LLC

Cvfg LLC purchased a new stake in shares of ConocoPhillips (NYSE:COP) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 7,780 shares of the energy producer’s stock, valued at approximately $1,027,000.

A number of other hedge funds have also recently modified their holdings of the business. Arbor Trust Wealth Advisors LLC raised its stake in shares of ConocoPhillips by 11.4% during the first quarter. Arbor Trust Wealth Advisors LLC now owns 2,697 shares of the energy producer’s stock valued at $356,000 after acquiring an additional 275 shares in the last quarter. Saxon Interests Inc. purchased a new stake in shares of ConocoPhillips in the 1st quarter worth approximately $217,000. KERR FINANCIAL PLANNING Corp boosted its stake in shares of ConocoPhillips by 316.9% during the first quarter. KERR FINANCIAL PLANNING Corp now owns 1,334 shares of the energy producer’s stock valued at $165,000 after purchasing an additional 1,014 shares in the last quarter. Armor Investment Advisors LLC bought a new position in shares of ConocoPhillips during the first quarter valued at approximately $212,000. Finally, Horst & Graben Wealth Management LLC purchased a new position in ConocoPhillips during the first quarter valued at approximately $258,000. Institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Royal Bank Of Canada set a $130.00 target price on ConocoPhillips in a report on Monday, June 22nd. Raymond James Financial cut their price target on ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating on the stock in a report on Monday, June 1st. Mizuho cut their target price on ConocoPhillips from $150.00 to $146.00 and set an “outperform” rating on the stock in a research note on Tuesday. Piper Sandler boosted their target price on shares of ConocoPhillips from $154.00 to $157.00 and gave the stock an “overweight” rating in a report on Wednesday, April 8th. Finally, Argus increased their price target on shares of ConocoPhillips from $128.00 to $136.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Eighteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $134.04.

ConocoPhillips Trading Up 2.0%

Shares of NYSE:COP opened at $110.58 on Thursday. The business’s 50-day moving average is $114.85 and its 200 day moving average is $112.57. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14. ConocoPhillips has a 1 year low of $85.57 and a 1 year high of $135.87. The firm has a market capitalization of $134.71 billion, a P/E ratio of 18.77, a P/E/G ratio of 1.26 and a beta of 0.12.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.17. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The business had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. During the same quarter last year, the company earned $2.09 earnings per share. The company’s quarterly revenue was down 6.1% on a year-over-year basis. On average, research analysts predict that ConocoPhillips will post 9.57 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders 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 dividend on an annualized basis and a dividend yield of 3.0%. ConocoPhillips’s dividend payout ratio (DPR) is currently 57.05%.

Key ConocoPhillips News

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Crude oil prices surged after escalating Middle East conflict and shipping disruptions, lifting sentiment on COP because higher oil prices can translate into stronger upstream earnings and cash flow. Why ConocoPhillips Stock Is Rising Wednesday
• Positive Sentiment: ConocoPhillips was highlighted as trading below fair value in a valuation-focused article, suggesting some investors still see upside if oil prices remain elevated. Is ConocoPhillips (COP) Still Below Fair Value After Oil Prices Jumped?
• Positive Sentiment: Evercore ISI reportedly maintained a buy rating on COP, reinforcing a constructive analyst view despite recent volatility. Conocophillips (COP) Receives a Buy from Evercore ISI
• Neutral Sentiment: Truist lowered its price target to $115 from $128 and kept a hold rating, which is a modest headwind but still implies limited upside from current levels. Benzinga analyst update
• Neutral Sentiment: Recent index-related buying and broad energy-stock enthusiasm have also helped support the shares, but these factors are secondary to the oil-price move. How Investors May Respond To ConocoPhillips (COP) Shelf Moves Amid Index Shift And Oil Shock

About ConocoPhillips

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.