Centaurus Financial Inc. Purchases Shares of 6,275 ConocoPhillips $COP

Centaurus Financial Inc. purchased a new stake in shares of ConocoPhillips (NYSE:COP) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 6,275 shares of the energy producer’s stock, valued at approximately $652,000.

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

Analysts Set New Price Targets

COP has been the subject of a number of research reports. UBS Group increased their price target on ConocoPhillips from $143.00 to $153.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Capital One Financial cut their price target on shares of ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating for the company in a report on Monday, May 18th. Royal Bank Of Canada set a $130.00 target price on shares of ConocoPhillips in a report on Monday, June 22nd. Truist Financial raised their target price on shares of ConocoPhillips from $115.00 to $130.00 and gave the stock a “hold” rating in a report on Monday, August 10th. Finally, The Goldman Sachs Group dropped their price target on ConocoPhillips from $144.00 to $138.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.29.

Insider Buying and Selling

In other ConocoPhillips news, SVP Andrew D. Lundquist sold 9,487 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $135.15, for a total value of $1,282,168.05. Following the transaction, the senior vice president owned 9,593 shares in the company, valued at $1,296,493.95. The trade was a 49.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.09% of the stock is owned by company insiders.

ConocoPhillips Stock Up 0.7%

COP stock opened at $130.46 on Friday. ConocoPhillips has a 52-week low of $85.57 and a 52-week high of $135.88. The company’s 50 day simple moving average is $117.42 and its 200-day simple moving average is $118.56. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.39. The firm has a market capitalization of $156.73 billion, a P/E ratio of 17.26, a P/E/G ratio of 1.36 and a beta of 0.11.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, topping analysts’ consensus estimates of $2.90 by $0.34. The firm had revenue of $19.52 billion during the quarter, compared to analyst estimates of $18.79 billion. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The company’s revenue was up 32.4% on a year-over-year basis. During the same quarter last year, the business posted $1.42 EPS. As a group, equities research analysts anticipate that ConocoPhillips will post 10.55 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.6%. ConocoPhillips’s dividend payout ratio (DPR) is 44.44%.

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.