Pittenger & Anderson Inc. Purchases 1,000 Shares of ConocoPhillips (NYSE:COP)

Pittenger & Anderson Inc. grew its position in ConocoPhillips (NYSE:COPGet Rating) by 60.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,651 shares of the energy producer’s stock after acquiring an additional 1,000 shares during the period. Pittenger & Anderson Inc.’s holdings in ConocoPhillips were worth $238,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of COP. Crossvault Capital Management LLC grew its holdings in ConocoPhillips by 1.7% during the 1st quarter. Crossvault Capital Management LLC now owns 6,120 shares of the energy producer’s stock worth $612,000 after acquiring an additional 100 shares during the period. Ballew Advisors Inc grew its holdings in shares of ConocoPhillips by 1.5% in the 1st quarter. Ballew Advisors Inc now owns 7,005 shares of the energy producer’s stock valued at $702,000 after buying an additional 103 shares during the period. Parkside Financial Bank & Trust grew its holdings in shares of ConocoPhillips by 2.1% in the 1st quarter. Parkside Financial Bank & Trust now owns 5,163 shares of the energy producer’s stock valued at $516,000 after buying an additional 105 shares during the period. Greenwich Wealth Management LLC grew its holdings in shares of ConocoPhillips by 2.9% in the 1st quarter. Greenwich Wealth Management LLC now owns 3,851 shares of the energy producer’s stock valued at $385,000 after buying an additional 107 shares during the period. Finally, Rosenberg Matthew Hamilton grew its holdings in shares of ConocoPhillips by 1.1% in the 1st quarter. Rosenberg Matthew Hamilton now owns 11,076 shares of the energy producer’s stock valued at $1,108,000 after buying an additional 116 shares during the period. Institutional investors own 79.66% of the company’s stock.

Insiders Place Their Bets

In other ConocoPhillips news, EVP Nicholas G. Olds sold 10,950 shares of the business’s stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $116.52, for a total value of $1,275,894.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.08% of the company’s stock.

ConocoPhillips Stock Down 0.9 %

COP opened at $110.06 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.54 and a quick ratio of 1.44. The company’s 50-day moving average is $102.42 and its 200 day moving average is $101.24. ConocoPhillips has a fifty-two week low of $62.25 and a fifty-two week high of $124.08. The firm has a market capitalization of $142.36 billion, a P/E ratio of 9.09, a PEG ratio of 0.39 and a beta of 1.31.

ConocoPhillips (NYSE:COPGet Rating) last announced its quarterly earnings data on Thursday, August 4th. The energy producer reported $3.91 EPS for the quarter, missing the consensus estimate of $3.95 by ($0.04). ConocoPhillips had a return on equity of 31.24% and a net margin of 23.10%. During the same quarter in the prior year, the business posted $1.27 earnings per share. Research analysts expect that ConocoPhillips will post 14.54 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a None dividend, which was paid on Thursday, September 1st. Investors of record on Tuesday, August 16th were paid a dividend of $1.40 per share. The ex-dividend date of this dividend was Thursday, September 29th. ConocoPhillips’s dividend payout ratio is currently 15.19%.

Analyst Upgrades and Downgrades

COP has been the subject of several research analyst reports. Bank of America boosted their price target on shares of ConocoPhillips from $134.00 to $140.00 and gave the company a “buy” rating in a report on Monday. Truist Financial decreased their price target on shares of ConocoPhillips from $126.00 to $123.00 and set a “buy” rating for the company in a report on Wednesday, July 13th. Piper Sandler boosted their price objective on shares of ConocoPhillips from $123.00 to $134.00 and gave the company an “overweight” rating in a research report on Monday, September 12th. MKM Partners boosted their price objective on shares of ConocoPhillips from $110.00 to $118.00 and gave the company a “buy” rating in a research report on Friday, August 26th. Finally, Societe Generale boosted their price objective on shares of ConocoPhillips to $127.00 in a research report on Thursday, June 9th. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.79.

ConocoPhillips Profile

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ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. 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 conventional and unconventional exploration prospects.

Further Reading

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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