Schrum Private Wealth Management LLC Buys 344 Shares of ConocoPhillips (NYSE:COP)

Schrum Private Wealth Management LLC increased its position in ConocoPhillips (NYSE:COP) by 9.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,948 shares of the energy producer’s stock after acquiring an additional 344 shares during the quarter. Schrum Private Wealth Management LLC’s holdings in ConocoPhillips were worth $416,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in COP. Values First Advisors Inc. purchased a new stake in ConocoPhillips during the 3rd quarter worth about $26,000. Stephens Consulting LLC raised its stake in shares of ConocoPhillips by 69.3% during the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after acquiring an additional 104 shares in the last quarter. Reston Wealth Management LLC purchased a new position in shares of ConocoPhillips in the third quarter worth about $31,000. Y.D. More Investments Ltd bought a new stake in shares of ConocoPhillips in the 2nd quarter valued at about $35,000. Finally, Fairway Wealth LLC boosted its stake in shares of ConocoPhillips by 95.6% during the second quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock valued at $36,000 after purchasing an additional 153 shares during the period. 82.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Truist Financial decreased their target price on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. StockNews.com cut shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Wells Fargo & Company reiterated a “sector perform” rating on shares of ConocoPhillips in a report on Friday, October 18th. Sanford C. Bernstein reduced their price target on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Finally, Mizuho upped their price target on ConocoPhillips from $129.00 to $132.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus price target of $137.47.

ConocoPhillips Stock Down 0.3 %

ConocoPhillips stock traded down $0.30 on Wednesday, hitting $110.34. 1,059,763 shares of the stock traded hands, compared to its average volume of 5,875,084. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18. The firm has a market cap of $126.99 billion, a P/E ratio of 13.16, a price-to-earnings-growth ratio of 0.91 and a beta of 1.21. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. The business’s fifty day simple moving average is $107.71 and its 200 day simple moving average is $111.90.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. The company had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. ConocoPhillips’s revenue was down 8.5% on a year-over-year basis. During the same period last year, the company posted $2.16 EPS. As a group, sell-side analysts forecast that ConocoPhillips will post 7.8 earnings per share for the current year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be paid a $0.78 dividend. The ex-dividend date is Friday, November 8th. This represents a $3.12 annualized dividend and a dividend yield of 2.83%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is presently 37.10%.

About ConocoPhillips

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.