Concord Asset Management LLC VA Raises Position in ConocoPhillips (NYSE:COP)

Concord Asset Management LLC VA lifted its stake in ConocoPhillips (NYSE:COP) by 11.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 19,091 shares of the energy producer’s stock after purchasing an additional 1,998 shares during the quarter. Concord Asset Management LLC VA’s holdings in ConocoPhillips were worth $2,010,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Values First Advisors Inc. bought a new position in ConocoPhillips during the third quarter valued at $26,000. Stephens Consulting LLC grew its holdings in ConocoPhillips by 69.3% during the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 104 shares during the last quarter. Reston Wealth Management LLC purchased a new stake in ConocoPhillips in the 3rd quarter worth about $31,000. Y.D. More Investments Ltd bought a new stake in ConocoPhillips in the second quarter worth about $35,000. Finally, Fairway Wealth LLC boosted its position 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 buying an additional 153 shares during the period. Institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

COP has been the topic of several research analyst reports. Truist Financial cut their price objective on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Susquehanna raised their price target on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. Scotiabank decreased their price objective on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Mizuho upped their target price on shares of ConocoPhillips from $129.00 to $132.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Finally, Barclays boosted their price target on ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $137.63.

ConocoPhillips Price Performance

COP stock opened at $112.32 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The firm has a market capitalization of $129.27 billion, a P/E ratio of 13.36, a P/E/G ratio of 0.92 and a beta of 1.21. The business’s 50-day moving average is $108.01 and its two-hundred day moving average is $111.68. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18.

ConocoPhillips (NYSE:COP) last posted 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. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. During the same quarter last year, the company earned $2.16 EPS. ConocoPhillips’s revenue for the quarter was down 8.5% compared to the same quarter last year. Analysts anticipate that ConocoPhillips will post 7.8 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company 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 dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date is Friday, November 8th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is currently 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.