Ascent Group LLC Buys 10,716 Shares of ConocoPhillips (NYSE:COP)

Ascent Group LLC increased its holdings in ConocoPhillips (NYSE:COP) by 142.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,256 shares of the energy producer’s stock after purchasing an additional 10,716 shares during the quarter. Ascent Group LLC’s holdings in ConocoPhillips were worth $2,324,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. West Branch Capital LLC increased its stake in ConocoPhillips by 87.8% in the 4th quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after buying an additional 108 shares during the last quarter. Sachetta LLC bought a new position in ConocoPhillips in the 4th quarter valued at $27,000. Cooksen Wealth LLC bought a new stake in shares of ConocoPhillips during the 4th quarter worth $27,000. Cape Investment Advisory Inc. lifted its holdings in shares of ConocoPhillips by 96.0% during the 4th quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock worth $29,000 after acquiring an additional 121 shares during the last quarter. Finally, Richardson Capital Management LLC bought a new stake in shares of ConocoPhillips during the 1st quarter worth $31,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Down 1.5 %

Shares of ConocoPhillips stock traded down $1.71 during trading hours on Monday, reaching $109.15. The stock had a trading volume of 4,625,795 shares, compared to its average volume of 5,580,896. The firm has a 50 day simple moving average of $113.75 and a two-hundred day simple moving average of $117.21. The firm has a market capitalization of $127.65 billion, a price-to-earnings ratio of 12.36, a P/E/G ratio of 2.19 and a beta of 1.24. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 1 year low of $105.77 and a 1 year high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, May 2nd. The energy producer reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.04. The firm had revenue of $14.48 billion during the quarter, compared to analyst estimates of $14.72 billion. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. As a group, equities research analysts anticipate that ConocoPhillips will post 8.73 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend was Friday, May 10th. ConocoPhillips’s payout ratio is currently 26.27%.

Wall Street Analysts Forecast Growth

COP has been the topic of a number of analyst reports. Royal Bank of Canada boosted their price objective on shares of ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, May 15th. Barclays increased their price objective on shares of ConocoPhillips from $158.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Scotiabank reduced their price objective on shares of ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. Piper Sandler increased their price objective on shares of ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Finally, Truist Financial dropped their target price on shares of ConocoPhillips from $165.00 to $147.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $143.24.

ConocoPhillips Company Profile

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.