ConocoPhillips (NYSE:COP) Shares Bought by OneAscent Wealth Management LLC

OneAscent Wealth Management LLC raised its position in shares of ConocoPhillips (NYSE:COP) by 22.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,694 shares of the energy producer’s stock after buying an additional 683 shares during the period. OneAscent Wealth Management LLC’s holdings in ConocoPhillips were worth $389,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Bahl & Gaynor Inc. boosted its position in ConocoPhillips by 12.0% in the 1st quarter. Bahl & Gaynor Inc. now owns 4,043 shares of the energy producer’s stock valued at $515,000 after buying an additional 434 shares during the period. Lake Street Advisors Group LLC boosted its holdings in ConocoPhillips by 110.7% in the first quarter. Lake Street Advisors Group LLC now owns 7,853 shares of the energy producer’s stock valued at $1,000,000 after purchasing an additional 4,126 shares during the period. National Bank of Canada FI grew its stake in ConocoPhillips by 42.1% during the 1st quarter. National Bank of Canada FI now owns 417,952 shares of the energy producer’s stock worth $50,952,000 after purchasing an additional 123,754 shares in the last quarter. Pitcairn Co. increased its holdings in ConocoPhillips by 2.2% during the 1st quarter. Pitcairn Co. now owns 15,235 shares of the energy producer’s stock worth $1,939,000 after purchasing an additional 328 shares during the period. Finally, InterOcean Capital Group LLC raised its position in ConocoPhillips by 7.4% in the 1st quarter. InterOcean Capital Group LLC now owns 7,299 shares of the energy producer’s stock valued at $929,000 after purchasing an additional 500 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Susquehanna boosted their price objective on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $126.00 price target (down previously from $139.00) on shares of ConocoPhillips in a report on Friday, October 11th. Scotiabank dropped their price objective on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 price objective on shares of ConocoPhillips in a research report on Friday, September 13th. Finally, Wells Fargo & Company reissued a “sector perform” rating on shares of ConocoPhillips in a report on Friday, October 18th. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.63.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $113.76 on Tuesday. The firm’s fifty day simple moving average is $108.17 and its 200-day simple moving average is $111.53. ConocoPhillips has a 12 month low of $101.29 and a 12 month high of $135.18. The stock has a market capitalization of $130.93 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 0.92 and a beta of 1.21. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16.

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

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, November 8th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.74%. ConocoPhillips’s dividend payout ratio is currently 37.10%.

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.