Cvfg LLC Takes $1.03 Million Position in ConocoPhillips $COP

Cvfg LLC bought a new position in ConocoPhillips (NYSE:COP) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 7,780 shares of the energy producer’s stock, valued at approximately $1,027,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in shares of ConocoPhillips in the 4th quarter worth $25,000. KERR FINANCIAL PLANNING Corp purchased a new stake in ConocoPhillips during the third quarter valued at $28,000. Board of the Pension Protection Fund purchased a new stake in ConocoPhillips during the fourth quarter valued at $28,000. Strive Asset Management LLC purchased a new stake in ConocoPhillips during the third quarter valued at $28,000. Finally, BNP Paribas bought a new position in ConocoPhillips in the second quarter valued at about $33,000. Institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on COP. Raymond James Financial lowered their price objective on shares of ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating on the stock in a research note on Monday, June 1st. Truist Financial reduced their target price on shares of ConocoPhillips from $128.00 to $115.00 and set a “hold” rating for the company in a report on Wednesday. Weiss Ratings reiterated a “hold (c)” rating on shares of ConocoPhillips in a research report on Wednesday, June 3rd. Freedom Capital cut shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 6th. Finally, BMO Capital Markets cut their price objective on shares of ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. Eighteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and an average target price of $134.04.

Key Headlines Impacting ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Crude oil prices surged after escalating Middle East conflict and shipping disruptions, lifting sentiment on COP because higher oil prices can translate into stronger upstream earnings and cash flow. Why ConocoPhillips Stock Is Rising Wednesday
• Positive Sentiment: ConocoPhillips was highlighted as trading below fair value in a valuation-focused article, suggesting some investors still see upside if oil prices remain elevated. Is ConocoPhillips (COP) Still Below Fair Value After Oil Prices Jumped?
• Positive Sentiment: Evercore ISI reportedly maintained a buy rating on COP, reinforcing a constructive analyst view despite recent volatility. Conocophillips (COP) Receives a Buy from Evercore ISI
• Neutral Sentiment: Truist lowered its price target to $115 from $128 and kept a hold rating, which is a modest headwind but still implies limited upside from current levels. Benzinga analyst update
• Neutral Sentiment: Recent index-related buying and broad energy-stock enthusiasm have also helped support the shares, but these factors are secondary to the oil-price move. How Investors May Respond To ConocoPhillips (COP) Shelf Moves Amid Index Shift And Oil Shock

ConocoPhillips Stock Up 2.0%

Shares of COP opened at $110.58 on Thursday. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. The business’s 50 day moving average is $114.85 and its 200 day moving average is $112.57. ConocoPhillips has a 12-month low of $85.57 and a 12-month high of $135.87. The company has a market capitalization of $134.71 billion, a PE ratio of 18.77, a price-to-earnings-growth ratio of 1.26 and a beta of 0.12.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, topping the consensus estimate of $1.72 by $0.17. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The business had revenue of $15.76 billion for the quarter, compared to analysts’ expectations of $15.62 billion. During the same quarter in the previous year, the company earned $2.09 EPS. The business’s quarterly revenue was down 6.1% compared to the same quarter last year. Research analysts expect that ConocoPhillips will post 9.57 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Monday, May 11th. ConocoPhillips’s dividend payout ratio is currently 57.05%.

ConocoPhillips Company Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.