Amova Asset Management Americas Inc. Raises Stock Holdings in ConocoPhillips $COP

Amova Asset Management Americas Inc. raised its holdings in ConocoPhillips (NYSE:COP) by 28.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,177 shares of the energy producer’s stock after purchasing an additional 4,977 shares during the period. Amova Asset Management Americas Inc.’s holdings in ConocoPhillips were worth $2,926,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in ConocoPhillips in the 4th quarter worth about $25,000. Strive Asset Management LLC acquired a new position in shares of ConocoPhillips during the third quarter valued at approximately $28,000. Frazier Financial Advisors LLC raised its holdings in shares of ConocoPhillips by 151.0% during the first quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock valued at $32,000 after acquiring an additional 145 shares during the last quarter. BNP Paribas acquired a new position in shares of ConocoPhillips during the second quarter valued at approximately $33,000. Finally, Optima Capital LLC purchased a new position in shares of ConocoPhillips in the fourth quarter valued at approximately $34,000. 82.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Roth Capital raised ConocoPhillips from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $124.00 to $130.00 in a research note on Monday, June 22nd. Truist Financial reduced their price objective on ConocoPhillips from $128.00 to $115.00 and set a “hold” rating for the company in a research note on Wednesday, July 8th. Freedom Capital lowered ConocoPhillips from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 6th. Morgan Stanley lowered their target price on shares of ConocoPhillips from $153.00 to $146.00 and set an “overweight” rating on the stock in a research note on Friday, June 26th. Finally, Capital One Financial dropped their target price on shares of ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating for the company in a report on Monday, May 18th. Eighteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $134.16.

ConocoPhillips Trading Up 1.5%

Shares of COP stock opened at $117.40 on Wednesday. ConocoPhillips has a 1-year low of $85.57 and a 1-year high of $135.87. The firm has a market cap of $143.03 billion, a PE ratio of 19.93, a price-to-earnings-growth ratio of 1.40 and a beta of 0.12. The company has a 50-day moving average of $113.48 and a two-hundred day moving average of $113.84. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The company had revenue of $15.76 billion for the quarter, compared to analyst estimates of $15.62 billion. During the same quarter in the previous year, the company earned $2.09 earnings per share. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. On average, analysts predict that ConocoPhillips will post 9.2 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were paid a dividend of $0.84 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $3.36 annualized dividend and a yield of 2.9%. ConocoPhillips’s dividend payout ratio is presently 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.