ConocoPhillips $COP Shares Acquired by Bleakley Financial Group LLC

Bleakley Financial Group LLC lifted its stake in shares of ConocoPhillips (NYSE:COP) by 15.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,756 shares of the energy producer’s stock after purchasing an additional 4,794 shares during the quarter. Bleakley Financial Group LLC’s holdings in ConocoPhillips were worth $4,720,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of COP. Concurrent Investment Advisors LLC grew its position in shares of ConocoPhillips by 31.2% in the fourth quarter. Concurrent Investment Advisors LLC now owns 86,171 shares of the energy producer’s stock valued at $8,067,000 after purchasing an additional 20,501 shares during the last quarter. D.A. Davidson & CO. raised its position in shares of ConocoPhillips by 10.5% during the 4th quarter. D.A. Davidson & CO. now owns 155,662 shares of the energy producer’s stock worth $14,572,000 after purchasing an additional 14,833 shares during the last quarter. Czech National Bank lifted its stake in ConocoPhillips by 2.7% in the 4th quarter. Czech National Bank now owns 325,841 shares of the energy producer’s stock valued at $30,502,000 after buying an additional 8,635 shares in the last quarter. Assetmark Inc. grew its holdings in ConocoPhillips by 17.6% during the 4th quarter. Assetmark Inc. now owns 410,229 shares of the energy producer’s stock valued at $38,402,000 after buying an additional 61,361 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in ConocoPhillips by 6.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 282,461 shares of the energy producer’s stock valued at $27,315,000 after buying an additional 16,343 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

COP has been the subject of several recent research reports. Wolfe Research raised their price target on ConocoPhillips from $138.00 to $144.00 and gave the stock an “outperform” rating in a research report on Monday, April 6th. Susquehanna increased their price objective on ConocoPhillips from $149.00 to $152.00 in a research note on Friday, May 1st. Sanford C. Bernstein lifted their price objective on ConocoPhillips from $98.00 to $121.00 and gave the stock an “outperform” rating in a research report on Monday, April 13th. The Goldman Sachs Group cut their target price on shares of ConocoPhillips from $144.00 to $138.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Finally, Truist Financial reduced their target price on shares of ConocoPhillips from $128.00 to $115.00 and set a “hold” rating on the stock in a report on Wednesday, July 8th. Eighteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $134.04.

ConocoPhillips Stock Performance

NYSE:COP opened at $111.81 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34. The company has a market cap of $136.22 billion, a P/E ratio of 18.98, a P/E/G ratio of 1.35 and a beta of 0.12. ConocoPhillips has a fifty-two week low of $85.57 and a fifty-two week high of $135.87. The firm’s 50 day moving average is $113.65 and its two-hundred day moving average is $113.07.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. The company had revenue of $15.76 billion for the quarter, compared to analyst estimates of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. ConocoPhillips’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter last year, the business earned $2.09 EPS. Analysts expect that ConocoPhillips will post 9.27 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders 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 yield of 3.0%. The ex-dividend date of this dividend was Monday, May 11th. ConocoPhillips’s payout ratio is 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.