MCF Advisors LLC Purchases 1,778 Shares of ConocoPhillips (NYSE:COP)

MCF Advisors LLC grew its position in ConocoPhillips (NYSE:COP) by 375.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,251 shares of the energy producer’s stock after acquiring an additional 1,778 shares during the period. MCF Advisors LLC’s holdings in ConocoPhillips were worth $137,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Toronto Dominion Bank raised its position in ConocoPhillips by 20.6% in the 2nd quarter. Toronto Dominion Bank now owns 1,036,139 shares of the energy producer’s stock worth $63,525,000 after purchasing an additional 177,133 shares during the last quarter. Nixon Capital LLC bought a new position in ConocoPhillips in the 2nd quarter worth approximately $9,260,000. Mitchell Capital Management Co. raised its position in ConocoPhillips by 7.6% in the 2nd quarter. Mitchell Capital Management Co. now owns 19,945 shares of the energy producer’s stock worth $1,215,000 after purchasing an additional 1,410 shares during the last quarter. Avantax Planning Partners Inc. raised its position in ConocoPhillips by 2.6% in the 2nd quarter. Avantax Planning Partners Inc. now owns 7,683 shares of the energy producer’s stock worth $468,000 after purchasing an additional 196 shares during the last quarter. Finally, Gulf International Bank UK Ltd bought a new position in ConocoPhillips in the 2nd quarter worth approximately $16,884,000. Institutional investors own 78.47% of the company’s stock.

Shares of COP stock opened at $56.94 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.97 and a current ratio of 2.11. The firm’s 50-day moving average is $56.17 and its 200-day moving average is $55.98. The stock has a market cap of $76.25 billion, a price-to-earnings ratio of 49.09, a PEG ratio of 1.56 and a beta of 1.77. ConocoPhillips has a 52-week low of $27.53 and a 52-week high of $63.57.

ConocoPhillips (NYSE:COP) last issued its earnings results on Tuesday, August 3rd. The energy producer reported $1.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.17. The company had revenue of $10.21 billion for the quarter, compared to analysts’ expectations of $10.44 billion. ConocoPhillips had a net margin of 5.93% and a return on equity of 5.64%. During the same period in the prior year, the firm earned ($0.92) EPS. Sell-side analysts predict that ConocoPhillips will post 4.79 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 1st. Investors of record on Monday, July 26th were paid a $0.43 dividend. The ex-dividend date of this dividend was Friday, July 23rd. This represents a $1.72 dividend on an annualized basis and a yield of 3.02%. ConocoPhillips’s dividend payout ratio (DPR) is currently -177.32%.

A number of research firms have commented on COP. BMO Capital Markets lifted their target price on shares of ConocoPhillips from $72.00 to $76.00 and gave the stock an “outperform” rating in a report on Thursday, July 1st. Truist Securities boosted their price target on shares of ConocoPhillips from $63.00 to $77.00 and gave the company a “buy” rating in a report on Thursday, July 1st. Piper Sandler boosted their price target on shares of ConocoPhillips from $69.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, July 23rd. They noted that the move was a valuation call. Citigroup upped their target price on shares of ConocoPhillips from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, July 1st. Finally, Raymond James reduced their target price on shares of ConocoPhillips from $85.00 to $80.00 and set a “strong-buy” rating for the company in a research note on Tuesday, August 24th. Two equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, ConocoPhillips has a consensus rating of “Buy” and a consensus target price of $70.81.

In other ConocoPhillips news, Director Jody Freeman sold 3,334 shares of the stock in a transaction that occurred on Monday, June 28th. The shares were sold at an average price of $59.65, for a total transaction of $198,873.10. Following the transaction, the director now owns 8,251 shares in the company, valued at approximately $492,172.15. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director R A. Walker bought 18,000 shares of the firm’s stock in a transaction on Monday, August 9th. The shares were acquired at an average price of $55.50 per share, for a total transaction of $999,000.00. The disclosure for this purchase can be found here. 0.08% of the stock is currently owned by corporate insiders.

About ConocoPhillips

ConocoPhillips engages in the exploration, production, transportation and marketing of crude oil, bitumen, natural gas, natural gas liquids, and liquefied natural gas on a worldwide basis. It operates through the following geographical segments: Alaska; Lower 48; Canada; Europe, Middle East and North Africa; Asia Pacific; and Other International.

Further Reading: Green Investing

Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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