TFB Advisors LLC Makes New $320,000 Investment in ConocoPhillips (NYSE:COP)

TFB Advisors LLC purchased a new stake in ConocoPhillips (NYSE:COP) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,573 shares of the energy producer’s stock, valued at approximately $320,000.

Other hedge funds have also recently made changes to their positions in the company. Mediolanum International Funds Ltd bought a new stake in ConocoPhillips during the first quarter valued at approximately $47,280,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its position in ConocoPhillips by 3.6% in the first quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 39,480 shares of the energy producer’s stock worth $5,025,000 after acquiring an additional 1,379 shares in the last quarter. AA Financial Advisors LLC purchased a new position in ConocoPhillips in the first quarter worth $922,000. United Community Bank raised its position in ConocoPhillips by 3.6% during the first quarter. United Community Bank now owns 3,000 shares of the energy producer’s stock valued at $382,000 after purchasing an additional 103 shares in the last quarter. Finally, Comprehensive Financial Consultants Institutional Inc. raised its position in ConocoPhillips by 6.8% during the first quarter. Comprehensive Financial Consultants Institutional Inc. now owns 2,098 shares of the energy producer’s stock valued at $267,000 after purchasing an additional 133 shares in the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on COP shares. Bank of America reiterated a “buy” rating and set a $147.00 price objective on shares of ConocoPhillips in a research report on Friday, June 14th. Argus upgraded shares of ConocoPhillips to a “strong-buy” rating in a report on Friday, June 7th. Morgan Stanley lifted their target price on shares of ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Royal Bank of Canada raised their price objective on ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, May 15th. Finally, Piper Sandler raised their price objective on ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy 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 $145.69.

ConocoPhillips Stock Performance

Shares of COP traded up $1.34 during mid-day trading on Wednesday, hitting $112.53. 3,867,697 shares of the company traded hands, compared to its average volume of 5,592,497. The stock has a market cap of $131.61 billion, a price-to-earnings ratio of 12.61, a P/E/G ratio of 2.00 and a beta of 1.23. The stock has a 50-day moving average price of $116.08 and a two-hundred day moving average price of $117.49. ConocoPhillips has a 1 year low of $104.85 and a 1 year high of $135.18. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.21 and a current ratio of 1.35.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.04. The business had revenue of $14.48 billion during the quarter, compared to analyst estimates of $14.72 billion. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. Equities analysts anticipate that ConocoPhillips will post 8.89 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend was Friday, May 10th. ConocoPhillips’s dividend payout ratio is 26.27%.

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.