ConocoPhillips (NYSE:COP) Shares Acquired by Cetera Advisors LLC

Cetera Advisors LLC lifted its position in shares of ConocoPhillips (NYSE:COP) by 50.5% during the first quarter, Holdings Channel reports. The firm owned 68,844 shares of the energy producer’s stock after acquiring an additional 23,115 shares during the quarter. Cetera Advisors LLC’s holdings in ConocoPhillips were worth $8,763,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Valued Wealth Advisors LLC grew its holdings in shares of ConocoPhillips by 45.8% during the first quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock worth $33,000 after buying an additional 82 shares during the last quarter. Astoria Portfolio Advisors LLC. grew its holdings in shares of ConocoPhillips by 4.0% during the first quarter. Astoria Portfolio Advisors LLC. now owns 2,232 shares of the energy producer’s stock worth $291,000 after buying an additional 85 shares during the last quarter. Manchester Capital Management LLC grew its holdings in shares of ConocoPhillips by 22.1% during the first quarter. Manchester Capital Management LLC now owns 475 shares of the energy producer’s stock worth $60,000 after buying an additional 86 shares during the last quarter. Adirondack Trust Co. grew its holdings in shares of ConocoPhillips by 3.1% during the fourth quarter. Adirondack Trust Co. now owns 2,990 shares of the energy producer’s stock worth $336,000 after buying an additional 90 shares during the last quarter. Finally, Mayfair Advisory Group LLC grew its holdings in shares of ConocoPhillips by 3.5% during the first quarter. Mayfair Advisory Group LLC now owns 2,627 shares of the energy producer’s stock worth $334,000 after buying an additional 90 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of NYSE:COP opened at $105.77 on Friday. The business’s 50 day simple moving average is $112.75 and its 200-day simple moving average is $117.10. The firm has a market capitalization of $123.70 billion, a price-to-earnings ratio of 11.98, a price-to-earnings-growth ratio of 2.14 and a beta of 1.24. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.21. ConocoPhillips has a 12 month low of $103.98 and a 12 month high of $135.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, missing the consensus estimate of $2.06 by ($0.08). ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The firm had revenue of $14.14 billion for the quarter, compared to analysts’ expectations of $14.96 billion. During the same period last year, the firm earned $1.84 EPS. ConocoPhillips’s revenue was up 9.7% compared to the same quarter last year. As a group, equities analysts forecast that ConocoPhillips will post 8.73 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, August 12th will be given a dividend of $0.58 per share. The ex-dividend date is Monday, August 12th. This represents a $2.32 annualized dividend and a dividend yield of 2.19%. ConocoPhillips’s dividend payout ratio is currently 26.27%.

Analyst Upgrades and Downgrades

COP has been the topic of a number of research reports. Piper Sandler raised their price target on ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Sanford C. Bernstein lowered their price target on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Royal Bank of Canada lifted their price objective on ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, May 15th. StockNews.com lowered ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Argus raised ConocoPhillips to a “strong-buy” rating in a report on Friday, June 7th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, ConocoPhillips currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.06.

ConocoPhillips 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.