Klein Pavlis & Peasley Financial Inc. Has $1.78 Million Holdings in ConocoPhillips (NYSE:COP)

Klein Pavlis & Peasley Financial Inc. grew its position in ConocoPhillips (NYSE:COP) by 8.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 15,600 shares of the energy producer’s stock after purchasing an additional 1,200 shares during the period. ConocoPhillips comprises approximately 1.6% of Klein Pavlis & Peasley Financial Inc.’s holdings, making the stock its 22nd largest holding. Klein Pavlis & Peasley Financial Inc.’s holdings in ConocoPhillips were worth $1,784,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Cardinal Capital Management Inc. purchased a new position in ConocoPhillips during the 4th quarter worth approximately $13,468,000. Harbor Investment Advisory LLC raised its position in ConocoPhillips by 2.2% during the first quarter. Harbor Investment Advisory LLC now owns 9,697 shares of the energy producer’s stock valued at $1,234,000 after buying an additional 212 shares during the period. First Trust Direct Indexing L.P. lifted its stake in ConocoPhillips by 5.6% in the 1st quarter. First Trust Direct Indexing L.P. now owns 26,083 shares of the energy producer’s stock worth $3,320,000 after acquiring an additional 1,390 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in ConocoPhillips during the 2nd quarter worth about $30,021,000. Finally, EP Wealth Advisors LLC grew its stake in ConocoPhillips by 19.1% during the 1st quarter. EP Wealth Advisors LLC now owns 28,601 shares of the energy producer’s stock valued at $3,640,000 after acquiring an additional 4,578 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on COP. Wolfe Research started coverage on shares of ConocoPhillips in a report on Thursday, July 18th. They set an “outperform” rating and a $145.00 price target for the company. Wells Fargo & Company decreased their target price on shares of ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Raymond James restated a “strong-buy” rating and set a $159.00 price target (up from $155.00) on shares of ConocoPhillips in a report on Thursday, May 30th. StockNews.com lowered ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Truist Financial lowered their target price on ConocoPhillips from $147.00 to $145.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $143.65.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the transaction, the director now owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Performance

ConocoPhillips stock traded down $1.14 during trading hours on Tuesday, reaching $112.42. 3,521,470 shares of the company were exchanged, compared to its average volume of 5,666,034. ConocoPhillips has a 12 month low of $102.27 and a 12 month high of $135.18. The firm has a market cap of $131.48 billion, a price-to-earnings ratio of 12.73, a PEG ratio of 2.22 and a beta of 1.24. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. The stock has a 50-day moving average of $111.50 and a 200 day moving average of $117.01.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.02. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The company had revenue of $14.14 billion for the quarter, compared to the consensus estimate of $14.96 billion. During the same period last year, the business posted $1.84 earnings per share. The firm’s revenue was up 9.7% compared to the same quarter last year. As a group, research analysts anticipate that ConocoPhillips will post 8.64 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The business also recently announced 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. This represents a $2.32 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Monday, August 12th. ConocoPhillips’s dividend payout ratio (DPR) is currently 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.