Summit Trail Advisors LLC Acquires 483 Shares of ConocoPhillips (NYSE:COP)

Summit Trail Advisors LLC lifted its position in shares of ConocoPhillips (NYSE:COP) by 2.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,070 shares of the energy producer’s stock after purchasing an additional 483 shares during the period. Summit Trail Advisors LLC’s holdings in ConocoPhillips were worth $2,534,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Values First Advisors Inc. bought a new stake in ConocoPhillips in the third quarter worth about $26,000. Stephens Consulting LLC raised its position in ConocoPhillips by 69.3% in the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after acquiring an additional 104 shares during the period. Reston Wealth Management LLC purchased a new position in shares of ConocoPhillips in the third quarter worth about $31,000. Y.D. More Investments Ltd purchased a new position in shares of ConocoPhillips in the second quarter worth about $35,000. Finally, Fairway Wealth LLC increased its stake in shares of ConocoPhillips by 95.6% in the second quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock worth $36,000 after purchasing an additional 153 shares in the last quarter. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Stock Performance

Shares of COP stock opened at $111.75 on Monday. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18. The company’s 50-day moving average is $108.91 and its 200 day moving average is $111.23. The company has a market capitalization of $128.61 billion, a price-to-earnings ratio of 13.29, a price-to-earnings-growth ratio of 0.91 and a beta of 1.21. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.97 billion. During the same quarter in the prior year, the business earned $2.16 EPS. The business’s revenue for the quarter was down 8.5% compared to the same quarter last year. Sell-side analysts expect that ConocoPhillips will post 7.78 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be issued a dividend of $0.78 per share. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date is Friday, November 8th. ConocoPhillips’s dividend payout ratio (DPR) is 37.10%.

Wall Street Analysts Forecast Growth

COP has been the subject of several recent research reports. Scotiabank reduced their target price on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Barclays lifted their target price on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. BMO Capital Markets boosted their price objective on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Truist Financial reduced their price objective on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Finally, Mizuho boosted their price objective on shares of ConocoPhillips from $129.00 to $132.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus price target of $137.63.

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.