Kestra Investment Management LLC Invests $403,000 in ConocoPhillips (NYSE:COP)

Kestra Investment Management LLC purchased a new stake in shares of ConocoPhillips (NYSE:COP) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 3,832 shares of the energy producer’s stock, valued at approximately $403,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Values First Advisors Inc. purchased a new stake in shares of ConocoPhillips in the 3rd quarter worth about $26,000. Stephens Consulting LLC grew its holdings 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 purchasing an additional 104 shares during the period. Reston Wealth Management LLC bought a new position in shares of ConocoPhillips during the third quarter valued at approximately $31,000. Truvestments Capital LLC bought a new position in shares of ConocoPhillips during the third quarter valued at approximately $31,000. Finally, Y.D. More Investments Ltd purchased a new position in shares of ConocoPhillips during the second quarter valued at approximately $35,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on COP. Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 price objective on shares of ConocoPhillips in a research report on Friday, September 13th. Truist Financial reduced their price target on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a report on Monday, September 30th. UBS Group dropped their price target on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Susquehanna raised their price objective on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research note on Friday, November 1st. Finally, Wells Fargo & Company reiterated a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $137.63.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $106.14 on Tuesday. ConocoPhillips has a 52-week low of $101.29 and a 52-week high of $135.18. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The firm’s fifty day moving average is $108.77 and its 200 day moving average is $110.72. The company has a market cap of $122.16 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 0.89 and a beta of 1.18.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. During the same period in the previous year, the firm posted $2.16 EPS. The business’s quarterly revenue was down 8.5% on a year-over-year basis. Sell-side analysts forecast that ConocoPhillips will post 7.76 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.94%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Friday, November 8th. ConocoPhillips’s dividend payout ratio (DPR) is presently 37.10%.

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.