Catalyst Capital Advisors LLC Acquires 500 Shares of ConocoPhillips $COP

Catalyst Capital Advisors LLC boosted its holdings in shares of ConocoPhillips (NYSE:COP) by 16.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 3,555 shares of the energy producer’s stock after purchasing an additional 500 shares during the period. Catalyst Capital Advisors LLC’s holdings in ConocoPhillips were worth $319,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its position in ConocoPhillips by 379.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer’s stock valued at $4,210,751,000 after acquiring an additional 31,736,423 shares in the last quarter. Wellington Management Group LLP raised its position in ConocoPhillips by 1.4% during the first quarter. Wellington Management Group LLP now owns 31,610,608 shares of the energy producer’s stock valued at $3,319,746,000 after acquiring an additional 437,709 shares in the last quarter. Goldman Sachs Group Inc. raised its position in ConocoPhillips by 30.2% during the first quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock valued at $942,297,000 after acquiring an additional 2,080,625 shares in the last quarter. Ameriprise Financial Inc. raised its position in ConocoPhillips by 15.1% during the first quarter. Ameriprise Financial Inc. now owns 8,202,861 shares of the energy producer’s stock valued at $861,490,000 after acquiring an additional 1,073,906 shares in the last quarter. Finally, Nuveen LLC bought a new position in ConocoPhillips during the first quarter valued at approximately $658,981,000. Institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on COP. Roth Capital dropped their price target on shares of ConocoPhillips from $108.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, October 15th. Wells Fargo & Company began coverage on shares of ConocoPhillips in a research report on Friday, October 17th. They issued an “equal weight” rating and a $100.00 price target on the stock. Piper Sandler dropped their price target on shares of ConocoPhillips from $124.00 to $115.00 and set an “overweight” rating on the stock in a research report on Monday, October 13th. Wall Street Zen lowered shares of ConocoPhillips from a “hold” rating to a “sell” rating in a research report on Saturday, October 18th. Finally, JPMorgan Chase & Co. lifted their price target on shares of ConocoPhillips from $114.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, October 9th. Eighteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus target price of $115.63.

ConocoPhillips Trading Down 2.3%

Shares of COP stock opened at $88.01 on Friday. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $115.38. The firm’s fifty day simple moving average is $93.32 and its 200 day simple moving average is $91.92. The firm has a market capitalization of $109.92 billion, a P/E ratio of 11.81, a price-to-earnings-growth ratio of 2.40 and a beta of 0.62. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The business had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. During the same quarter in the previous year, the firm posted $1.98 earnings per share. ConocoPhillips’s revenue was up 4.3% compared to the same quarter last year. As a group, sell-side analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a yield of 3.5%. ConocoPhillips’s payout ratio is 41.88%.

About ConocoPhillips

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.