Savvy Advisors Inc. Acquires 3,091 Shares of ConocoPhillips $COP

Savvy Advisors Inc. increased its holdings in ConocoPhillips (NYSE:COP) by 20.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,567 shares of the energy producer’s stock after buying an additional 3,091 shares during the period. Savvy Advisors Inc.’s holdings in ConocoPhillips were worth $1,666,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Assetmark Inc. increased its holdings in shares of ConocoPhillips by 25.3% in the 2nd quarter. Assetmark Inc. now owns 360,466 shares of the energy producer’s stock valued at $32,348,000 after acquiring an additional 72,869 shares during the period. Keybank National Association OH lifted its stake in shares of ConocoPhillips by 1.9% during the 2nd quarter. Keybank National Association OH now owns 323,036 shares of the energy producer’s stock worth $28,989,000 after purchasing an additional 5,968 shares during the last quarter. Premier Path Wealth Partners LLC boosted its position in ConocoPhillips by 41.9% during the second quarter. Premier Path Wealth Partners LLC now owns 6,773 shares of the energy producer’s stock valued at $608,000 after purchasing an additional 2,001 shares in the last quarter. Arkadios Wealth Advisors grew its stake in ConocoPhillips by 2.1% in the second quarter. Arkadios Wealth Advisors now owns 41,279 shares of the energy producer’s stock valued at $3,704,000 after purchasing an additional 840 shares during the last quarter. Finally, World Investment Advisors grew its stake in ConocoPhillips by 13.3% in the second quarter. World Investment Advisors now owns 70,795 shares of the energy producer’s stock valued at $6,353,000 after purchasing an additional 8,289 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on COP. Melius assumed coverage on shares of ConocoPhillips in a research report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 price objective on the stock. Raymond James Financial lowered their target price on shares of ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating for the company in a research note on Monday, September 8th. Royal Bank Of Canada upped their price target on ConocoPhillips from $113.00 to $118.00 and gave the stock an “outperform” rating in a research report on Monday, October 13th. Piper Sandler decreased their price objective on ConocoPhillips from $124.00 to $115.00 and set an “overweight” rating for the company in a report on Monday, October 13th. Finally, Scotiabank boosted their target price on ConocoPhillips from $95.00 to $100.00 and gave the stock a “sector perform” rating in a research note on Friday, July 11th. Eighteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $115.63.

ConocoPhillips Stock Performance

Shares of COP stock opened at $88.11 on Friday. The business has a fifty day moving average of $92.81 and a 200 day moving average of $91.97. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $115.38. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. The firm has a market capitalization of $110.04 billion, a price-to-earnings ratio of 11.83, a price-to-earnings-growth ratio of 2.36 and a beta of 0.62.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The business had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. During the same period in the prior year, the company earned $1.98 earnings per share. The company’s revenue was up 4.3% on a year-over-year basis. As a group, research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders 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 dividend payout ratio (DPR) is currently 41.88%.

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.