ConocoPhillips $COP Shares Purchased by McAlvany Wealth Management LLC

McAlvany Wealth Management LLC boosted its position in shares of ConocoPhillips (NYSE:COP) by 60.6% during the first quarter, Holdings Channel.com reports. The firm owned 48,071 shares of the energy producer’s stock after buying an additional 18,143 shares during the quarter. ConocoPhillips makes up approximately 4.0% of McAlvany Wealth Management LLC’s portfolio, making the stock its 5th biggest position. McAlvany Wealth Management LLC’s holdings in ConocoPhillips were worth $6,388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Frazier Financial Advisors LLC increased its holdings in shares of ConocoPhillips by 151.0% during the 1st quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock worth $32,000 after buying an additional 145 shares during the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in ConocoPhillips in the fourth quarter valued at approximately $25,000. Evergreen Advisors LLC acquired a new position in ConocoPhillips in the first quarter valued at approximately $36,000. Strive Asset Management LLC purchased a new position in ConocoPhillips in the third quarter worth approximately $28,000. Finally, Board of the Pension Protection Fund purchased a new position in ConocoPhillips in the fourth quarter worth approximately $28,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Trending Headlines about ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips agreed to acquire a 42% stake in BP’s Iraq venture, increasing its exposure to the Kirkuk oilfields and more than 3 billion barrels of recoverable resources. Reuters article
• Positive Sentiment: The company’s Iraq agreement is part of a broader wave of U.S. corporate commitments to support Iraqi energy development, which may signal additional international growth potential. Financial Post article
• Positive Sentiment: Energy shares were broadly stronger, helping support ConocoPhillips alongside a sector-wide move higher. Yahoo Finance article
• Neutral Sentiment: Several reports noted that COP tends to move with crude oil prices, so commodity trends remain an important near-term driver for the stock. Kalkine Media article

Wall Street Analyst Weigh In

COP has been the topic of a number of research analyst reports. Citigroup lifted their target price on ConocoPhillips from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Truist Financial lowered their price target on ConocoPhillips from $128.00 to $115.00 and set a “hold” rating for the company in a report on Wednesday, July 8th. Capital One Financial cut their price objective on ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating for the company in a research report on Monday, May 18th. Mizuho reduced their price objective on shares of ConocoPhillips from $150.00 to $146.00 and set an “outperform” rating on the stock in a report on Tuesday, July 7th. Finally, The Goldman Sachs Group reduced their price objective on shares of ConocoPhillips from $144.00 to $138.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Eighteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus price target of $134.04.

ConocoPhillips Stock Up 1.6%

ConocoPhillips stock opened at $114.70 on Friday. The company has a market capitalization of $139.74 billion, a PE ratio of 19.47, a price-to-earnings-growth ratio of 1.36 and a beta of 0.12. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. ConocoPhillips has a fifty-two week low of $85.57 and a fifty-two week high of $135.87. The firm has a 50 day moving average price of $113.48 and a 200 day moving average price of $113.37.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The company had revenue of $15.76 billion for the quarter, compared to analysts’ expectations of $15.62 billion. During the same period in the prior year, the firm earned $2.09 earnings per share. The firm’s revenue was down 6.1% compared to the same quarter last year. Research analysts expect that ConocoPhillips will post 9.2 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Monday, May 11th. ConocoPhillips’s payout ratio is currently 57.05%.

About ConocoPhillips

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.