Waverly Advisors LLC Acquires 3,762 Shares of ConocoPhillips $COP

Waverly Advisors LLC lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 5.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 68,452 shares of the energy producer’s stock after acquiring an additional 3,762 shares during the quarter. Waverly Advisors LLC’s holdings in ConocoPhillips were worth $7,116,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Empirical Finance LLC lifted its position in shares of ConocoPhillips by 3.0% in the 2nd quarter. Empirical Finance LLC now owns 47,230 shares of the energy producer’s stock worth $4,910,000 after purchasing an additional 1,390 shares during the period. Nykredit A S purchased a new position in shares of ConocoPhillips during the second quarter valued at about $15,979,000. Range Advisory LLC raised its stake in ConocoPhillips by 21.4% in the second quarter. Range Advisory LLC now owns 2,839 shares of the energy producer’s stock worth $295,000 after buying an additional 500 shares in the last quarter. Planning Project LLC bought a new position in ConocoPhillips in the second quarter worth about $1,430,000. Finally, Cornerstone Financial Management LLC lifted its holdings in ConocoPhillips by 412.4% in the second quarter. Cornerstone Financial Management LLC now owns 661 shares of the energy producer’s stock worth $69,000 after buying an additional 532 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on COP. Royal Bank Of Canada set a $130.00 target price on ConocoPhillips in a report on Monday, June 22nd. BMO Capital Markets lowered their target price on ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Roth Capital upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and lifted their price target for the company from $124.00 to $130.00 in a research report on Monday, June 22nd. Truist Financial upped their price target on ConocoPhillips from $115.00 to $130.00 and gave the stock a “hold” rating in a research note on Monday, August 10th. Finally, Jefferies Financial Group increased their price objective on ConocoPhillips from $160.00 to $161.00 and gave the stock a “buy” rating in a report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, ConocoPhillips currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.29.

ConocoPhillips Stock Performance

Shares of COP opened at $136.69 on Thursday. The business’s fifty day simple moving average is $122.04 and its two-hundred day simple moving average is $120.02. The company has a current ratio of 1.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 12 month low of $85.57 and a 12 month high of $137.87. The company has a market cap of $164.21 billion, a price-to-earnings ratio of 18.08, a P/E/G ratio of 1.42 and a beta of 0.13.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.90 by $0.34. The business had revenue of $19.52 billion for the quarter, compared to analysts’ expectations of $18.79 billion. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The business’s revenue for the quarter was up 32.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.42 EPS. Research analysts anticipate that ConocoPhillips will post 10.54 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 17th were given a dividend of $0.84 per share. The ex-dividend date was Monday, August 17th. This represents a $3.36 dividend on an annualized basis and a yield of 2.5%. ConocoPhillips’s dividend payout ratio is 44.44%.

Insiders Place Their Bets

In related news, SVP Andrew Lundquist sold 9,487 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $135.15, for a total value of $1,282,168.05. Following the sale, the senior vice president owned 9,593 shares in the company, valued at approximately $1,296,493.95. This trade represents a 49.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.09% of the stock is currently owned by company insiders.

ConocoPhillips Profile

ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged primarily in finding, developing and producing crude oil, natural gas and natural gas liquids. The company sells its production to refiners, utilities, industrial customers and other energy market participants.

Its portfolio includes conventional and unconventional assets, with operations and development activities in the United States, including Alaska and the Lower 48, as well as Canada, Australia, Norway, Qatar and other international locations.