Zhang Financial LLC Makes New $1.70 Million Investment in ConocoPhillips $COP

Zhang Financial LLC purchased a new stake in ConocoPhillips (NYSE:COP) during the 1st quarter, Holdings Channel.com reports. The firm purchased 12,874 shares of the energy producer’s stock, valued at approximately $1,699,000.

A number of other institutional investors also recently modified their holdings of COP. Concurrent Investment Advisors LLC increased its stake in ConocoPhillips by 31.2% in the 4th quarter. Concurrent Investment Advisors LLC now owns 86,171 shares of the energy producer’s stock valued at $8,067,000 after buying an additional 20,501 shares during the last quarter. D.A. Davidson & CO. boosted its stake in shares of ConocoPhillips by 10.5% during the 4th quarter. D.A. Davidson & CO. now owns 155,662 shares of the energy producer’s stock worth $14,572,000 after buying an additional 14,833 shares during the last quarter. Czech National Bank boosted its stake in shares of ConocoPhillips by 2.7% during the 4th quarter. Czech National Bank now owns 325,841 shares of the energy producer’s stock worth $30,502,000 after buying an additional 8,635 shares during the last quarter. BXM Wealth LLC grew its holdings in shares of ConocoPhillips by 691.6% in the 4th quarter. BXM Wealth LLC now owns 40,016 shares of the energy producer’s stock valued at $3,746,000 after acquiring an additional 34,961 shares in the last quarter. Finally, Assetmark Inc. grew its holdings in shares of ConocoPhillips by 17.6% in the 4th quarter. Assetmark Inc. now owns 410,229 shares of the energy producer’s stock valued at $38,402,000 after acquiring an additional 61,361 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Up 1.6%

Shares of COP stock opened at $114.70 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. The firm’s 50-day moving average is $113.48 and its 200-day moving average is $113.37. The stock has a market cap of $139.74 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 1.39 and a beta of 0.12. ConocoPhillips has a 52-week low of $85.57 and a 52-week high of $135.87.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.17. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The business had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. During the same period last year, the business posted $2.09 EPS. ConocoPhillips’s revenue was down 6.1% on a year-over-year basis. Sell-side analysts predict that ConocoPhillips will post 9.2 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Monday, May 11th. ConocoPhillips’s dividend payout ratio (DPR) is presently 57.05%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Susquehanna upped their target price on ConocoPhillips from $149.00 to $152.00 in a report on Friday, May 1st. Weiss Ratings restated a “hold (c)” rating on shares of ConocoPhillips in a research note on Wednesday, June 3rd. Piper Sandler boosted their price target on ConocoPhillips from $154.00 to $157.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 8th. The Goldman Sachs Group dropped their price objective on ConocoPhillips from $144.00 to $138.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Finally, Truist Financial cut their price objective on ConocoPhillips from $128.00 to $115.00 and set a “hold” rating for the company in a report on Wednesday, July 8th. Eighteen 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, the company currently has an average rating of “Moderate Buy” and an average price target of $134.04.

ConocoPhillips News Summary

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

ConocoPhillips Company Profile

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.