OneAscent Financial Services LLC Takes $630,000 Position in ConocoPhillips $COP

OneAscent Financial Services LLC purchased a new position in ConocoPhillips (NYSE:COP) in the second quarter, HoldingsChannel reports. The fund purchased 6,065 shares of the energy producer’s stock, valued at approximately $630,000.

Several other large investors have also bought and sold shares of the company. Concurrent Investment Advisors LLC lifted its position in ConocoPhillips by 31.2% during the 4th quarter. Concurrent Investment Advisors LLC now owns 86,171 shares of the energy producer’s stock valued at $8,067,000 after acquiring an additional 20,501 shares during the period. D.A. Davidson & CO. boosted its stake in ConocoPhillips by 10.5% during the fourth quarter. D.A. Davidson & CO. now owns 155,662 shares of the energy producer’s stock worth $14,572,000 after acquiring an additional 14,833 shares in the last quarter. Vanguard Group Inc. grew its holdings in ConocoPhillips by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 120,251,183 shares of the energy producer’s stock worth $11,256,713,000 after purchasing an additional 408,304 shares during the period. Mach 1 Financial Group LLC purchased a new stake in ConocoPhillips in the fourth quarter worth about $1,169,000. Finally, Jennison Associates LLC increased its stake in shares of ConocoPhillips by 7.6% during the fourth quarter. Jennison Associates LLC now owns 153,240 shares of the energy producer’s stock valued at $14,345,000 after purchasing an additional 10,779 shares in the last quarter. 82.36% of the stock is owned by institutional investors.

Trending Headlines about ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Rising crude prices are supporting ConocoPhillips’ expected cash flow and earnings, providing the clearest near-term catalyst for the stock. ConocoPhillips gains as higher oil prices add to post-earnings momentum
• Positive Sentiment: Second-quarter adjusted earnings of $3.24 per share exceeded expectations, while $7.2 billion in operating cash flow, doubled share repurchases and a $0.84 quarterly dividend reinforced the company’s capital-return appeal. Full-year guidance was reaffirmed.
• Positive Sentiment: Argus raised its price target to $153 from $136 and maintained a Buy rating. The broader analyst consensus remains constructive, with a reported median target of $146 and no recent sell ratings. Argus raises ConocoPhillips price target
• Positive Sentiment: Analysts and investors continue to cite ConocoPhillips’ low-cost inventory, LNG-related growth and potential cash-flow catalysts as support for its longer-term outlook. ConocoPhillips has low-cost inventory and a major cash flow catalyst ahead
• Neutral Sentiment: Aker BP’s agreement to acquire Apache and ConocoPhillips stakes offshore Norway could streamline the portfolio, although the immediate financial effect was not specified. Aker BP to buy Apache and ConocoPhillips stakes offshore Norway
• Negative Sentiment: Valuation and execution risks are tempering the bullish outlook: the stock trades near its 52-week high, while investors are already paying a premium for earnings momentum and LNG growth. Is ConocoPhillips stock a buy as growth meets a premium valuation?
• Negative Sentiment: Insiders have reported 12 open-market sales and no purchases over the past six months, including substantial sales by senior executives. This may signal caution, although insider transactions can reflect compensation or diversification rather than a fundamental view.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on COP shares. Wall Street Zen upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Mizuho cut their price target on ConocoPhillips from $150.00 to $146.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 7th. Weiss Ratings raised ConocoPhillips from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 6th. Roth Capital upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $124.00 to $130.00 in a research note on Monday, June 22nd. Finally, Truist Financial boosted their target price on ConocoPhillips from $115.00 to $130.00 and gave the stock a “hold” rating in a report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $139.21.

ConocoPhillips Price Performance

Shares of COP opened at $135.00 on Friday. The firm has a fifty day simple moving average of $114.92 and a two-hundred day simple moving average of $117.53. The firm has a market cap of $162.18 billion, a PE ratio of 17.86, a P/E/G ratio of 1.44 and a beta of 0.11. 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 1-year low of $85.57 and a 1-year high of $135.87.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.90 by $0.34. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.The firm had revenue of $19.52 billion for the quarter, compared to the consensus estimate of $18.79 billion. During the same period last year, the business posted $1.42 EPS. The company’s revenue for the quarter was up 32.4% on a year-over-year basis. On average, equities analysts anticipate that ConocoPhillips will post 10.06 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be issued a $0.84 dividend. The ex-dividend date of this dividend is 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 currently 44.44%.

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.