Silver Oak Securities Incorporated Has $1.09 Million Stock Position in ConocoPhillips $COP

Silver Oak Securities Incorporated increased its stake in shares of ConocoPhillips (NYSE:COP) by 183.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,248 shares of the energy producer’s stock after acquiring an additional 5,343 shares during the period. Silver Oak Securities Incorporated’s holdings in ConocoPhillips were worth $1,089,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Blue Trust Inc. boosted its holdings in shares of ConocoPhillips by 0.4% in the 1st quarter. Blue Trust Inc. now owns 21,144 shares of the energy producer’s stock valued at $2,791,000 after buying an additional 92 shares during the last quarter. Nicolet Advisory Services LLC increased its holdings in ConocoPhillips by 0.9% during the fourth quarter. Nicolet Advisory Services LLC now owns 10,352 shares of the energy producer’s stock worth $989,000 after buying an additional 95 shares during the last quarter. Duncan Williams Asset Management LLC increased its holdings in ConocoPhillips by 4.4% during the fourth quarter. Duncan Williams Asset Management LLC now owns 2,370 shares of the energy producer’s stock worth $222,000 after buying an additional 100 shares during the last quarter. Wedge Capital Management L L P NC raised its position in ConocoPhillips by 4.1% during the fourth quarter. Wedge Capital Management L L P NC now owns 2,570 shares of the energy producer’s stock worth $241,000 after acquiring an additional 101 shares in the last quarter. Finally, Strategic Blueprint LLC raised its position in ConocoPhillips by 1.3% during the fourth quarter. Strategic Blueprint LLC now owns 8,018 shares of the energy producer’s stock worth $751,000 after acquiring an additional 101 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Price Performance

NYSE:COP opened at $106.33 on Friday. The company has a market cap of $129.55 billion, a P/E ratio of 18.05, a P/E/G ratio of 1.18 and a beta of 0.11. The firm’s fifty day moving average price is $117.55 and its two-hundred day moving average price is $111.85. ConocoPhillips has a one year low of $85.57 and a one year high of $135.87. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, topping the consensus estimate of $1.72 by $0.17. The business had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. ConocoPhillips’s revenue was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.09 EPS. Equities analysts expect that ConocoPhillips will post 10.03 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 11th were given a dividend of $0.84 per share. The ex-dividend date was Monday, May 11th. This represents a $3.36 annualized dividend and a yield of 3.2%. ConocoPhillips’s dividend payout ratio (DPR) is 57.05%.

Key ConocoPhillips News

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Roth Capital upgraded ConocoPhillips to Buy from Neutral, which can support investor confidence in the stock. Roth Capital Upgrades ConocoPhillips (COP) to Buy. Here is Why
• Positive Sentiment: ConocoPhillips was named to RBC Capital’s June Global Energy Best Ideas list, reinforcing the view that analysts see upside potential in the name. ConocoPhillips (COP) Named to RBC Capital’s June Global Energy Best Ideas List
• Neutral Sentiment: The company announced it will host its second-quarter earnings conference call on Aug. 6, keeping attention on upcoming results and guidance. ConocoPhillips to hold second-quarter earnings conference call on Thursday, Aug. 6
• Negative Sentiment: Broader oil-and-gas shares fell after crude dropped to its lowest level since the start of the Iran conflict, as easing geopolitical risk and resumed tanker traffic pressured oil prices and upstream producers like COP. TechnipFMC and Valaris Shares Plummet, What You Need To Know

Insider Activity

In other news, CEO Ryan Michael Lance sold 113,221 shares of the business’s stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $132.71, for a total transaction of $15,025,558.91. Following the completion of the sale, the chief executive officer owned 350,000 shares in the company, valued at $46,448,500. The trade was a 24.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on COP. Royal Bank Of Canada set a $130.00 price objective on shares of ConocoPhillips in a research report on Monday. Piper Sandler upped their target price on shares of ConocoPhillips from $154.00 to $157.00 and gave the company an “overweight” rating in a report on Wednesday, April 8th. BMO Capital Markets cut their target price on shares of ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. UBS Group lifted their price target on ConocoPhillips from $130.00 to $144.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. Finally, Barclays boosted their price target on ConocoPhillips from $136.00 to $155.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Eighteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $134.32.

ConocoPhillips 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.