ConocoPhillips $COP Stake Raised by Simon Quick Advisors LLC

by · The Cerbat Gem

Simon Quick Advisors LLC grew its holdings in shares of ConocoPhillips (NYSE:COP – Free Report) by 38.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,362 shares of the energy producer’s stock after buying an additional 2,599 shares during the period. Simon Quick Advisors LLC’s holdings in ConocoPhillips were worth $840,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its holdings in shares of ConocoPhillips by 379.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer’s stock valued at $4,210,751,000 after buying an additional 31,736,423 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of ConocoPhillips by 1.4% during the first quarter. Wellington Management Group LLP now owns 31,610,608 shares of the energy producer’s stock valued at $3,319,746,000 after acquiring an additional 437,709 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of ConocoPhillips by 30.2% during the first quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock valued at $942,297,000 after acquiring an additional 2,080,625 shares during the period. Ameriprise Financial Inc. increased its stake in shares of ConocoPhillips by 15.1% during the first quarter. Ameriprise Financial Inc. now owns 8,202,861 shares of the energy producer’s stock valued at $861,490,000 after acquiring an additional 1,073,906 shares during the period. Finally, Nuveen LLC acquired a new position in shares of ConocoPhillips during the first quarter valued at approximately $658,981,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Up 1.0%

ConocoPhillips stock opened at $88.99 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. The firm has a market cap of $111.14 billion, a price-to-earnings ratio of 11.94, a price-to-earnings-growth ratio of 2.36 and a beta of 0.62. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $115.38. The firm’s 50 day moving average price is $92.66 and its two-hundred day moving average price is $91.99.

ConocoPhillips (NYSE:COP – Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.06. The firm had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.98 earnings per share. On average, research analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were paid a $0.78 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a yield of 3.5%. ConocoPhillips’s dividend payout ratio (DPR) is currently 41.88%.

Analyst Ratings Changes

A number of research firms recently commented on COP. Wolfe Research lowered their price objective on shares of ConocoPhillips from $137.00 to $130.00 and set an “outperform” rating on the stock in a research note on Monday, October 20th. Royal Bank Of Canada raised their price objective on shares of ConocoPhillips from $113.00 to $118.00 and gave the company an “outperform” rating in a research note on Monday, October 13th. Piper Sandler lowered their price objective on shares of ConocoPhillips from $124.00 to $115.00 and set an “overweight” rating on the stock in a research note on Monday, October 13th. Evercore ISI lowered their price objective on shares of ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating on the stock in a research note on Monday, October 6th. Finally, BMO Capital Markets raised their price objective on shares of ConocoPhillips from $115.00 to $117.00 and gave the company an “outperform” rating in a research note on Monday, October 13th. Eighteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $115.63.

Get Our Latest Stock Analysis on ConocoPhillips

ConocoPhillips Profile

(Free Report)

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.

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