PFG Advisors Buys 1,104 Shares of ConocoPhillips (NYSE:COP)

PFG Advisors grew its stake in shares of ConocoPhillips (NYSE:COPGet Rating) by 40.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,819 shares of the energy producer’s stock after acquiring an additional 1,104 shares during the period. PFG Advisors’ holdings in ConocoPhillips were worth $343,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of COP. Capital World Investors raised its stake in ConocoPhillips by 62.4% in the first quarter. Capital World Investors now owns 23,463,085 shares of the energy producer’s stock worth $2,346,309,000 after buying an additional 9,014,700 shares in the last quarter. Diamond Hill Capital Management Inc. bought a new position in ConocoPhillips in the first quarter worth approximately $702,569,000. BlackRock Inc. raised its stake in ConocoPhillips by 3.4% in the fourth quarter. BlackRock Inc. now owns 111,073,845 shares of the energy producer’s stock worth $8,017,310,000 after buying an additional 3,652,817 shares in the last quarter. Capital Research Global Investors raised its stake in ConocoPhillips by 28.2% in the first quarter. Capital Research Global Investors now owns 12,335,053 shares of the energy producer’s stock worth $1,233,506,000 after buying an additional 2,715,820 shares in the last quarter. Finally, Cowa LLC raised its stake in ConocoPhillips by 6,475.2% in the first quarter. Cowa LLC now owns 2,375,224 shares of the energy producer’s stock worth $2,383,000 after buying an additional 2,339,100 shares in the last quarter. Institutional investors own 79.66% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on COP. Piper Sandler boosted their price objective on shares of ConocoPhillips from $123.00 to $134.00 and gave the stock an “overweight” rating in a research note on Monday, September 12th. Bank of America lifted their price target on shares of ConocoPhillips from $134.00 to $140.00 and gave the stock a “buy” rating in a report on Monday. Societe Generale lifted their price target on shares of ConocoPhillips to $127.00 in a report on Thursday, June 9th. The Goldman Sachs Group cut their price target on shares of ConocoPhillips from $140.00 to $123.00 and set a “buy” rating on the stock in a report on Wednesday, June 22nd. Finally, Barclays lifted their price target on shares of ConocoPhillips from $142.00 to $153.00 and gave the stock an “overweight” rating in a report on Wednesday, August 31st. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.79.

Insiders Place Their Bets

In other ConocoPhillips news, EVP Nicholas G. Olds sold 10,950 shares of the company’s stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $116.52, for a total value of $1,275,894.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.08% of the company’s stock.

ConocoPhillips Trading Down 0.9 %

NYSE COP opened at $110.06 on Friday. The company has a market capitalization of $142.36 billion, a PE ratio of 9.09, a P/E/G ratio of 0.39 and a beta of 1.31. The company has a fifty day moving average of $102.42 and a 200 day moving average of $101.24. ConocoPhillips has a 1 year low of $62.25 and a 1 year high of $124.08. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.54 and a quick ratio of 1.44.

ConocoPhillips (NYSE:COPGet Rating) last posted its earnings results on Thursday, August 4th. The energy producer reported $3.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.95 by ($0.04). ConocoPhillips had a net margin of 23.10% and a return on equity of 31.24%. During the same quarter last year, the company earned $1.27 EPS. Research analysts forecast that ConocoPhillips will post 14.54 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently disclosed a None dividend, which was paid on Thursday, September 1st. Shareholders of record on Tuesday, August 16th were given a $1.40 dividend. The ex-dividend date of this dividend was Thursday, September 29th. ConocoPhillips’s dividend payout ratio (DPR) is currently 15.19%.

ConocoPhillips Profile

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ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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