Amova Asset Management Americas Inc. Raises Stock Position in ConocoPhillips $COP

Amova Asset Management Americas Inc. grew its stake in shares of ConocoPhillips (NYSE:COP) by 28.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,177 shares of the energy producer’s stock after acquiring an additional 4,977 shares during the period. Amova Asset Management Americas Inc.’s holdings in ConocoPhillips were worth $2,926,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Frazier Financial Advisors LLC raised its stake in ConocoPhillips by 151.0% in the first quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock worth $32,000 after buying an additional 145 shares in the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in ConocoPhillips during the fourth quarter worth $25,000. Evergreen Advisors LLC bought a new stake in ConocoPhillips during the 1st quarter valued at $36,000. Strive Asset Management LLC bought a new stake in ConocoPhillips during the 3rd quarter valued at $28,000. Finally, Avalon Trust Co purchased a new position in shares of ConocoPhillips in the 1st quarter valued at $40,000. Institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on COP shares. The Goldman Sachs Group decreased their price objective on ConocoPhillips from $144.00 to $138.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Citigroup lifted their target price on ConocoPhillips from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. UBS Group reduced their target price on shares of ConocoPhillips from $155.00 to $143.00 and set a “buy” rating for the company in a report on Wednesday, July 8th. Freedom Capital lowered shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of ConocoPhillips in a report on Wednesday, June 3rd. Eighteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $134.16.

ConocoPhillips Trading Up 1.5%

Shares of NYSE:COP opened at $117.40 on Wednesday. ConocoPhillips has a 52-week low of $85.57 and a 52-week high of $135.87. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34. The stock has a market cap of $143.03 billion, a price-to-earnings ratio of 19.93, a PEG ratio of 1.40 and a beta of 0.12. The business has a 50-day moving average price of $113.48 and a 200-day moving average price of $113.84.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, beating the consensus estimate of $1.72 by $0.17. The business had revenue of $15.76 billion for 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%. The business’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.09 EPS. Equities analysts predict that ConocoPhillips will post 9.2 EPS for the current year.

ConocoPhillips Announces Dividend

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

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.