ConocoPhillips (NYSE:COP) Stock Holdings Boosted by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC boosted its position in ConocoPhillips (NYSE:COP) by 35.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,944 shares of the energy producer’s stock after purchasing an additional 3,419 shares during the quarter. Transcend Capital Advisors LLC’s holdings in ConocoPhillips were worth $1,481,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of COP. Cooksen Wealth LLC acquired a new stake in ConocoPhillips in the fourth quarter worth about $27,000. Sachetta LLC acquired a new stake in shares of ConocoPhillips in the 4th quarter worth approximately $27,000. Richardson Capital Management LLC bought a new position in shares of ConocoPhillips in the first quarter valued at approximately $31,000. Cape Investment Advisory Inc. increased its stake in shares of ConocoPhillips by 96.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 121 shares during the period. Finally, Ruedi Wealth Management Inc. raised its holdings in ConocoPhillips by 150.0% during the first quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock worth $32,000 after purchasing an additional 150 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Stock Down 0.8 %

ConocoPhillips stock traded down $0.83 during trading hours on Monday, hitting $104.94. The company had a trading volume of 3,407,839 shares, compared to its average volume of 5,648,569. The firm’s fifty day moving average is $112.75 and its 200-day moving average is $117.16. The firm has a market capitalization of $122.73 billion, a P/E ratio of 11.98, a price-to-earnings-growth ratio of 2.14 and a beta of 1.24. ConocoPhillips has a fifty-two week low of $102.47 and a fifty-two week high of $135.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.21.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.02. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The business had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. During the same period last year, the company earned $1.84 earnings per share. ConocoPhillips’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, research analysts forecast that ConocoPhillips will post 8.73 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, August 12th will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 2.21%. The ex-dividend date is Monday, August 12th. ConocoPhillips’s payout ratio is presently 26.27%.

Wall Street Analyst Weigh In

COP has been the subject of a number of research reports. StockNews.com lowered ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Scotiabank lowered their target price on ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Piper Sandler upped their price target on shares of ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Argus raised shares of ConocoPhillips to a “strong-buy” rating in a research note on Friday, June 7th. Finally, Raymond James reissued a “strong-buy” rating and set a $159.00 target price (up from $155.00) on shares of ConocoPhillips in a research note on Thursday, May 30th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $143.06.

About ConocoPhillips

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.