Maia Wealth LLC Makes New $302,000 Investment in ConocoPhillips (NYSE:COP)

Maia Wealth LLC acquired a new stake in ConocoPhillips (NYSE:COP) in the second quarter, Holdings Channel reports. The institutional investor acquired 2,636 shares of the energy producer’s stock, valued at approximately $302,000.

Several other hedge funds also recently bought and sold shares of COP. Sachetta LLC bought a new position in ConocoPhillips in the 4th quarter valued at about $27,000. Cooksen Wealth LLC bought a new position in ConocoPhillips in the fourth quarter valued at about $27,000. Cape Investment Advisory Inc. lifted its holdings 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 worth $29,000 after purchasing an additional 121 shares during the period. Richardson Capital Management LLC acquired a new stake in ConocoPhillips during the 1st quarter valued at approximately $31,000. Finally, Northwest Bank & Trust Co acquired a new position in ConocoPhillips in the fourth quarter valued at $32,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Trading Down 0.0 %

Shares of NYSE COP traded down $0.01 during trading hours on Wednesday, reaching $108.33. The stock had a trading volume of 90,602 shares, compared to its average volume of 5,678,829. ConocoPhillips has a 52-week low of $102.27 and a 52-week high of $135.18. The firm has a market cap of $126.70 billion, a price-to-earnings ratio of 12.27, a P/E/G ratio of 2.10 and a beta of 1.24. The business’s fifty day moving average price is $111.65 and its two-hundred day moving average price is $117.08. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, topping the consensus estimate of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The firm had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. During the same quarter in the previous year, the business posted $1.84 EPS. ConocoPhillips’s revenue was up 9.7% on a year-over-year basis. Analysts expect that ConocoPhillips will post 8.67 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The firm also recently announced 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. The ex-dividend date is Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a yield of 2.14%. ConocoPhillips’s dividend payout ratio is presently 26.27%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Truist Financial cut their target price on shares of ConocoPhillips from $147.00 to $145.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Susquehanna lifted their price objective on shares of ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a report on Monday, April 22nd. Royal Bank of Canada lifted their price target on ConocoPhillips from $135.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, May 15th. Scotiabank lowered their price target on shares of ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Finally, Sanford C. Bernstein cut their target price on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and an average target price of $143.53.

ConocoPhillips Profile

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.