Principal Street Partners LLC Boosts Position in ConocoPhillips (NYSE:COP)

Principal Street Partners LLC lifted its position in ConocoPhillips (NYSE:COP) by 26.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,075 shares of the energy producer’s stock after buying an additional 1,886 shares during the quarter. Principal Street Partners LLC’s holdings in ConocoPhillips were worth $990,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of COP. Values First Advisors Inc. purchased a new position in ConocoPhillips in the 3rd quarter worth $26,000. Stephens Consulting LLC grew its stake in shares of ConocoPhillips by 69.3% during the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after buying an additional 104 shares during the last quarter. Reston Wealth Management LLC purchased a new position in shares of ConocoPhillips in the third quarter worth about $31,000. Truvestments Capital LLC bought a new stake in shares of ConocoPhillips in the 3rd quarter valued at about $31,000. Finally, Y.D. More Investments Ltd bought a new position in ConocoPhillips during the 2nd quarter worth approximately $35,000. Institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Royal Bank of Canada reissued an “outperform” rating and set a $140.00 price objective on shares of ConocoPhillips in a research note on Friday, September 13th. Susquehanna upped their price target on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Truist Financial dropped their price target on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Scotiabank cut their price target on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Finally, Mizuho upped their price objective on shares of ConocoPhillips from $129.00 to $132.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus price target of $137.63.

ConocoPhillips Stock Down 0.3 %

Shares of NYSE:COP opened at $105.81 on Tuesday. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. The stock has a fifty day simple moving average of $108.92 and a two-hundred day simple moving average of $111.11. ConocoPhillips has a 12-month low of $101.29 and a 12-month high of $135.18. The stock has a market capitalization of $121.78 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 0.91 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The firm had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. During the same quarter in the previous year, the firm earned $2.16 EPS. ConocoPhillips’s quarterly revenue was down 8.5% compared to the same quarter last year. On average, research analysts anticipate that ConocoPhillips will post 7.78 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be issued a dividend of $0.78 per share. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.95%. ConocoPhillips’s dividend payout ratio is presently 37.10%.

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.