Probity Advisors Inc. acquired a new position in ConocoPhillips (NYSE:COP) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 10,921 shares of the energy producer’s stock, valued at approximately $579,000.

Several other institutional investors and hedge funds have also made changes to their positions in COP. Edge Wealth Management LLC bought a new stake in shares of ConocoPhillips in the 1st quarter worth approximately $26,000. Regent Peak Wealth Advisors LLC bought a new stake in shares of ConocoPhillips in the 4th quarter worth approximately $29,000. Klaas Financial Asset Advisors LLC bought a new stake in shares of ConocoPhillips in the 4th quarter worth approximately $31,000. Atwood & Palmer Inc. purchased a new position in shares of ConocoPhillips in the first quarter worth $31,000. Finally, Accel Wealth Management purchased a new position in shares of ConocoPhillips in the fourth quarter worth $35,000. Hedge funds and other institutional investors own 72.87% of the company’s stock.

Shares of ConocoPhillips stock opened at $52.74 on Tuesday. ConocoPhillips has a 52 week low of $27.53 and a 52 week high of $61.14. The business’s fifty day simple moving average is $52.50 and its 200-day simple moving average is $44.87. The firm has a market cap of $71.31 billion, a PE ratio of -46.67, a price-to-earnings-growth ratio of 10.03 and a beta of 1.85. The company has a quick ratio of 2.16, a current ratio of 2.38 and a debt-to-equity ratio of 0.48.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Monday, February 1st. The energy producer reported ($0.19) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.25) by $0.06. ConocoPhillips had a negative return on equity of 0.02% and a negative net margin of 5.66%. The business had revenue of $6.05 billion for the quarter, compared to analyst estimates of $4.69 billion. During the same quarter in the prior year, the company posted $0.76 EPS. As a group, equities analysts expect that ConocoPhillips will post -0.9 earnings per share for the current year.

Several brokerages recently commented on COP. JPMorgan Chase & Co. began coverage on shares of ConocoPhillips in a research note on Tuesday, January 19th. They issued a “neutral” rating on the stock. Piper Sandler lifted their target price on shares of ConocoPhillips from $50.00 to $69.00 and gave the stock an “overweight” rating in a research note on Thursday, April 1st. Truist Securities lifted their target price on shares of ConocoPhillips from $50.00 to $60.00 in a research note on Monday, April 19th. The Goldman Sachs Group began coverage on shares of ConocoPhillips in a research note on Wednesday, February 3rd. They issued a “buy” rating on the stock. Finally, Zacks Investment Research downgraded shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating and set a $53.00 price objective on the stock. in a research report on Tuesday, April 27th. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. ConocoPhillips presently has an average rating of “Buy” and a consensus price target of $55.57.

About ConocoPhillips

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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