Shufro Rose & Co. LLC Increases Stake in ConocoPhillips (NYSE:COP)

Shufro Rose & Co. LLC increased its position in ConocoPhillips (NYSE:COP) by 8.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 14,811 shares of the energy producer’s stock after acquiring an additional 1,195 shares during the quarter. Shufro Rose & Co. LLC’s holdings in ConocoPhillips were worth $1,555,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. 10Elms LLP purchased a new stake in ConocoPhillips in the 4th quarter worth about $28,000. Garde Capital Inc. purchased a new stake in ConocoPhillips in the 1st quarter worth about $35,000. IMA Advisory Services Inc. purchased a new stake in ConocoPhillips in the 1st quarter worth about $37,000. Fourth Dimension Wealth LLC purchased a new stake in ConocoPhillips in the 4th quarter worth about $39,000. Finally, MorganRosel Wealth Management LLC purchased a new stake in ConocoPhillips in the 1st quarter worth about $42,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

COP has been the subject of several analyst reports. Barclays cut their target price on ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Piper Sandler restated an “overweight” rating and issued a $123.00 target price (up previously from $113.00) on shares of ConocoPhillips in a research note on Tuesday, July 15th. Scotiabank raised their target price on ConocoPhillips from $95.00 to $100.00 and gave the stock a “sector perform” rating in a research note on Friday, July 11th. Raymond James Financial raised their target price on ConocoPhillips from $109.00 to $117.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 22nd. Finally, Bank of America cut their target price on ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating for the company in a research note on Friday, May 23rd. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus target price of $121.33.

Insiders Place Their Bets

In other news, EVP Kirk L. Johnson bought 5,300 shares of the company’s stock in a transaction that occurred on Monday, June 16th. The stock was bought at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the transaction, the executive vice president directly owned 14,527 shares of the company’s stock, valued at $1,369,024.48. This represents a 57.44% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.24% of the stock is owned by insiders.

ConocoPhillips Stock Down 1.4%

COP stock opened at $95.32 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.13 and a debt-to-equity ratio of 0.36. The company’s 50 day moving average is $91.82 and its 200 day moving average is $94.23. The stock has a market cap of $120.50 billion, a price-to-earnings ratio of 12.11, a price-to-earnings-growth ratio of 2.52 and a beta of 0.61. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $116.08.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.04. The company had revenue of $16.18 billion for the quarter, compared to analysts’ expectations of $15.74 billion. ConocoPhillips had a net margin of 16.02% and a return on equity of 16.54%. During the same period in the prior year, the business earned $2.05 earnings per share. Sell-side analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were given a $0.78 dividend. The ex-dividend date was Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a yield of 3.3%. ConocoPhillips’s payout ratio is presently 39.64%.

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.