Amalgamated Bank Has $21.91 Million Stock Holdings in ConocoPhillips $COP

Amalgamated Bank trimmed its position in ConocoPhillips (NYSE:COP) by 1.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 244,148 shares of the energy producer’s stock after selling 4,481 shares during the quarter. Amalgamated Bank’s holdings in ConocoPhillips were worth $21,910,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Financial Network Wealth Advisors LLC grew its position in shares of ConocoPhillips by 341.5% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock worth $30,000 after buying an additional 222 shares during the period. Stone House Investment Management LLC bought a new stake in ConocoPhillips in the 1st quarter valued at approximately $31,000. Bogart Wealth LLC lifted its stake in ConocoPhillips by 136.8% in the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock valued at $28,000 after acquiring an additional 182 shares in the last quarter. Activest Wealth Management lifted its stake in ConocoPhillips by 249.5% in the 2nd quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 232 shares in the last quarter. Finally, IMA Advisory Services Inc. bought a new stake in ConocoPhillips in the 1st quarter valued at approximately $37,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Price Performance

Shares of COP stock opened at $87.96 on Thursday. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $115.38. The company has a market cap of $109.86 billion, a P/E ratio of 11.81, a P/E/G ratio of 2.32 and a beta of 0.62. The business has a fifty day simple moving average of $92.94 and a 200 day simple moving average of $92.00.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.36 by $0.06. The firm had revenue of $14.94 billion during the quarter, compared to the consensus estimate of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period last year, the company earned $1.98 earnings per share. On average, sell-side analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips’s dividend payout ratio (DPR) is 41.88%.

Analysts Set New Price Targets

COP has been the topic of a number of analyst reports. Mizuho dropped their price objective on ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Melius initiated coverage on ConocoPhillips in a research note on Wednesday, August 20th. They set a “hold” rating and a $117.00 price objective on the stock. JPMorgan Chase & Co. upped their price objective on ConocoPhillips from $114.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, October 9th. BMO Capital Markets upped their price objective on ConocoPhillips from $115.00 to $117.00 and gave the stock an “outperform” rating in a research note on Monday, October 13th. Finally, Piper Sandler decreased their target price on ConocoPhillips from $124.00 to $115.00 and set an “overweight” rating on the stock in a report on Monday, October 13th. Eighteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and an average target price of $115.63.

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.