Segall Bryant & Hamill LLC Purchases New Position in ConocoPhillips $COP

Segall Bryant & Hamill LLC acquired a new position in ConocoPhillips (NYSE:COP) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 68,372 shares of the energy producer’s stock, valued at approximately $9,025,000.

A number of other institutional investors and hedge funds have also bought and sold shares of COP. Montchanin Asset Management LLC purchased a new stake in shares of ConocoPhillips in the 1st quarter worth $1,084,000. J. Derek Lewis & Associates Inc. bought a new position in shares of ConocoPhillips during the 1st quarter worth $207,000. Eley Financial Management Inc increased its stake in shares of ConocoPhillips by 3.1% during the first quarter. Eley Financial Management Inc now owns 11,829 shares of the energy producer’s stock valued at $1,561,000 after buying an additional 356 shares during the period. Orographic Financial Advisors LLC purchased a new position in shares of ConocoPhillips during the first quarter valued at $208,000. Finally, Paragon Private Wealth Management LLC raised its holdings in shares of ConocoPhillips by 29.8% in the first quarter. Paragon Private Wealth Management LLC now owns 6,441 shares of the energy producer’s stock valued at $850,000 after acquiring an additional 1,480 shares in the last quarter. 82.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

COP has been the subject of a number of research reports. Argus upped their price objective on shares of ConocoPhillips from $128.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Zacks Research lowered shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. The Goldman Sachs Group lowered their price target on shares of ConocoPhillips from $144.00 to $138.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Truist Financial dropped their price objective on shares of ConocoPhillips from $128.00 to $115.00 and set a “hold” rating on the stock in a research note on Wednesday, July 8th. Finally, Morgan Stanley reduced their price objective on shares of ConocoPhillips from $153.00 to $146.00 and set an “overweight” rating for the company in a research note on Friday, June 26th. Eighteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $134.16.

ConocoPhillips Stock Performance

COP stock opened at $120.57 on Monday. The firm has a market cap of $146.89 billion, a price-to-earnings ratio of 20.47, a PEG ratio of 1.45 and a beta of 0.11. The firm has a 50-day simple moving average of $112.98 and a two-hundred day simple moving average of $115.07. ConocoPhillips has a one year low of $85.57 and a one year high of $135.87. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. The firm had revenue of $15.76 billion for the quarter, compared to the consensus estimate of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The company’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.09 EPS. On average, equities analysts forecast that ConocoPhillips will post 9.2 EPS for the current fiscal year.

ConocoPhillips Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.