8,215 Shares in ConocoPhillips $COP Bought by Montchanin Asset Management LLC

Montchanin Asset Management LLC bought a new position in shares of ConocoPhillips (NYSE:COP) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 8,215 shares of the energy producer’s stock, valued at approximately $1,084,000. ConocoPhillips comprises 1.1% of Montchanin Asset Management LLC’s portfolio, making the stock its 21st largest position.

A number of other hedge funds also recently bought and sold shares of COP. Frazier Financial Advisors LLC grew its position in shares of ConocoPhillips by 151.0% in the first quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock valued at $32,000 after purchasing an additional 145 shares during the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in shares of ConocoPhillips during the 4th quarter worth about $25,000. Evergreen Advisors LLC acquired a new position in shares of ConocoPhillips during the 1st quarter worth about $36,000. Strive Asset Management LLC bought a new stake in ConocoPhillips during the 3rd quarter valued at approximately $28,000. Finally, Avalon Trust Co bought a new stake in ConocoPhillips during the 1st quarter valued at approximately $40,000. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Up 1.3%

COP stock opened at $120.57 on Friday. ConocoPhillips has a twelve month low of $85.57 and a twelve month high of $135.87. The company has a market cap of $146.89 billion, a PE ratio of 20.47, a price-to-earnings-growth ratio of 1.44 and a beta of 0.12. The business’s 50-day simple moving average is $112.98 and its 200 day simple moving average is $114.93. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34.

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

Wall Street Analyst Weigh In

COP has been the topic of a number of research analyst reports. Royal Bank Of Canada set a $130.00 target price on ConocoPhillips in a report on Monday, June 22nd. Roth Capital upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and upped their price target for the stock from $124.00 to $130.00 in a report on Monday, June 22nd. Piper Sandler increased their price objective on ConocoPhillips from $154.00 to $157.00 and gave the company an “overweight” rating in a research report on Wednesday, April 8th. Susquehanna raised their price objective on shares of ConocoPhillips from $152.00 to $155.00 and gave the stock a “positive” rating in a research note on Tuesday, July 21st. Finally, Wolfe Research boosted their target price on shares of ConocoPhillips from $138.00 to $144.00 and gave the stock an “outperform” rating in a research report on Monday, April 6th. Eighteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.16.

ConocoPhillips Company 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.