MCF Advisors LLC Has $322,000 Position in ConocoPhillips (NYSE:COP)

MCF Advisors LLC increased its position in shares of ConocoPhillips (NYSE:COP) by 9.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,814 shares of the energy producer’s stock after acquiring an additional 233 shares during the quarter. MCF Advisors LLC’s holdings in ConocoPhillips were worth $322,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in COP. Sachetta LLC acquired a new stake in shares of ConocoPhillips in the fourth quarter valued at about $27,000. Cooksen Wealth LLC acquired a new position in shares of ConocoPhillips during the 4th quarter worth about $27,000. Cape Investment Advisory Inc. raised its holdings in shares of ConocoPhillips by 96.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 121 shares during the period. Stephens Consulting LLC lifted its stake in ConocoPhillips by 69.3% in the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 104 shares during the last quarter. Finally, Richardson Capital Management LLC bought a new position in ConocoPhillips during the first quarter worth about $31,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the sale, the director now directly owns 455,909 shares of the company’s stock, valued at $49,288,321.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

COP has been the subject of a number of recent research reports. Truist Financial reduced their target price on shares of ConocoPhillips from $147.00 to $145.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Wells Fargo & Company dropped their target price on shares of ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Scotiabank decreased their price target on ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Royal Bank of Canada lifted their price target on shares of ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, May 15th. Finally, Mizuho cut their target price on shares of ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 5th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $143.24.

ConocoPhillips Stock Down 1.0 %

Shares of ConocoPhillips stock opened at $107.45 on Friday. The firm has a market cap of $124.78 billion, a price-to-earnings ratio of 12.17, a PEG ratio of 0.85 and a beta of 1.22. The stock’s 50-day moving average is $111.37 and its 200 day moving average is $116.98. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19. ConocoPhillips has a one year low of $102.27 and a one year high of $135.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, topping the consensus estimate of $1.96 by $0.02. The company had revenue of $14.14 billion during the quarter, compared to the consensus estimate of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The company’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.84 EPS. Equities research analysts anticipate that ConocoPhillips will post 8.5 EPS for the current year.

ConocoPhillips Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s dividend payout ratio is currently 26.27%.

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.