Summit Trail Advisors LLC Acquires 483 Shares of ConocoPhillips (NYSE:COP)

Summit Trail Advisors LLC raised its holdings in shares of ConocoPhillips (NYSE:COP) by 2.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,070 shares of the energy producer’s stock after purchasing an additional 483 shares during the quarter. Summit Trail Advisors LLC’s holdings in ConocoPhillips were worth $2,534,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Values First Advisors Inc. bought a new stake in shares of ConocoPhillips in the third quarter valued at about $26,000. Stephens Consulting LLC raised its holdings in shares of ConocoPhillips by 69.3% in the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 104 shares in the last quarter. Reston Wealth Management LLC bought a new stake in shares of ConocoPhillips in the third quarter valued at about $31,000. Y.D. More Investments Ltd bought a new stake in shares of ConocoPhillips in the second quarter valued at about $35,000. Finally, Fairway Wealth LLC raised its holdings in shares of ConocoPhillips by 95.6% in the second quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock valued at $36,000 after acquiring an additional 153 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Down 0.1 %

Shares of NYSE:COP opened at $111.75 on Monday. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 52-week low of $101.29 and a 52-week high of $135.18. The stock’s fifty day simple moving average is $108.91 and its 200-day simple moving average is $111.23. The company has a market capitalization of $128.61 billion, a P/E ratio of 13.29, a P/E/G ratio of 0.91 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.10. The business had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The business’s revenue was down 8.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.16 earnings per share. As a group, equities research analysts forecast that ConocoPhillips will post 7.78 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be paid a $0.78 dividend. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend is Friday, November 8th. ConocoPhillips’s dividend payout ratio is presently 37.10%.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $126.00 target price (down previously from $139.00) on shares of ConocoPhillips in a research note on Friday, October 11th. Scotiabank cut their target price on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Barclays lifted their target price on ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Wells Fargo & Company reiterated a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. Finally, Truist Financial dropped their price target on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $137.63.

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.