Cetera Advisors LLC Purchases 23,115 Shares of ConocoPhillips (NYSE:COP)

Cetera Advisors LLC increased its position in shares of ConocoPhillips (NYSE:COP) by 50.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 68,844 shares of the energy producer’s stock after purchasing an additional 23,115 shares during the period. Cetera Advisors LLC’s holdings in ConocoPhillips were worth $8,763,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of COP. Cetera Investment Advisers grew its position in ConocoPhillips by 318.1% in the first quarter. Cetera Investment Advisers now owns 287,127 shares of the energy producer’s stock valued at $36,546,000 after acquiring an additional 218,453 shares during the period. Second Line Capital LLC bought a new stake in ConocoPhillips in the first quarter valued at $275,000. Swedbank AB bought a new stake in ConocoPhillips in the first quarter valued at $66,495,000. LRI Investments LLC bought a new stake in ConocoPhillips in the first quarter valued at $58,000. Finally, Adams Wealth Management grew its position in ConocoPhillips by 35.3% in the first quarter. Adams Wealth Management now owns 19,083 shares of the energy producer’s stock valued at $2,429,000 after acquiring an additional 4,980 shares during the period. 82.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

COP has been the topic of a number of analyst reports. Royal Bank of Canada upped their price target on ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, May 15th. Truist Financial lowered their price target on ConocoPhillips from $147.00 to $145.00 and set a “buy” rating on the stock in a research report on Friday. Wells Fargo & Company reduced their price objective on ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating on the stock in a research note on Friday. Bank of America reissued a “buy” rating and issued a $147.00 price objective on shares of ConocoPhillips in a research note on Friday, June 14th. Finally, Raymond James reissued a “strong-buy” rating and issued a $159.00 price objective (up previously from $155.00) on shares of ConocoPhillips in a research note on Thursday, May 30th. Five 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.06.

ConocoPhillips Trading Down 2.4 %

Shares of COP opened at $105.77 on Friday. ConocoPhillips has a 12-month low of $103.98 and a 12-month high of $135.18. The stock’s fifty day simple moving average is $112.75 and its 200-day simple moving average is $117.10. The company has a quick ratio of 1.21, a current ratio of 1.33 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $123.70 billion, a PE ratio of 11.98, a price-to-earnings-growth ratio of 2.14 and a beta of 1.24.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, missing the consensus estimate of $2.06 by ($0.08). ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The company had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. During the same period in the previous year, the company posted $1.84 EPS. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. As a group, research analysts predict that ConocoPhillips will post 8.73 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th will be issued a $0.58 dividend. The ex-dividend date of this dividend is Monday, August 12th. This represents a $2.32 annualized dividend and a dividend yield of 2.19%. ConocoPhillips’s dividend payout ratio (DPR) is currently 26.27%.

ConocoPhillips Company Profile

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.