Peak Asset Management LLC Has $6.84 Million Position in ConocoPhillips (NYSE:COP)

Peak Asset Management LLC lessened its position in ConocoPhillips (NYSE:COP) by 1.2% during the third quarter, Holdings Channel reports. The institutional investor owned 64,947 shares of the energy producer’s stock after selling 779 shares during the quarter. ConocoPhillips comprises approximately 1.3% of Peak Asset Management LLC’s portfolio, making the stock its 26th largest holding. Peak Asset Management LLC’s holdings in ConocoPhillips were worth $6,838,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Values First Advisors Inc. bought a new position in ConocoPhillips in the third quarter valued at $26,000. Stephens Consulting LLC grew its stake in 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 purchasing an additional 104 shares in the last quarter. Reston Wealth Management LLC bought a new stake in shares of ConocoPhillips during the 3rd quarter worth approximately $31,000. Y.D. More Investments Ltd bought a new position in shares of ConocoPhillips in the second quarter valued at $35,000. Finally, Fairway Wealth LLC raised its position in ConocoPhillips by 95.6% during the second quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock worth $36,000 after acquiring an additional 153 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on COP. Scotiabank reduced their price target on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Wells Fargo & Company reiterated a “sector perform” rating on shares of ConocoPhillips in a research report on Friday, October 18th. Sanford C. Bernstein lowered their price target on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. Truist Financial decreased their target price on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Finally, Barclays boosted their target price on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $137.47.

ConocoPhillips Stock Up 1.1 %

ConocoPhillips stock opened at $111.82 on Thursday. ConocoPhillips has a 12-month low of $101.29 and a 12-month high of $135.18. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $128.69 billion, a PE ratio of 13.30, a PEG ratio of 0.90 and a beta of 1.21. The firm’s fifty day moving average is $107.71 and its 200 day moving average is $111.90.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.97 billion. During the same period last year, the business earned $2.16 EPS. ConocoPhillips’s quarterly revenue was down 8.5% compared to the same quarter last year. As a group, sell-side analysts predict that ConocoPhillips will post 7.8 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a yield of 2.79%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is 37.10%.

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.