TFB Advisors LLC Acquires New Holdings in ConocoPhillips (NYSE:COP)

TFB Advisors LLC bought a new position in ConocoPhillips (NYSE:COP) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,573 shares of the energy producer’s stock, valued at approximately $320,000.

Other hedge funds have also modified their holdings of the company. Orion Capital Management LLC acquired a new position in ConocoPhillips during the 3rd quarter valued at about $27,000. West Branch Capital LLC increased its holdings in shares of ConocoPhillips by 87.8% during the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after acquiring an additional 108 shares in the last quarter. Sachetta LLC purchased a new position in shares of ConocoPhillips in the 4th quarter valued at approximately $27,000. Cooksen Wealth LLC acquired a new stake in ConocoPhillips in the 4th quarter worth approximately $27,000. Finally, Cape Investment Advisory Inc. grew its position in ConocoPhillips by 96.0% during the 4th quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock worth $29,000 after purchasing an additional 121 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Bank of America reaffirmed a “buy” rating and issued a $147.00 price target on shares of ConocoPhillips in a report on Friday, June 14th. Truist Financial lifted their price target on ConocoPhillips from $160.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, June 3rd. Wells Fargo & Company boosted their price target on ConocoPhillips from $149.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Raymond James restated a “strong-buy” rating and issued a $159.00 price objective (up from $155.00) on shares of ConocoPhillips in a research note on Thursday, May 30th. Finally, Argus upgraded ConocoPhillips to a “strong-buy” rating in a research report on Friday, June 7th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and an average target price of $145.69.

ConocoPhillips Stock Performance

NYSE COP traded up $1.34 during mid-day trading on Wednesday, reaching $112.53. 3,867,697 shares of the stock were exchanged, compared to its average volume of 5,592,497. ConocoPhillips has a 1 year low of $104.85 and a 1 year high of $135.18. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.21 and a current ratio of 1.35. The business’s 50 day moving average is $116.08 and its 200-day moving average is $117.49. The company has a market capitalization of $131.61 billion, a P/E ratio of 12.61, a P/E/G ratio of 2.00 and a beta of 1.23.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.04. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. The business had revenue of $14.48 billion for the quarter, compared to analyst estimates of $14.72 billion. On average, equities research analysts forecast that ConocoPhillips will post 8.89 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend was Friday, May 10th. ConocoPhillips’s 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.