Klein Pavlis & Peasley Financial Inc. Acquires 4,600 Shares of ConocoPhillips (NYSE:COP)

Klein Pavlis & Peasley Financial Inc. raised its holdings in shares of ConocoPhillips (NYSE:COP) by 29.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,200 shares of the energy producer’s stock after purchasing an additional 4,600 shares during the period. ConocoPhillips accounts for about 1.7% of Klein Pavlis & Peasley Financial Inc.’s holdings, making the stock its 19th largest holding. Klein Pavlis & Peasley Financial Inc.’s holdings in ConocoPhillips were worth $2,127,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ruedi Wealth Management Inc. raised its position in ConocoPhillips by 150.0% during the 1st quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock valued at $32,000 after purchasing an additional 150 shares during the last quarter. Values First Advisors Inc. bought a new position in ConocoPhillips during the 3rd quarter valued at approximately $26,000. Stephens Consulting LLC raised its position in ConocoPhillips by 69.3% during 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. Y.D. More Investments Ltd bought a new position in ConocoPhillips during the 2nd quarter valued at approximately $35,000. Finally, Fairway Wealth LLC grew its holdings in shares of ConocoPhillips by 95.6% during the 2nd quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock worth $36,000 after acquiring an additional 153 shares during the period. Institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Truist Financial reduced their target price on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, September 30th. StockNews.com downgraded ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Barclays cut their price target on ConocoPhillips from $156.00 to $135.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Mizuho cut their price target on ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Finally, UBS Group cut their price target on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $136.94.

Insider Buying and Selling

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were 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 owns 455,909 shares of the company’s stock, valued at $49,288,321.99. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.34% of the stock is currently owned by company insiders.

ConocoPhillips Price Performance

NYSE:COP opened at $104.56 on Monday. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34. The business’s 50-day simple moving average is $108.47 and its two-hundred day simple moving average is $113.68. The stock has a market cap of $122.29 billion, a PE ratio of 11.84, a P/E/G ratio of 0.84 and a beta of 1.21. ConocoPhillips has a 52 week low of $101.29 and a 52 week high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.02. The firm had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.84 earnings per share. As a group, analysts forecast that ConocoPhillips will post 7.95 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were given a $0.58 dividend. The ex-dividend date was Monday, August 12th. This represents a $2.32 annualized dividend and a yield of 2.22%. ConocoPhillips’s dividend payout ratio 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.