CFS Investment Advisory Services LLC Grows Holdings in ConocoPhillips (NYSE:COP)

CFS Investment Advisory Services LLC boosted its holdings in ConocoPhillips (NYSE:COP) by 58.3% in the 3rd quarter, Holdings Channel reports. The firm owned 5,238 shares of the energy producer’s stock after purchasing an additional 1,929 shares during the period. CFS Investment Advisory Services LLC’s holdings in ConocoPhillips were worth $551,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Values First Advisors Inc. purchased a new stake in ConocoPhillips in the 3rd quarter valued at $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 worth $29,000 after buying an additional 104 shares during the last quarter. Reston Wealth Management LLC purchased a new position in ConocoPhillips during the 3rd quarter worth $31,000. Y.D. More Investments Ltd purchased a new position in ConocoPhillips during the 2nd quarter worth $35,000. Finally, Fairway Wealth LLC raised its position in 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 buying an additional 153 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on COP. UBS Group cut their price objective on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Truist Financial cut their price objective on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Wells Fargo & Company restated a “sector perform” rating on shares of ConocoPhillips in a research report on Friday, October 18th. Barclays upped their price objective on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Finally, BMO Capital Markets upped their price objective on shares of ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Six 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’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $137.63.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $111.75 on Friday. The stock has a market cap of $128.61 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 0.91 and a beta of 1.21. ConocoPhillips has a 52 week low of $101.29 and a 52 week high of $135.18. The company’s 50-day moving average price is $108.91 and its 200 day moving average price is $111.40. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34.

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

ConocoPhillips Increases Dividend

The company 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. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend is Friday, November 8th. ConocoPhillips’s dividend payout ratio (DPR) is currently 37.10%.

ConocoPhillips 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.