Benjamin Edwards Inc. Has $2.81 Million Stake in ConocoPhillips (NYSE:COP)

Benjamin Edwards Inc. grew its holdings in ConocoPhillips (NYSE:COP) by 489.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,711 shares of the energy producer’s stock after purchasing an additional 22,182 shares during the period. Benjamin Edwards Inc.’s holdings in ConocoPhillips were worth $2,814,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in COP. Values First Advisors Inc. bought a new position in ConocoPhillips during the third quarter valued at approximately $26,000. Stephens Consulting LLC raised its position in ConocoPhillips by 69.3% during the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 104 shares in the last quarter. Reston Wealth Management LLC bought a new position in ConocoPhillips during the third quarter valued at approximately $31,000. Truvestments Capital LLC bought a new position in ConocoPhillips during the third quarter valued at approximately $31,000. Finally, Y.D. More Investments Ltd bought a new position in ConocoPhillips during the second quarter valued at approximately $35,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

COP has been the topic of several recent research reports. Truist Financial cut their price objective 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 price objective on shares of ConocoPhillips in a research report on Friday, September 13th. Scotiabank lowered their price target on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. UBS Group lowered their price target on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Finally, Mizuho increased their price target on ConocoPhillips from $129.00 to $132.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued 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 target price of $137.63.

ConocoPhillips Stock Down 2.4 %

Shares of COP stock opened at $103.51 on Thursday. The stock has a market cap of $119.13 billion, a P/E ratio of 12.31, a price-to-earnings-growth ratio of 0.87 and a beta of 1.18. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18. The stock has a fifty day moving average price of $108.59 and a 200 day moving average price of $110.47. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping the consensus estimate of $1.68 by $0.10. The firm had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. ConocoPhillips’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same period last year, the business earned $2.16 earnings per share. Analysts predict that ConocoPhillips will post 7.76 earnings per share for the current year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, November 8th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.01%. ConocoPhillips’s dividend payout ratio (DPR) is presently 37.10%.

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.