Ethic Inc. Has $2.57 Million Position in ConocoPhillips $COP

Ethic Inc. boosted its position in ConocoPhillips (NYSE:COP) by 22.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,526 shares of the energy producer’s stock after purchasing an additional 5,309 shares during the period. Ethic Inc.’s holdings in ConocoPhillips were worth $2,572,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of COP. Bogart Wealth LLC grew its position in shares of ConocoPhillips by 136.8% in the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock valued at $28,000 after buying an additional 182 shares during the last quarter. Activest Wealth Management grew its position in shares of ConocoPhillips by 249.5% in the 2nd quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock valued at $29,000 after buying an additional 232 shares during the last quarter. Financial Network Wealth Advisors LLC grew its position in shares of ConocoPhillips by 341.5% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock valued at $30,000 after buying an additional 222 shares during the last quarter. Stone House Investment Management LLC bought a new stake in shares of ConocoPhillips in the 1st quarter valued at about $31,000. Finally, IMA Advisory Services Inc. bought a new stake in shares of ConocoPhillips in the 1st quarter valued at about $37,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Down 2.3%

COP stock opened at $88.01 on Friday. The stock’s 50 day simple moving average is $93.32 and its 200 day simple moving average is $91.92. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $115.38. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. The company has a market cap of $109.92 billion, a P/E ratio of 11.81, a price-to-earnings-growth ratio of 2.40 and a beta of 0.62.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The business had revenue of $14.94 billion for the quarter, compared to the consensus estimate of $14.39 billion. During the same period in the prior year, the business earned $1.98 EPS. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips’s dividend payout ratio is 41.88%.

Analyst Ratings Changes

A number of research firms have commented on COP. Barclays reduced their price target on ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 7th. Scotiabank upped their target price on ConocoPhillips from $95.00 to $100.00 and gave the company a “sector perform” rating in a research report on Friday, July 11th. Piper Sandler cut their target price on ConocoPhillips from $124.00 to $115.00 and set an “overweight” rating on the stock in a research report on Monday, October 13th. Capital One Financial upped their target price on ConocoPhillips from $111.00 to $112.00 in a research report on Friday, October 3rd. Finally, Mizuho cut their target price on ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. Eighteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $115.63.

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.