Pallas Capital Advisors LLC Increases Position in ConocoPhillips (NYSE:COP)

Pallas Capital Advisors LLC increased its stake in shares of ConocoPhillips (NYSE:COP) by 27.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,325 shares of the energy producer’s stock after purchasing an additional 1,594 shares during the quarter. Pallas Capital Advisors LLC’s holdings in ConocoPhillips were worth $765,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Values First Advisors Inc. acquired a new position in shares of ConocoPhillips during the third quarter worth $26,000. Stephens Consulting LLC grew its stake 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. Ruedi Wealth Management Inc. increased 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 buying an additional 150 shares in the last quarter. Y.D. More Investments Ltd purchased a new stake in ConocoPhillips in the second quarter valued at about $35,000. Finally, Fairway Wealth LLC boosted its holdings in ConocoPhillips by 95.6% in the second quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock worth $36,000 after acquiring an additional 153 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Up 0.7 %

COP opened at $103.03 on Thursday. The company has a fifty day moving average of $108.02 and a two-hundred day moving average of $113.20. The stock has a market capitalization of $119.64 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 0.85 and a beta of 1.21. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, beating the consensus estimate 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%. ConocoPhillips’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.84 EPS. On average, research analysts expect that ConocoPhillips will post 7.85 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on COP. 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 report on Monday, September 30th. Scotiabank decreased their price target on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Sanford C. Bernstein lowered their price objective on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $126.00 target price (down from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. Finally, Wolfe Research assumed coverage on ConocoPhillips in a report on Thursday, July 18th. They issued an “outperform” rating and a $145.00 price objective on the stock. 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $136.94.

Insider Buying and Selling at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the completion of the transaction, the director now directly owns 455,909 shares of the company’s stock, valued at $49,288,321.99. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.34% of the stock is owned by corporate insiders.

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.