Resurgent Financial Advisors LLC Boosts Stock Holdings in ConocoPhillips (NYSE:COP)

Resurgent Financial Advisors LLC raised its holdings in shares of ConocoPhillips (NYSE:COP) by 3.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,266 shares of the energy producer’s stock after buying an additional 805 shares during the period. ConocoPhillips comprises approximately 1.3% of Resurgent Financial Advisors LLC’s portfolio, making the stock its 17th largest position. Resurgent Financial Advisors LLC’s holdings in ConocoPhillips were worth $2,239,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in COP. Values First Advisors Inc. purchased a new stake in ConocoPhillips during the third quarter valued at about $26,000. Stephens Consulting LLC boosted its holdings in shares of ConocoPhillips by 69.3% during the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after purchasing an additional 104 shares during the period. Reston Wealth Management LLC purchased a new stake in shares of ConocoPhillips during the third quarter worth about $31,000. Truvestments Capital LLC purchased a new stake in shares of ConocoPhillips during the third quarter worth about $31,000. Finally, Y.D. More Investments Ltd purchased a new stake in shares of ConocoPhillips during the second quarter worth about $35,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

COP has been the subject of a number of analyst reports. Truist Financial dropped their target price on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a report on Monday, September 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 target price on shares of ConocoPhillips in a report on Friday, September 13th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $126.00 target price (down from $139.00) on shares of ConocoPhillips in a report on Friday, October 11th. Scotiabank dropped their target price 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. Finally, Wells Fargo & Company reissued a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $137.63.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $103.51 on Thursday. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. The company has a 50 day simple moving average of $108.59 and a two-hundred day simple moving average of $110.47. The company has a market capitalization of $119.13 billion, a price-to-earnings ratio of 12.31, a P/E/G ratio of 0.87 and a beta of 1.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30.

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

ConocoPhillips Increases Dividend

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