Klein Pavlis & Peasley Financial Inc. Grows Holdings in ConocoPhillips (NYSE:COP)

Klein Pavlis & Peasley Financial Inc. lifted its position in shares of ConocoPhillips (NYSE:COP) by 29.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,200 shares of the energy producer’s stock after acquiring an additional 4,600 shares during the period. ConocoPhillips comprises approximately 1.7% of Klein Pavlis & Peasley Financial Inc.’s holdings, making the stock its 19th largest holding. Klein Pavlis & Peasley Financial Inc.’s holdings in ConocoPhillips were worth $2,127,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its position in ConocoPhillips by 35.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock worth $4,097,473,000 after buying an additional 8,479,963 shares during the period. Capital International Investors increased its position in ConocoPhillips by 9.6% in the first quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock worth $2,705,059,000 after buying an additional 1,856,085 shares during the period. International Assets Investment Management LLC increased its position in ConocoPhillips by 10,634.2% in the third quarter. International Assets Investment Management LLC now owns 1,205,666 shares of the energy producer’s stock worth $126,933,000 after buying an additional 1,194,434 shares during the period. Clearbridge Investments LLC increased its position in ConocoPhillips by 46.0% in the first quarter. Clearbridge Investments LLC now owns 3,219,929 shares of the energy producer’s stock worth $409,833,000 after buying an additional 1,015,158 shares during the period. Finally, TD Asset Management Inc increased its position in ConocoPhillips by 34.7% in the first quarter. TD Asset Management Inc now owns 2,762,431 shares of the energy producer’s stock worth $351,602,000 after buying an additional 712,062 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction dated 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 in the company, valued at $49,288,321.99. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.34% of the stock is owned by company insiders.

ConocoPhillips Trading Up 0.2 %

Shares of ConocoPhillips stock opened at $104.56 on Monday. ConocoPhillips has a 52 week low of $101.29 and a 52 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. The stock has a 50 day moving average price of $108.47 and a two-hundred day moving average price of $113.68. The stock has a market capitalization of $122.29 billion, a PE ratio of 11.84, a price-to-earnings-growth ratio of 0.84 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.02. The company had revenue of $14.14 billion for 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%. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter last year, the company earned $1.84 earnings per share. As a group, equities analysts anticipate that ConocoPhillips will post 7.95 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were given a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 2.22%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.27%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on COP shares. Barclays dropped their target price on ConocoPhillips from $156.00 to $135.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Sanford C. Bernstein lowered their price target on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Wolfe Research started coverage on ConocoPhillips in a report on Thursday, July 18th. They set an “outperform” rating and a $145.00 price target on the stock. Truist Financial lowered their price target on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $140.00 price target on shares of ConocoPhillips in a report on Friday, September 13th. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and an average target price of $136.94.

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.