18,319 Shares in ConocoPhillips $COP Purchased by Spartan Wealth Advisory Services LLC

Spartan Wealth Advisory Services LLC acquired a new stake in shares of ConocoPhillips (NYSE:COP) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 18,319 shares of the energy producer’s stock, valued at approximately $2,418,000.

Several other large investors also recently added to or reduced their stakes in the stock. Jennison Associates LLC grew its stake in ConocoPhillips by 77.6% in the first quarter. Jennison Associates LLC now owns 272,114 shares of the energy producer’s stock worth $35,919,000 after purchasing an additional 118,874 shares in the last quarter. McAlvany Wealth Management LLC raised its position in ConocoPhillips by 60.6% during the 1st quarter. McAlvany Wealth Management LLC now owns 48,071 shares of the energy producer’s stock valued at $6,388,000 after purchasing an additional 18,143 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in shares of ConocoPhillips by 1.9% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 15,594 shares of the energy producer’s stock worth $2,058,000 after buying an additional 294 shares during the period. California Public Employees Retirement System lifted its holdings in shares of ConocoPhillips by 12.1% in the 1st quarter. California Public Employees Retirement System now owns 2,898,034 shares of the energy producer’s stock worth $382,540,000 after buying an additional 313,395 shares during the period. Finally, Clifford Swan Investment Counsel LLC grew its position in shares of ConocoPhillips by 0.3% during the 1st quarter. Clifford Swan Investment Counsel LLC now owns 89,572 shares of the energy producer’s stock worth $11,823,000 after buying an additional 255 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips agreed to acquire a 42% stake in BP’s Iraq venture, increasing its exposure to the Kirkuk oilfields and more than 3 billion barrels of recoverable resources. Reuters article
• Positive Sentiment: The company’s Iraq agreement is part of a broader wave of U.S. corporate commitments to support Iraqi energy development, which may signal additional international growth potential. Financial Post article
• Positive Sentiment: Energy shares were broadly stronger, helping support ConocoPhillips alongside a sector-wide move higher. Yahoo Finance article
• Neutral Sentiment: Several reports noted that COP tends to move with crude oil prices, so commodity trends remain an important near-term driver for the stock. Kalkine Media article

ConocoPhillips Price Performance

Shares of COP stock opened at $114.70 on Friday. ConocoPhillips has a 1-year low of $85.57 and a 1-year high of $135.87. The stock’s 50-day moving average is $113.48 and its 200 day moving average is $113.37. The company has a market cap of $139.74 billion, a P/E ratio of 19.47, a PEG ratio of 1.39 and a beta of 0.12. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.17. The company had revenue of $15.76 billion for the quarter, compared to analyst estimates of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.09 earnings per share. Research analysts predict that ConocoPhillips will post 9.2 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Monday, May 11th. ConocoPhillips’s dividend payout ratio (DPR) is currently 57.05%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Sanford C. Bernstein lifted their price objective on ConocoPhillips from $98.00 to $121.00 and gave the company an “outperform” rating in a report on Monday, April 13th. Freedom Capital lowered shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 6th. Barclays upped their price target on shares of ConocoPhillips from $136.00 to $155.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Raymond James Financial dropped their price objective on shares of ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating on the stock in a research note on Monday, June 1st. Finally, Truist Financial cut their price objective on shares of ConocoPhillips from $128.00 to $115.00 and set a “hold” rating on the stock in a report on Wednesday, July 8th. Eighteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $134.04.

About ConocoPhillips

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.