CRA Financial Services LLC Acquires 7,390 Shares of ConocoPhillips $COP

CRA Financial Services LLC lifted its holdings in ConocoPhillips (NYSE:COP) by 128.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,163 shares of the energy producer’s stock after purchasing an additional 7,390 shares during the period. CRA Financial Services LLC’s holdings in ConocoPhillips were worth $1,647,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Robertson Stephens Wealth Management LLC raised its holdings in shares of ConocoPhillips by 909.2% in the 3rd quarter. Robertson Stephens Wealth Management LLC now owns 56,769 shares of the energy producer’s stock worth $7,105,000 after purchasing an additional 51,144 shares in the last quarter. Frank Rimerman Advisors LLC lifted its stake in ConocoPhillips by 71.1% during the third quarter. Frank Rimerman Advisors LLC now owns 23,740 shares of the energy producer’s stock valued at $2,971,000 after purchasing an additional 9,868 shares during the last quarter. Encompass More Asset Management boosted its holdings in ConocoPhillips by 39.3% during the third quarter. Encompass More Asset Management now owns 7,169 shares of the energy producer’s stock worth $969,000 after buying an additional 2,021 shares in the last quarter. Gemmer Asset Management LLC boosted its holdings in ConocoPhillips by 284.7% during the third quarter. Gemmer Asset Management LLC now owns 9,052 shares of the energy producer’s stock worth $1,133,000 after buying an additional 6,699 shares in the last quarter. Finally, Alpine Bank Wealth Management boosted its holdings in ConocoPhillips by 19.3% during the third quarter. Alpine Bank Wealth Management now owns 3,201 shares of the energy producer’s stock worth $443,000 after buying an additional 517 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Price Performance

NYSE COP opened at $146.43 on Friday. The stock’s 50-day moving average price is $132.11 and its two-hundred day moving average price is $122.44. The company has a current ratio of 1.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35. The company has a market cap of $175.92 billion, a PE ratio of 19.37, a PEG ratio of 1.45 and a beta of 0.24. ConocoPhillips has a 1 year low of $85.57 and a 1 year high of $146.59.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, beating analysts’ consensus estimates of $2.90 by $0.34. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The company had revenue of $19.52 billion during the quarter, compared to analyst estimates of $18.79 billion. During the same period in the prior year, the firm earned $1.42 earnings per share. The business’s quarterly revenue was up 32.4% on a year-over-year basis. On average, analysts predict that ConocoPhillips will post 11.19 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were issued a dividend of $0.84 per share. The ex-dividend date was Monday, August 17th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.3%. ConocoPhillips’s payout ratio is currently 44.44%.

Insider Activity

In other news, SVP Andrew Lundquist sold 9,487 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the sale, the senior vice president owned 9,593 shares in the company, valued at $1,296,493.95. The trade was a 49.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have issued reports on COP. Raymond James Financial restated an “underperform” rating and issued a $168.00 price target on shares of ConocoPhillips in a research report on Monday, August 24th. Royal Bank Of Canada set a $130.00 price objective on ConocoPhillips in a research report on Monday, June 22nd. The Goldman Sachs Group cut their price objective on ConocoPhillips from $144.00 to $138.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Roth Capital raised ConocoPhillips from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $124.00 to $130.00 in a research note on Monday, June 22nd. Finally, Mizuho decreased their target price on ConocoPhillips from $150.00 to $146.00 and set an “outperform” rating on the stock in a report on Tuesday, July 7th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and an average price target of $143.62.

About ConocoPhillips

ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged in finding, developing and producing oil, natural gas and natural gas liquids. Unlike integrated energy companies, it primarily focuses on upstream activities rather than operating large refining or retail fuel businesses.

The company’s portfolio includes conventional and unconventional oil and natural gas assets, liquefied natural gas-related interests, oil sands operations and other energy resources.