Pittenger & Anderson Inc. Buys 1,000 Shares of ConocoPhillips (NYSE:COP)

Pittenger & Anderson Inc. boosted its holdings in shares of ConocoPhillips (NYSE:COPGet Rating) by 60.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,651 shares of the energy producer’s stock after purchasing an additional 1,000 shares during the period. Pittenger & Anderson Inc.’s holdings in ConocoPhillips were worth $238,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in COP. Crossvault Capital Management LLC grew its holdings in shares of ConocoPhillips by 1.7% during the 1st quarter. Crossvault Capital Management LLC now owns 6,120 shares of the energy producer’s stock worth $612,000 after purchasing an additional 100 shares during the period. Ballew Advisors Inc raised its position in shares of ConocoPhillips by 1.5% during the 1st quarter. Ballew Advisors Inc now owns 7,005 shares of the energy producer’s stock worth $702,000 after acquiring an additional 103 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in ConocoPhillips by 2.1% during the 1st quarter. Parkside Financial Bank & Trust now owns 5,163 shares of the energy producer’s stock worth $516,000 after buying an additional 105 shares during the last quarter. Greenwich Wealth Management LLC grew its stake in ConocoPhillips by 2.9% during the 1st quarter. Greenwich Wealth Management LLC now owns 3,851 shares of the energy producer’s stock worth $385,000 after buying an additional 107 shares during the last quarter. Finally, Rosenberg Matthew Hamilton grew its stake in ConocoPhillips by 1.1% during the 1st quarter. Rosenberg Matthew Hamilton now owns 11,076 shares of the energy producer’s stock worth $1,108,000 after buying an additional 116 shares during the last quarter. Institutional investors own 79.66% of the company’s stock.

Insider Activity

In other news, EVP Nicholas G. Olds sold 10,950 shares of the company’s stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $116.52, for a total transaction of $1,275,894.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

COP has been the topic of several analyst reports. MKM Partners lifted their target price on ConocoPhillips from $110.00 to $118.00 and gave the company a “buy” rating in a research note on Friday, August 26th. Morgan Stanley lifted their price objective on ConocoPhillips from $117.00 to $118.00 and gave the stock an “overweight” rating in a report on Monday, August 29th. Truist Financial reduced their price objective on ConocoPhillips from $126.00 to $123.00 and set a “buy” rating for the company in a report on Wednesday, July 13th. Societe Generale boosted their price target on ConocoPhillips to $127.00 in a report on Thursday, June 9th. Finally, Barclays lifted their price objective on ConocoPhillips from $142.00 to $153.00 and gave the company an “overweight” rating in a research report on Wednesday, August 31st. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and an average target price of $121.79.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $110.06 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.54 and a quick ratio of 1.44. ConocoPhillips has a 1-year low of $62.25 and a 1-year high of $124.08. The business has a 50-day moving average of $102.42 and a 200-day moving average of $101.24. The company has a market capitalization of $142.36 billion, a price-to-earnings ratio of 9.09, a PEG ratio of 0.39 and a beta of 1.31.

ConocoPhillips (NYSE:COPGet Rating) last released its quarterly earnings results on Thursday, August 4th. The energy producer reported $3.91 EPS for the quarter, missing the consensus estimate of $3.95 by ($0.04). ConocoPhillips had a return on equity of 31.24% and a net margin of 23.10%. During the same period last year, the firm posted $1.27 earnings per share. On average, equities analysts anticipate that ConocoPhillips will post 14.54 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently disclosed a None dividend, which was paid on Thursday, September 1st. Shareholders of record on Tuesday, August 16th were paid a dividend of $1.40 per share. The ex-dividend date of this dividend was Thursday, September 29th. ConocoPhillips’s payout ratio is currently 15.19%.

ConocoPhillips Company Profile

(Get Rating)

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.

See Also

Want to see what other hedge funds are holding COP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ConocoPhillips (NYSE:COPGet Rating).

Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

Receive News & Ratings for ConocoPhillips Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ConocoPhillips and related companies with MarketBeat.com's FREE daily email newsletter.