Sequoia Financial Advisors LLC Grows Position in ConocoPhillips $COP

Sequoia Financial Advisors LLC grew its position in ConocoPhillips (NYSE:COP) by 15.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,741 shares of the energy producer’s stock after purchasing an additional 8,220 shares during the period. Sequoia Financial Advisors LLC’s holdings in ConocoPhillips were worth $8,282,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of COP. Vanguard Group Inc. grew its stake in ConocoPhillips by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 120,251,183 shares of the energy producer’s stock worth $11,256,713,000 after buying an additional 408,304 shares during the period. Capital International Investors raised its stake in shares of ConocoPhillips by 5.9% in the 4th quarter. Capital International Investors now owns 48,360,060 shares of the energy producer’s stock valued at $4,527,230,000 after acquiring an additional 2,714,663 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of ConocoPhillips by 6.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 41,450,162 shares of the energy producer’s stock valued at $3,880,151,000 after acquiring an additional 2,350,645 shares during the period. Franklin Resources Inc. lifted its holdings in shares of ConocoPhillips by 4.5% during the 4th quarter. Franklin Resources Inc. now owns 15,038,675 shares of the energy producer’s stock valued at $1,407,770,000 after acquiring an additional 648,432 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its position in ConocoPhillips by 1.3% during the 4th quarter. Fisher Asset Management LLC now owns 14,847,367 shares of the energy producer’s stock worth $1,389,862,000 after purchasing an additional 193,401 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

COP has been the subject of several recent research reports. Truist Financial lowered their price target on ConocoPhillips from $128.00 to $115.00 and set a “hold” rating for the company in a report on Wednesday. Capital One Financial reduced their price objective on ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating on the stock in a research note on Monday, May 18th. Scotiabank upped their target price on ConocoPhillips from $100.00 to $125.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. Argus increased their target price on ConocoPhillips from $128.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Finally, Susquehanna raised their target price on ConocoPhillips from $149.00 to $152.00 in a report on Friday, May 1st. Eighteen equities research 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $134.04.

ConocoPhillips Stock Up 1.0%

Shares of COP traded up $1.04 during trading on Friday, reaching $109.06. The company’s stock had a trading volume of 6,977,036 shares, compared to its average volume of 7,638,942. The company has a fifty day moving average of $114.15 and a two-hundred day moving average of $112.66. ConocoPhillips has a twelve month low of $85.57 and a twelve month high of $135.87. The company has a market cap of $132.86 billion, a price-to-earnings ratio of 18.52, a P/E/G ratio of 1.31 and a beta of 0.12. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, beating the consensus estimate of $1.72 by $0.17. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The company had revenue of $15.76 billion during the quarter, compared to analysts’ expectations of $15.62 billion. During the same period in the prior year, the business posted $2.09 EPS. The business’s revenue was down 6.1% on a year-over-year basis. On average, sell-side analysts predict that ConocoPhillips will post 9.28 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 11th were paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Monday, May 11th. ConocoPhillips’s dividend payout ratio is 57.05%.

ConocoPhillips Company Profile

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.