Caprock Group Llc has $3.35M position in ConocoPhillips (NYSE:COP)

VaselineSeptember 9, 2024

0 4 minutes read

ConocoPhillips logo Caprock Group LLC raised its position in ConocoPhillips (NYSE:COP – Free Report) by 251.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,261 shares of the energy producer’s stock after acquiring an additional 20,927 shares during the period. Caprock Group LLC’s holdings in ConocoPhillips were worth $3,347,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Kerusso Capital Management LLC acquired a new stake in shares of ConocoPhillips in the second quarter valued at approximately $2,565,000. Fiducient Advisors LLC acquired a new stake in shares of ConocoPhillips in the second quarter valued at approximately $300,000. Acadian Asset Management LLC boosted its stake in ConocoPhillips by 5,787.6% in the second quarter. Acadian Asset Management LLC now owns 24,728 shares of the energy producer’s stock valued at $2,827,000 after buying an additional 24,308 shares during the period. Strategic Financial Concepts LLC boosted its stake in ConocoPhillips by 3,135.5% in the second quarter. Strategic Financial Concepts LLC now owns 117,903 shares of the energy producer’s stock valued at $135,000 after buying an additional 114,259 shares during the period. Finally, Norden Group LLC raised its stake in shares of ConocoPhillips by 9.6% in the second quarter. Norden Group LLC now owns 7,970 shares of the energy producer’s stock valued at $912,000 after buying an additional 700 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s shares.

Indoor activity

In other news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total value of $6,000,105.00. Following the transaction, the director now owns 455,909 shares in the company, valued at $49,288,321.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. Corporate insiders own 0.34% of the company’s shares.

ConocoPhillips stock falls 1.3%

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Shares of NYSE:COP opened at $106.02 on Monday. ConocoPhillips has a 52 week low of $102.27 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 company’s 50-day simple moving average is $111.20, and its two-hundred-day simple moving average is $117.02. The firm has a market cap of $123.12 billion, a P/E ratio of 12.01, a PEG ratio of 0.80 and a beta of 1.22.

ConocoPhillips (NYSE:COP – Get Your Free Report ) last posted its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The company had revenue of $14.14 billion for the quarter, compared to analyst estimates of $14.96 billion. In the same quarter last year, the company earned $1.84 per share. The company’s revenue for the quarter was up 9.7% year over year. As a group, research analysts forecast that ConocoPhillips will post 8.42 EPS for the current fiscal year.

ConocoPhillips cuts dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were issued a $0.58 dividend. The ex-dividend date of this dividend was Monday, August 12. This represents a dividend of $2.32 on an annualized basis and a dividend yield of 2.19%. ConocoPhillips’s dividend payout ratio is currently 26.27%.

Changes in Analyst Ratings

Several equities research analysts recently weighed in on COP shares. Bank of America reissued a “buy” rating and issued a $147.00 target price on shares of ConocoPhillips in a research note on Friday, June 14th. UBS Group raised their target price on ConocoPhillips from $151.00 to $153.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Mizuho cut their price target on ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating for the company in a research note on Wednesday, June 5th. Scotiabank reduced their price target on ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. Finally, Wolfe Research assumed coverage on ConocoPhillips in a research note on Thursday, July 18th. They set an “outperform” rating and a $145.00 price target for the company. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Moderate Buy” and a consensus price target of $143.24, according to MarketBeat.

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ConocoPhillips Company Profile

(Free report)

ConocoPhillips explores, 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 parts from North America; conventional assets in North America, Europe, Asia and Australia; global LNG developments; Canadian oil sands assets; and an inventory of global exploration prospects.