ConocoPhillips (NYSE:COP) Position Increased by Thrive Wealth Management LLC

Thrive Wealth Management LLC increased its position in ConocoPhillips (NYSE:COP) by 7.5% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 3,530 shares of the energy producer’s stock after purchasing an additional 246 shares during the period. Thrive Wealth Management LLC’s holdings in ConocoPhillips were worth $366,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in COP. Fairfield Bush & CO. purchased a new stake in ConocoPhillips in the 1st quarter worth approximately $31,000. Cetera Investment Advisers lifted its position in ConocoPhillips by 4.0% in the 1st quarter. Cetera Investment Advisers now owns 25,399 shares of the energy producer’s stock worth $2,540,000 after buying an additional 968 shares in the last quarter. Baird Financial Group Inc. lifted its position in ConocoPhillips by 1.9% in the 1st quarter. Baird Financial Group Inc. now owns 512,126 shares of the energy producer’s stock worth $51,213,000 after buying an additional 9,313 shares in the last quarter. Zions Bancorporation N.A. lifted its position in ConocoPhillips by 59.1% in the 1st quarter. Zions Bancorporation N.A. now owns 1,810 shares of the energy producer’s stock worth $181,000 after buying an additional 672 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its position in ConocoPhillips by 21.3% in the 1st quarter. Brown Brothers Harriman & Co. now owns 14,063 shares of the energy producer’s stock worth $1,406,000 after buying an additional 2,465 shares in the last quarter. Institutional investors and hedge funds own 80.36% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on COP shares. Wolfe Research upgraded shares of ConocoPhillips from a “peer perform” rating to an “outperform” rating and set a $120.00 price target on the stock in a report on Friday, July 7th. Raymond James cut their price target on shares of ConocoPhillips from $142.00 to $138.00 and set a “strong-buy” rating on the stock in a report on Monday, July 24th. StockNews.com started coverage on shares of ConocoPhillips in a report on Thursday, August 17th. They set a “hold” rating on the stock. Truist Financial raised their price target on shares of ConocoPhillips from $151.00 to $160.00 in a report on Monday. Finally, Erste Group Bank upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating in a report on Friday, September 8th. Five analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.11.

Insider Activity

In other ConocoPhillips news, CEO Ryan Michael Lance sold 569,400 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $122.14, for a total value of $69,546,516.00. Following the transaction, the chief executive officer now directly owns 18,187 shares in the company, valued at $2,221,360.18. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.37% of the stock is owned by company insiders.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock traded up $0.93 during trading on Monday, hitting $124.50. 868,321 shares of the company’s stock traded hands, compared to its average volume of 5,814,604. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.28. The firm’s fifty day moving average price is $116.22 and its 200 day moving average price is $107.25. ConocoPhillips has a twelve month low of $91.53 and a twelve month high of $138.49. The company has a market cap of $149.09 billion, a PE ratio of 12.00, a PEG ratio of 0.78 and a beta of 1.30.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, August 3rd. The energy producer reported $1.84 earnings per share for the quarter, missing the consensus estimate of $1.94 by ($0.10). ConocoPhillips had a net margin of 18.66% and a return on equity of 27.27%. The business had revenue of $12.88 billion for the quarter, compared to analyst estimates of $14.64 billion. During the same quarter last year, the firm posted $3.91 earnings per share. Analysts forecast that ConocoPhillips will post 8.74 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Wednesday, August 16th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Wednesday, September 27th. This represents a $2.04 annualized dividend and a dividend yield of 1.64%. ConocoPhillips’s dividend payout ratio (DPR) is currently 19.65%.

About ConocoPhillips

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States and internationally. 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 global exploration prospects.