MRP Capital Investments LLC Increases Stake in ConocoPhillips (NYSE:COP)

MRP Capital Investments LLC raised its holdings in shares of ConocoPhillips (NYSE:COP) by 4.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,430 shares of the energy producer’s stock after buying an additional 100 shares during the quarter. MRP Capital Investments LLC’s holdings in ConocoPhillips were worth $278,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Valued Wealth Advisors LLC grew its stake in ConocoPhillips by 45.8% during the 1st quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock valued at $33,000 after acquiring an additional 82 shares in the last quarter. Astoria Portfolio Advisors LLC. grew its position in shares of ConocoPhillips by 4.0% in the first quarter. Astoria Portfolio Advisors LLC. now owns 2,232 shares of the energy producer’s stock valued at $291,000 after purchasing an additional 85 shares in the last quarter. Manchester Capital Management LLC increased its holdings in shares of ConocoPhillips by 22.1% in the first quarter. Manchester Capital Management LLC now owns 475 shares of the energy producer’s stock valued at $60,000 after purchasing an additional 86 shares during the last quarter. Adirondack Trust Co. lifted its position in ConocoPhillips by 3.1% during the fourth quarter. Adirondack Trust Co. now owns 2,990 shares of the energy producer’s stock worth $336,000 after buying an additional 90 shares in the last quarter. Finally, Mayfair Advisory Group LLC lifted its position in ConocoPhillips by 3.5% during the first quarter. Mayfair Advisory Group LLC now owns 2,627 shares of the energy producer’s stock worth $334,000 after buying an additional 90 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Price Performance

COP stock opened at $108.64 on Thursday. The business’s fifty day moving average price is $109.89 and its 200 day moving average price is $116.59. ConocoPhillips has a 12-month low of $101.29 and a 12-month high of $135.18. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $126.16 billion, a PE ratio of 12.30, a P/E/G ratio of 0.78 and a beta of 1.22.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The company had revenue of $14.14 billion for the quarter, compared to analyst estimates of $14.96 billion. During the same period in the prior year, the firm earned $1.84 earnings per share. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, sell-side analysts anticipate that ConocoPhillips will post 8.41 EPS for the current year.

ConocoPhillips Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were issued a dividend of $0.58 per share. The ex-dividend date was Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a yield of 2.14%. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.27%.

Analysts Set New Price Targets

Several analysts have issued reports on COP shares. Susquehanna dropped their target price on ConocoPhillips from $154.00 to $147.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. UBS Group dropped their price objective on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 target price on shares of ConocoPhillips in a research note on Friday, September 13th. Barclays increased their price target on shares of ConocoPhillips from $158.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Finally, Truist Financial reduced their price target on shares of ConocoPhillips from $147.00 to $145.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Five equities research 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. According to MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus price target of $142.29.

Insider Buying and Selling at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of the stock in a transaction 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 sale, the director now directly owns 455,909 shares in the company, valued at $49,288,321.99. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.34% of the stock is currently owned by corporate insiders.

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, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.