Sivia Capital Partners LLC Acquires 259 Shares of ConocoPhillips (NYSE:COP)

Sivia Capital Partners LLC increased its holdings in shares of ConocoPhillips (NYSE:COP) by 13.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 2,212 shares of the energy producer’s stock after purchasing an additional 259 shares during the period. Sivia Capital Partners LLC’s holdings in ConocoPhillips were worth $282,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Orion Capital Management LLC bought a new position in ConocoPhillips during the third quarter worth about $27,000. West Branch Capital LLC lifted its position in ConocoPhillips by 87.8% during the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock worth $27,000 after acquiring an additional 108 shares during the last quarter. Cooksen Wealth LLC acquired a new stake in ConocoPhillips during the fourth quarter worth approximately $27,000. Sachetta LLC acquired a new stake in ConocoPhillips during the fourth quarter worth approximately $27,000. Finally, Richardson Capital Management LLC acquired a new stake in ConocoPhillips during the first quarter worth approximately $31,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of NYSE COP traded up $0.34 during midday trading on Wednesday, reaching $114.46. 1,153,209 shares of the company were exchanged, compared to its average volume of 5,635,650. The stock’s 50-day moving average price is $117.68 and its 200-day moving average price is $117.61. The stock has a market cap of $133.86 billion, a P/E ratio of 13.07, a PEG ratio of 2.04 and a beta of 1.24. ConocoPhillips has a one year low of $99.35 and a one year high of $135.18. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.04. The firm had revenue of $14.48 billion for the quarter, compared to analysts’ expectations of $14.72 billion. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. On average, sell-side analysts anticipate that ConocoPhillips will post 8.89 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 13th were paid a $0.78 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $3.12 annualized dividend and a dividend yield of 2.73%. ConocoPhillips’s dividend payout ratio is 26.27%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on COP. Raymond James restated a “strong-buy” rating and set a $159.00 price objective (up from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Mizuho dropped their price target on shares of ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating for the company in a research report on Wednesday, June 5th. Scotiabank lifted their price target on shares of ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a research report on Thursday, April 11th. Piper Sandler lifted their price target on shares of ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Finally, Truist Financial lifted their price target on shares of ConocoPhillips from $160.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, June 3rd. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.18.

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.