Centaurus Financial Inc. Purchases New Holdings in ConocoPhillips $COP

Centaurus Financial Inc. acquired a new position in shares of ConocoPhillips (NYSE:COP) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 6,275 shares of the energy producer’s stock, valued at approximately $652,000.

A number of other institutional investors also recently made changes to their positions in COP. Pacific Heights Asset Management LLC bought a new stake in shares of ConocoPhillips in the second quarter worth $31,188,000. Coastal Bridge Advisors LLC bought a new position in ConocoPhillips during the 2nd quarter valued at $665,000. Public Employees Retirement System of Ohio bought a new position in ConocoPhillips during the 2nd quarter valued at $49,669,000. MASTERINVEST Kapitalanlage GmbH acquired a new position in ConocoPhillips during the 2nd quarter worth $995,000. Finally, Strive Financial Group LLC increased its position in shares of ConocoPhillips by 252.2% in the 2nd quarter. Strive Financial Group LLC now owns 3,747 shares of the energy producer’s stock worth $390,000 after purchasing an additional 2,683 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

Shares of COP stock opened at $130.46 on Friday. The company has a quick ratio of 1.39, a current ratio of 1.54 and a debt-to-equity ratio of 0.35. The business has a 50 day moving average of $117.42 and a two-hundred day moving average of $118.56. ConocoPhillips has a 52 week low of $85.57 and a 52 week high of $135.88. The company has a market cap of $156.73 billion, a P/E ratio of 17.26, a PEG ratio of 1.36 and a beta of 0.11.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.90 by $0.34. The business had revenue of $19.52 billion for the quarter, compared to analysts’ expectations of $18.79 billion. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.The business’s quarterly revenue was up 32.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.42 EPS. As a group, analysts anticipate that ConocoPhillips will post 10.55 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 17th will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Monday, August 17th. ConocoPhillips’s dividend payout ratio is presently 44.44%.

Insiders Place Their Bets

In other ConocoPhillips news, SVP Andrew D. Lundquist sold 9,487 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $135.15, for a total value of $1,282,168.05. Following the sale, the senior vice president directly owned 9,593 shares of the company’s stock, valued at $1,296,493.95. This trade represents a 49.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.09% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on COP shares. Truist Financial increased their price target on shares of ConocoPhillips from $115.00 to $130.00 and gave the stock a “hold” rating in a research report on Monday, August 10th. Jefferies Financial Group lifted their target price on ConocoPhillips from $160.00 to $161.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. Weiss Ratings upgraded ConocoPhillips from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 6th. The Goldman Sachs Group reduced their price objective on ConocoPhillips from $144.00 to $138.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Finally, Susquehanna lifted their price objective on shares of ConocoPhillips from $155.00 to $161.00 and gave the stock a “positive” rating in a report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $140.29.

ConocoPhillips 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.