Recurrent Investment Advisors LLC Increases Stock Position in ConocoPhillips (NYSE:COP)

Recurrent Investment Advisors LLC boosted its holdings in shares of ConocoPhillips (NYSE:COP) by 111.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 32,436 shares of the energy producer’s stock after acquiring an additional 17,123 shares during the quarter. ConocoPhillips accounts for approximately 0.3% of Recurrent Investment Advisors LLC’s holdings, making the stock its 24th biggest holding. Recurrent Investment Advisors LLC’s holdings in ConocoPhillips were worth $3,217,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Albion Financial Group UT lifted its stake in shares of ConocoPhillips by 876.9% during the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after purchasing an additional 228 shares during the last quarter. Murphy & Mullick Capital Management Corp bought a new position in ConocoPhillips in the fourth quarter worth about $26,000. Centricity Wealth Management LLC bought a new position in ConocoPhillips in the fourth quarter worth about $27,000. Crowley Wealth Management Inc. purchased a new stake in shares of ConocoPhillips during the fourth quarter valued at about $32,000. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of ConocoPhillips in the 4th quarter valued at about $35,000. Institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. UBS Group reduced their price objective on shares of ConocoPhillips from $116.00 to $111.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Barclays decreased their price objective on ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Piper Sandler dropped their target price on ConocoPhillips from $114.00 to $107.00 and set an “overweight” rating on the stock in a research note on Tuesday. Morgan Stanley increased their price target on ConocoPhillips from $116.00 to $118.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. Finally, The Goldman Sachs Group set a $132.00 price target on ConocoPhillips in a research note on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $122.74.

ConocoPhillips Stock Down 1.5%

COP stock opened at $92.72 on Thursday. The company has a market capitalization of $117.21 billion, a P/E ratio of 11.90, a price-to-earnings-growth ratio of 0.79 and a beta of 0.64. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $122.11. The firm’s fifty day simple moving average is $93.29 and its 200-day simple moving average is $99.20. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.05 by $0.04. The company had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. During the same period in the previous year, the firm posted $2.05 earnings per share. As a group, equities research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.36%. The ex-dividend date is Monday, May 19th. ConocoPhillips’s dividend payout ratio (DPR) is 39.64%.

ConocoPhillips Company Profile

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.