Royal Capital Wealth Management LLC Takes Position in ConocoPhillips (NYSE:COP)

Royal Capital Wealth Management LLC acquired a new stake in ConocoPhillips (NYSE:COP) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 2,405 shares of the energy producer’s stock, valued at approximately $239,000.

Several other hedge funds also recently modified their holdings of the stock. Tallon Kerry Patrick bought a new position in ConocoPhillips during the fourth quarter worth about $511,000. Wedge Capital Management L L P NC grew its holdings in ConocoPhillips by 18.1% during the fourth quarter. Wedge Capital Management L L P NC now owns 2,561 shares of the energy producer’s stock worth $254,000 after purchasing an additional 393 shares during the period. Ameritas Advisory Services LLC grew its holdings in ConocoPhillips by 126.4% during the fourth quarter. Ameritas Advisory Services LLC now owns 15,354 shares of the energy producer’s stock worth $1,523,000 after purchasing an additional 8,572 shares during the period. Evanson Asset Management LLC bought a new position in ConocoPhillips during the fourth quarter worth about $239,000. Finally, Gilman Hill Asset Management LLC bought a new position in ConocoPhillips during the fourth quarter worth about $217,000. Institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Piper Sandler reduced their price target on ConocoPhillips from $114.00 to $107.00 and set an “overweight” rating for the company in a report on Tuesday, May 13th. Mizuho reduced their price objective on ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. Scotiabank reduced their price objective on ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating for the company in a report on Friday, April 11th. Barclays reduced 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. Finally, JPMorgan Chase & Co. reduced their price objective on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Three equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.95.

ConocoPhillips Stock Performance

NYSE COP opened at $89.63 on Wednesday. The company has a market capitalization of $113.31 billion, a price-to-earnings ratio of 11.51, a PEG ratio of 0.79 and a beta of 0.64. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $121.73. The stock has a fifty day simple moving average of $92.96 and a 200 day simple moving average of $98.77. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.04. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. The firm had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. During the same period last year, the business posted $2.05 EPS. Sell-side analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be paid a $0.78 dividend. The ex-dividend date is Monday, May 19th. This represents a $3.12 annualized dividend and a dividend yield of 3.48%. ConocoPhillips’s dividend payout ratio is presently 39.64%.

ConocoPhillips 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.