Massachusetts Wealth Management Has $3.06 Million Stake in ConocoPhillips (NYSE:COP)

Massachusetts Wealth Management lowered its position in ConocoPhillips (NYSE:COP) by 1.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,088 shares of the energy producer’s stock after selling 420 shares during the period. ConocoPhillips comprises about 2.1% of Massachusetts Wealth Management’s portfolio, making the stock its 11th largest position. Massachusetts Wealth Management’s holdings in ConocoPhillips were worth $3,055,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Gray Wealth Management Inc. boosted its position in shares of ConocoPhillips by 5.0% in the fourth quarter. Gray Wealth Management Inc. now owns 2,171 shares of the energy producer’s stock valued at $215,000 after acquiring an additional 104 shares during the period. Plancorp LLC grew its stake in shares of ConocoPhillips by 2.7% during the fourth quarter. Plancorp LLC now owns 4,018 shares of the energy producer’s stock valued at $399,000 after buying an additional 104 shares during the last quarter. Thompson Siegel & Walmsley LLC increased its stake in ConocoPhillips by 3.7% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 2,912 shares of the energy producer’s stock worth $289,000 after purchasing an additional 105 shares during the period. Councilmark Asset Management LLC increased its stake in shares of ConocoPhillips by 0.5% in the fourth quarter. Councilmark Asset Management LLC now owns 19,639 shares of the energy producer’s stock worth $1,948,000 after buying an additional 106 shares during the period. Finally, Second Line Capital LLC raised its stake in shares of ConocoPhillips by 2.2% during the fourth quarter. Second Line Capital LLC now owns 4,990 shares of the energy producer’s stock valued at $495,000 after acquiring an additional 108 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Up 2.4%

COP opened at $97.00 on Friday. The firm has a market cap of $122.63 billion, a P/E ratio of 12.45, a PEG ratio of 0.79 and a beta of 0.61. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $118.40. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The business’s fifty day simple moving average is $88.91 and its 200 day simple moving average is $95.87.

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

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were given a dividend of $0.78 per share. The ex-dividend date was Monday, May 19th. This represents a $3.12 annualized dividend and a dividend yield of 3.22%. ConocoPhillips’s payout ratio is 39.64%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on COP. Royal Bank of Canada cut their price objective on ConocoPhillips from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Friday, May 30th. Susquehanna reduced their price objective on shares of ConocoPhillips from $120.00 to $114.00 and set a “positive” rating for the company in a research note on Monday, May 12th. Citigroup decreased their price target on ConocoPhillips from $140.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday. Mizuho lowered their price objective on shares of ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Finally, Raymond James reissued an “outperform” rating and issued a $109.00 target price (up previously from $103.00) on shares of ConocoPhillips in a report on Tuesday, May 20th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.30.

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.