May Hill Capital LLC Raises Stake in ConocoPhillips $COP

May Hill Capital LLC lifted its stake in shares of ConocoPhillips (NYSE:COP) by 8.6% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 3,046 shares of the energy producer’s stock after acquiring an additional 242 shares during the quarter. May Hill Capital LLC’s holdings in ConocoPhillips were worth $273,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of COP. Bogart Wealth LLC lifted its position in shares of ConocoPhillips by 136.8% during the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock worth $28,000 after buying an additional 182 shares during the last quarter. Activest Wealth Management lifted its position in shares of ConocoPhillips by 249.5% during the 2nd quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock worth $29,000 after buying an additional 232 shares during the last quarter. Financial Network Wealth Advisors LLC lifted its position in shares of ConocoPhillips by 341.5% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock worth $30,000 after buying an additional 222 shares during the last quarter. Stone House Investment Management LLC purchased a new stake in shares of ConocoPhillips during the 1st quarter worth approximately $31,000. Finally, IMA Advisory Services Inc. purchased a new stake in shares of ConocoPhillips during the 1st quarter worth approximately $37,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on COP. Weiss Ratings downgraded shares of ConocoPhillips from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday. Roth Capital reduced their price objective on shares of ConocoPhillips from $108.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, October 15th. Piper Sandler reduced their price objective on shares of ConocoPhillips from $124.00 to $115.00 and set an “overweight” rating for the company in a research report on Monday, October 13th. JPMorgan Chase & Co. lifted their target price on shares of ConocoPhillips from $114.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday, October 9th. Finally, Evercore ISI cut their target price on shares of ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating on the stock in a report on Monday, October 6th. Eighteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $115.63.

ConocoPhillips Price Performance

NYSE:COP opened at $88.71 on Tuesday. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $115.38. The company’s 50-day moving average is $93.22 and its two-hundred day moving average is $91.96. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The firm has a market cap of $110.79 billion, a price-to-earnings ratio of 11.91, a price-to-earnings-growth ratio of 2.35 and a beta of 0.62.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.06. The company had revenue of $14.94 billion during the quarter, compared to the consensus estimate of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.98 EPS. Research analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were issued a $0.78 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.12 annualized dividend and a yield of 3.5%. ConocoPhillips’s dividend payout ratio is currently 41.88%.

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.