Mission Wealth Management LP Has $1.79 Million Position in ConocoPhillips (NYSE:COP)

Mission Wealth Management LP lessened its holdings in shares of ConocoPhillips (NYSE:COP) by 2.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 17,043 shares of the energy producer’s stock after selling 446 shares during the period. Mission Wealth Management LP’s holdings in ConocoPhillips were worth $1,790,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in COP. Murphy & Mullick Capital Management Corp acquired a new stake in ConocoPhillips in the 4th quarter valued at about $26,000. Centricity Wealth Management LLC acquired a new position in shares of ConocoPhillips during the fourth quarter worth approximately $27,000. 10Elms LLP bought a new stake in shares of ConocoPhillips during the fourth quarter valued at approximately $28,000. Crowley Wealth Management Inc. acquired a new stake in shares of ConocoPhillips in the fourth quarter valued at approximately $32,000. Finally, Marshall Investment Management LLC bought a new position in ConocoPhillips in the 4th quarter worth approximately $36,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

COP has been the topic of a number of recent research reports. Barclays decreased their price objective on ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Susquehanna decreased their price target on ConocoPhillips from $120.00 to $114.00 and set a “positive” rating on the stock in a report on Monday, May 12th. Bank of America dropped their price objective on ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating for the company in a report on Friday, May 23rd. Wells Fargo & Company reduced their target price on shares of ConocoPhillips from $116.00 to $113.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 14th. Finally, Piper Sandler dropped their price target on shares of ConocoPhillips from $114.00 to $107.00 and set an “overweight” rating for the company in a research note on Tuesday, May 13th. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $121.30.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $95.03 on Tuesday. The company has a fifty day moving average price of $89.16 and a 200 day moving average price of $95.70. The firm has a market cap of $120.13 billion, a PE ratio of 12.20, a PEG ratio of 0.79 and a beta of 0.61. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $118.40.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.04. The company had revenue of $16.18 billion for the quarter, compared to analyst estimates 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 previous year, the company posted $2.05 earnings per share. Research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date was Monday, May 19th. ConocoPhillips’s dividend payout ratio (DPR) is currently 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.