Whittier Trust Co. raised its position in ConocoPhillips (NYSE:COP – Free Report) by 9.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 331,133 shares of the energy producer’s stock after acquiring an additional 28,488 shares during the quarter. Whittier Trust Co.’s holdings in ConocoPhillips were worth $43,590,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of COP. Patten Group Inc. increased its holdings in ConocoPhillips by 1.5% during the 1st quarter. Patten Group Inc. now owns 5,447 shares of the energy producer’s stock valued at $719,000 after purchasing an additional 83 shares during the period. Blue Trust Inc. lifted its holdings in ConocoPhillips by 0.4% in the 1st quarter. Blue Trust Inc. now owns 21,144 shares of the energy producer’s stock worth $2,791,000 after buying an additional 92 shares during the period. Nicolet Advisory Services LLC grew its position in shares of ConocoPhillips by 0.9% in the 4th quarter. Nicolet Advisory Services LLC now owns 10,352 shares of the energy producer’s stock worth $989,000 after buying an additional 95 shares during the last quarter. Duncan Williams Asset Management LLC grew its position in shares of ConocoPhillips by 4.4% in the 4th quarter. Duncan Williams Asset Management LLC now owns 2,370 shares of the energy producer’s stock worth $222,000 after buying an additional 100 shares during the last quarter. Finally, Reliant Investment Management LLC increased its stake in shares of ConocoPhillips by 2.8% during the first quarter. Reliant Investment Management LLC now owns 3,646 shares of the energy producer’s stock valued at $481,000 after buying an additional 100 shares during the period. 82.36% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on the company. Raymond James Financial decreased their target price on ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating for the company in a report on Monday, June 1st. Mizuho lifted their price target on shares of ConocoPhillips from $136.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Piper Sandler upped their price objective on shares of ConocoPhillips from $154.00 to $157.00 and gave the stock an “overweight” rating in a report on Wednesday, April 8th. Citigroup raised their target price on shares of ConocoPhillips from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. Finally, Capital One Financial cut their target price on shares of ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating on the stock in a research note on Monday, May 18th. Eighteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus target price of $134.76.
ConocoPhillips Stock Performance
Shares of COP stock opened at $104.64 on Monday. The company has a market capitalization of $127.48 billion, a price-to-earnings ratio of 17.77, a price-to-earnings-growth ratio of 1.20 and a beta of 0.12. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. ConocoPhillips has a one year low of $85.57 and a one year high of $135.87. The company’s 50-day moving average is $115.76 and its 200 day moving average is $112.25.
ConocoPhillips (NYSE:COP – Get Free Report) last issued its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.17. The business had revenue of $15.76 billion during the quarter, compared to analysts’ expectations of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.09 earnings per share. Sell-side analysts expect that ConocoPhillips will post 9.66 EPS for the current fiscal year.
ConocoPhillips Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were given a dividend of $0.84 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $3.36 annualized dividend and a dividend yield of 3.2%. ConocoPhillips’s dividend payout ratio (DPR) is 57.05%.
ConocoPhillips Company Profile
ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.
The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.
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