Brookmont Capital Management Raises Holdings in ConocoPhillips (NYSE:COP)

Brookmont Capital Management lifted its stake in ConocoPhillips (NYSE:COP) by 0.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,626 shares of the energy producer’s stock after buying an additional 108 shares during the quarter. ConocoPhillips makes up 2.2% of Brookmont Capital Management’s holdings, making the stock its 14th largest position. Brookmont Capital Management’s holdings in ConocoPhillips were worth $4,153,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its position in ConocoPhillips by 0.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 27,672,104 shares of the energy producer’s stock worth $3,211,901,000 after purchasing an additional 108,956 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of ConocoPhillips by 24.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 23,712,617 shares of the energy producer’s stock valued at $2,752,325,000 after acquiring an additional 4,726,952 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of ConocoPhillips by 2.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 12,011,035 shares of the energy producer’s stock valued at $1,394,162,000 after acquiring an additional 270,859 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of ConocoPhillips by 8.9% during the third quarter. Ameriprise Financial Inc. now owns 8,063,795 shares of the energy producer’s stock valued at $968,410,000 after acquiring an additional 659,632 shares during the last quarter. Finally, Fisher Asset Management LLC raised its holdings in shares of ConocoPhillips by 2.8% during the fourth quarter. Fisher Asset Management LLC now owns 7,425,948 shares of the energy producer’s stock valued at $861,930,000 after acquiring an additional 204,714 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on COP. Barclays increased their price target on ConocoPhillips from $158.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Piper Sandler raised their target price on ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Bank of America reissued a “buy” rating and set a $147.00 target price on shares of ConocoPhillips in a research note on Friday, June 14th. Morgan Stanley raised their target price on ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Finally, Susquehanna raised their target price on ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a research note on Monday, April 22nd. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $144.18.

ConocoPhillips Stock Performance

COP traded up $0.41 on Friday, hitting $114.38. 7,191,744 shares of the company traded hands, compared to its average volume of 5,700,099. The company has a 50 day moving average of $118.30 and a 200-day moving average of $117.53. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $133.77 billion, a PE ratio of 12.95, a PEG ratio of 2.02 and a beta of 1.22. ConocoPhillips has a 12-month low of $99.35 and a 12-month high of $135.18.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.04. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. The company had revenue of $14.48 billion for the quarter, compared to analysts’ expectations of $14.72 billion. Sell-side analysts anticipate that ConocoPhillips will post 8.89 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend was Friday, May 10th. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.27%.

About ConocoPhillips

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.