Advisory Alpha LLC Acquires 100 Shares of ConocoPhillips (NYSE:COP)

Advisory Alpha LLC grew its holdings in shares of ConocoPhillips (NYSE:COP) by 1.2% in the first quarter, Holdings Channel.com reports. The firm owned 8,598 shares of the energy producer’s stock after buying an additional 100 shares during the period. Advisory Alpha LLC’s holdings in ConocoPhillips were worth $1,094,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. West Branch Capital LLC boosted its position in ConocoPhillips by 87.8% during the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock worth $27,000 after purchasing an additional 108 shares during the period. Sachetta LLC bought a new position in shares of ConocoPhillips in the fourth quarter valued at approximately $27,000. Cooksen Wealth LLC bought a new position in shares of ConocoPhillips in the fourth quarter valued at approximately $27,000. Cape Investment Advisory Inc. boosted its position in shares of ConocoPhillips by 96.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 121 shares during the period. Finally, Richardson Capital Management LLC bought a new position in shares of ConocoPhillips in the first quarter valued at approximately $31,000. Institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on COP shares. Royal Bank of Canada lifted their target price on shares of ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, May 15th. Wells Fargo & Company lifted their target price on shares of ConocoPhillips from $149.00 to $151.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. StockNews.com downgraded shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Monday. Mizuho cut their price target on shares of ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating on the stock in a report on Wednesday, June 5th. Finally, Truist Financial boosted their target price on shares of ConocoPhillips from $160.00 to $165.00 and gave the company a “buy” rating in a report on Monday, June 3rd. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $145.69.

ConocoPhillips Stock Performance

NYSE:COP traded down $0.67 during mid-day trading on Friday, reaching $113.32. The company’s stock had a trading volume of 483,841 shares, compared to its average volume of 5,555,947. ConocoPhillips has a 12-month low of $105.77 and a 12-month high of $135.18. The firm’s fifty day moving average price is $115.68 and its two-hundred day moving average price is $117.43. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.35. The stock has a market cap of $132.53 billion, a P/E ratio of 12.91, a PEG ratio of 2.01 and a beta of 1.23.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.04. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. The business had revenue of $14.48 billion during the quarter, compared to analyst estimates of $14.72 billion. On average, equities analysts forecast that ConocoPhillips will post 8.89 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend was Friday, May 10th. ConocoPhillips’s payout ratio is currently 26.27%.

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.