ConocoPhillips (NYSE:COP) Shares Sold by Nwam LLC

Nwam LLC lowered its stake in shares of ConocoPhillips (NYSE:COP) by 5.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,261 shares of the energy producer’s stock after selling 332 shares during the quarter. Nwam LLC’s holdings in ConocoPhillips were worth $652,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Forum Financial Management LP boosted its holdings in ConocoPhillips by 12.3% in the first quarter. Forum Financial Management LP now owns 20,363 shares of the energy producer’s stock worth $2,592,000 after purchasing an additional 2,225 shares during the period. Great Lakes Retirement Inc. boosted its holdings in ConocoPhillips by 21.7% in the first quarter. Great Lakes Retirement Inc. now owns 18,968 shares of the energy producer’s stock worth $2,414,000 after purchasing an additional 3,379 shares during the period. ProVise Management Group LLC boosted its holdings in ConocoPhillips by 5.1% in the first quarter. ProVise Management Group LLC now owns 45,633 shares of the energy producer’s stock worth $5,808,000 after purchasing an additional 2,221 shares during the period. Leo Wealth LLC boosted its holdings in ConocoPhillips by 18.7% in the first quarter. Leo Wealth LLC now owns 6,715 shares of the energy producer’s stock worth $859,000 after purchasing an additional 1,058 shares during the period. Finally, Wilkins Investment Counsel Inc. boosted its holdings in ConocoPhillips by 299.7% in the first quarter. Wilkins Investment Counsel Inc. now owns 22,590 shares of the energy producer’s stock worth $2,875,000 after purchasing an additional 16,938 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock opened at $114.35 on Friday. 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 company’s 50-day moving average price is $114.73 and its two-hundred day moving average price is $117.33. ConocoPhillips has a 52 week low of $105.77 and a 52 week high of $135.18. The stock has a market cap of $133.74 billion, a PE ratio of 12.95, a price-to-earnings-growth ratio of 2.06 and a beta of 1.23.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, May 2nd. The energy producer reported $2.03 EPS for the quarter, topping the consensus estimate of $1.99 by $0.04. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. The firm had revenue of $14.48 billion for the quarter, compared to analysts’ expectations of $14.72 billion. As a group, sell-side analysts anticipate that ConocoPhillips will post 8.81 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on COP. Susquehanna raised their target price on ConocoPhillips from $133.00 to $154.00 and gave the company a “positive” rating in a research note on Monday, April 22nd. Royal Bank of Canada raised their target price on ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, May 15th. Wells Fargo & Company raised their target price on ConocoPhillips from $149.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Raymond James reiterated a “strong-buy” rating and issued a $159.00 target price (up from $155.00) on shares of ConocoPhillips in a research note on Thursday, May 30th. Finally, Truist Financial raised their target price on ConocoPhillips from $160.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, June 3rd. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.29.

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.