Massmutual Trust Co. FSB ADV Buys 1,588 Shares of ConocoPhillips (NYSE:COP)

Massmutual Trust Co. FSB ADV raised its stake in ConocoPhillips (NYSE:COP) by 3.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 46,974 shares of the energy producer’s stock after acquiring an additional 1,588 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in ConocoPhillips were worth $5,373,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cooksen Wealth LLC bought a new position in ConocoPhillips during the fourth quarter valued at $27,000. Sachetta LLC purchased a new stake in shares of ConocoPhillips during the fourth quarter worth $27,000. Richardson Capital Management LLC purchased a new stake in shares of ConocoPhillips during the first quarter worth $31,000. Cape Investment Advisory Inc. lifted its position in shares of ConocoPhillips by 96.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock worth $29,000 after acquiring an additional 121 shares in the last quarter. Finally, Ruedi Wealth Management Inc. lifted its position in shares of ConocoPhillips by 150.0% during the first quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock worth $32,000 after acquiring an additional 150 shares in the last quarter. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Stock Performance

ConocoPhillips stock traded down $1.20 during trading on Monday, reaching $104.57. The company had a trading volume of 8,473,055 shares, compared to its average volume of 5,679,975. The firm’s 50-day simple moving average is $112.75 and its 200 day simple moving average is $117.16. ConocoPhillips has a 52 week low of $102.27 and a 52 week high of $135.18. The company has a current ratio of 1.33, a quick ratio of 1.21 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $122.30 billion, a price-to-earnings ratio of 11.98, a price-to-earnings-growth ratio of 2.14 and a beta of 1.24.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.02. The business had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The company’s revenue was up 9.7% on a year-over-year basis. During the same period last year, the firm posted $1.84 EPS. Sell-side analysts forecast that ConocoPhillips will post 8.73 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, August 12th will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend is Monday, August 12th. ConocoPhillips’s payout ratio is 26.27%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Piper Sandler increased their price objective on ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Wells Fargo & Company lowered their target price on shares of ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating on the stock in a research note on Friday. Truist Financial cut their price target on shares of ConocoPhillips from $147.00 to $145.00 and set a “buy” rating for the company in a research note on Friday. Bank of America restated a “buy” rating and set a $147.00 price objective on shares of ConocoPhillips in a research report on Friday, June 14th. Finally, Susquehanna upped their target price on shares of ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a research report on Monday, April 22nd. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $143.06.

ConocoPhillips 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.