Capital Asset Advisory Services LLC Grows Stock Position in ConocoPhillips (NYSE:COP)

Capital Asset Advisory Services LLC boosted its stake in ConocoPhillips (NYSE:COP) by 7.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,542 shares of the energy producer’s stock after acquiring an additional 1,618 shares during the quarter. Capital Asset Advisory Services LLC’s holdings in ConocoPhillips were worth $3,010,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Evergreen Capital Management LLC boosted its holdings in ConocoPhillips by 0.5% in the 3rd quarter. Evergreen Capital Management LLC now owns 18,944 shares of the energy producer’s stock worth $2,270,000 after acquiring an additional 89 shares during the period. Adirondack Trust Co. boosted its stake in shares of ConocoPhillips by 3.1% during the 4th quarter. Adirondack Trust Co. now owns 2,990 shares of the energy producer’s stock valued at $336,000 after buying an additional 90 shares during the last quarter. West Paces Advisors Inc. boosted its stake in shares of ConocoPhillips by 5.9% during the 1st quarter. West Paces Advisors Inc. now owns 1,659 shares of the energy producer’s stock valued at $211,000 after buying an additional 93 shares during the last quarter. Greenfield Savings Bank boosted its stake in shares of ConocoPhillips by 1.3% during the 4th quarter. Greenfield Savings Bank now owns 7,520 shares of the energy producer’s stock valued at $873,000 after buying an additional 94 shares during the last quarter. Finally, Relative Value Partners Group LLC boosted its stake in shares of ConocoPhillips by 2.2% during the 4th quarter. Relative Value Partners Group LLC now owns 4,511 shares of the energy producer’s stock valued at $524,000 after buying an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

COP has been the subject of several research analyst reports. Scotiabank increased their target price on ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a research note on Thursday, April 11th. Piper Sandler increased their target price on ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Wells Fargo & Company increased 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. Argus raised ConocoPhillips to a “strong-buy” rating in a research report on Friday, June 7th. Finally, Mizuho dropped their price target on ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 5th. Four 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.com, ConocoPhillips currently has a consensus rating of “Moderate Buy” and a consensus price target of $144.18.

ConocoPhillips Stock Performance

NYSE COP traded up $0.41 during trading hours on Friday, hitting $114.38. The company had a trading volume of 7,191,744 shares, compared to its average volume of 5,700,099. ConocoPhillips has a fifty-two week low of $99.35 and a fifty-two week high of $135.18. 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 business has a fifty day simple moving average of $118.87 and a 200-day simple moving average of $117.54. The firm has a market cap of $133.77 billion, a P/E ratio of 12.98, a price-to-earnings-growth ratio of 2.02 and a beta of 1.22.

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 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 firm had revenue of $14.48 billion for the quarter, compared to analyst estimates of $14.72 billion. Equities analysts predict that ConocoPhillips will post 8.89 EPS for the current 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 paid a $0.78 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $3.12 annualized dividend and a dividend yield of 2.73%. ConocoPhillips’s payout ratio is 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.