Fifth Third Wealth Advisors LLC Buys 2,461 Shares of ConocoPhillips (NYSE:COP)

Fifth Third Wealth Advisors LLC increased its stake in ConocoPhillips (NYSE:COP) by 64.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,278 shares of the energy producer’s stock after purchasing an additional 2,461 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in ConocoPhillips were worth $799,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of COP. Orion Capital Management LLC bought a new position in ConocoPhillips in the 3rd quarter worth $27,000. West Branch Capital LLC raised its holdings in ConocoPhillips by 87.8% in the 4th 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 purchased a new stake in ConocoPhillips in the 4th quarter worth $27,000. Cooksen Wealth LLC purchased a new stake in ConocoPhillips in the 4th quarter worth $27,000. Finally, Cape Investment Advisory Inc. increased its stake in ConocoPhillips by 96.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock worth $29,000 after buying an additional 121 shares in the last quarter. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Trading Up 0.3 %

COP traded up $0.39 on Thursday, hitting $114.00. The company had a trading volume of 3,846,496 shares, compared to its average volume of 5,687,968. The company has a market cap of $133.33 billion, a PE ratio of 12.91, a PEG ratio of 2.05 and a beta of 1.22. ConocoPhillips has a 12-month low of $99.35 and a 12-month 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’s fifty day simple moving average is $118.87 and its 200 day simple moving average is $117.54.

ConocoPhillips (NYSE:COP) last released 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. The company had revenue of $14.48 billion during the quarter, compared to analyst estimates of $14.72 billion. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. Equities research analysts expect that ConocoPhillips will post 8.89 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.74%. The ex-dividend date was Friday, May 10th. ConocoPhillips’s payout ratio is currently 26.27%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on COP. Piper Sandler increased their price target on ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Truist Financial increased their price target on ConocoPhillips from $160.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, June 3rd. Morgan Stanley increased their price target on ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Argus upgraded ConocoPhillips to a “strong-buy” rating in a research note on Friday, June 7th. Finally, Royal Bank of Canada increased their price target on ConocoPhillips from $135.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 15th. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and an average target price of $144.18.

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.