Register Financial Advisors LLC Boosts Position in ConocoPhillips (NYSE:COP)

Register Financial Advisors LLC raised its holdings in ConocoPhillips (NYSE:COP) by 1.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,706 shares of the energy producer’s stock after purchasing an additional 292 shares during the quarter. ConocoPhillips accounts for approximately 1.0% of Register Financial Advisors LLC’s investment portfolio, making the stock its 21st biggest holding. Register Financial Advisors LLC’s holdings in ConocoPhillips were worth $1,999,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Orion Capital Management LLC acquired a new stake in ConocoPhillips during the third quarter valued at $27,000. West Branch Capital LLC grew its position in shares of ConocoPhillips by 87.8% during the 4th quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after acquiring an additional 108 shares during the period. Cooksen Wealth LLC purchased a new position in shares of ConocoPhillips in the 4th quarter valued at about $27,000. Sachetta LLC acquired a new position in ConocoPhillips in the 4th quarter worth about $27,000. Finally, Cape Investment Advisory Inc. boosted its position in 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 purchasing an additional 121 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Piper Sandler boosted their target price on shares of ConocoPhillips from $145.00 to $157.00 and gave the stock 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 report on Friday, May 3rd. Bank of America reaffirmed a “buy” rating and issued a $147.00 price target on shares of ConocoPhillips in a research note on Friday, June 14th. Argus raised ConocoPhillips to a “strong-buy” rating in a research note on Friday, June 7th. Finally, Truist Financial lifted their target price on shares of ConocoPhillips from $160.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, June 3rd. Four research 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $144.18.

ConocoPhillips Stock Up 0.4 %

Shares of NYSE COP traded up $0.41 during mid-day trading 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. The company has a market capitalization of $133.77 billion, a PE ratio of 12.95, a price-to-earnings-growth ratio of 2.02 and a beta of 1.22. The business’s 50-day simple moving average is $118.30 and its 200 day simple moving average is $117.53. ConocoPhillips has a 1-year low of $99.35 and a 1-year high of $135.18. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.35 and a quick ratio of 1.21.

ConocoPhillips (NYSE:COP) last released 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. The firm had revenue of $14.48 billion for the quarter, compared to analyst estimates of $14.72 billion. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. On average, analysts predict that ConocoPhillips will post 8.89 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date was Friday, May 10th. This represents a $3.12 annualized dividend and a dividend yield of 2.73%. ConocoPhillips’s dividend 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.