Valley National Advisers Inc. Lowers Holdings in ConocoPhillips (NYSE:COP)

Valley National Advisers Inc. decreased its position in ConocoPhillips (NYSE:COP) by 12.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 749 shares of the energy producer’s stock after selling 104 shares during the quarter. Valley National Advisers Inc.’s holdings in ConocoPhillips were worth $95,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Orion Capital Management LLC acquired a new stake in ConocoPhillips in the third quarter valued at approximately $27,000. West Branch Capital LLC raised its holdings in ConocoPhillips by 87.8% in the fourth 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 in the last quarter. Sachetta LLC acquired a new stake in ConocoPhillips during the fourth quarter worth approximately $27,000. Cooksen Wealth LLC acquired a new stake in ConocoPhillips during the fourth quarter worth approximately $27,000. Finally, Cape Investment Advisory Inc. raised its holdings 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. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on COP shares. Truist Financial raised their price objective on shares of ConocoPhillips from $160.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, June 3rd. Barclays raised their price objective on shares of ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Argus raised shares of ConocoPhillips to a “strong-buy” rating in a report on Friday, June 7th. Morgan Stanley raised their target price on shares of ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Finally, Raymond James reiterated a “strong-buy” rating and issued a $159.00 price objective (up from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Four investment 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $144.18.

ConocoPhillips Price Performance

Shares of NYSE COP traded up $0.65 during trading on Wednesday, hitting $114.77. 2,326,037 shares of the company were exchanged, compared to its average volume of 5,644,886. The company has a market cap of $134.23 billion, a price-to-earnings ratio of 13.07, a PEG ratio of 2.04 and a beta of 1.24. ConocoPhillips has a 1 year low of $99.35 and a 1 year high of $135.18. The firm’s fifty day moving average price is $117.68 and its 200 day moving average price is $117.61. 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 quarterly earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.04. The business had revenue of $14.48 billion during the quarter, compared to the consensus estimate of $14.72 billion. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. On average, sell-side analysts expect that ConocoPhillips will post 8.89 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 13th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.72%. The ex-dividend date was Friday, May 10th. ConocoPhillips’s payout ratio is 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.