Ashton Thomas Private Wealth LLC Buys 3,080 Shares of ConocoPhillips (NYSE:COP)

Ashton Thomas Private Wealth LLC lifted its position in ConocoPhillips (NYSE:COP) by 44.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 10,042 shares of the energy producer’s stock after purchasing an additional 3,080 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in ConocoPhillips were worth $1,278,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Orion Capital Management LLC bought a new stake in shares of ConocoPhillips during the third quarter worth $27,000. West Branch Capital LLC lifted its position in ConocoPhillips by 87.8% during the 4th quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock worth $27,000 after buying an additional 108 shares in the last quarter. Sachetta LLC bought a new stake in ConocoPhillips during the 4th quarter worth about $27,000. Cooksen Wealth LLC acquired a new stake in ConocoPhillips in the 4th quarter valued at about $27,000. Finally, Cape Investment Advisory Inc. raised its stake in shares of ConocoPhillips by 96.0% in 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 during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Down 1.5 %

Shares of NYSE COP traded down $1.69 during mid-day trading on Friday, reaching $113.08. 877,839 shares of the company’s stock were exchanged, compared to its average volume of 5,607,643. ConocoPhillips has a twelve month low of $99.35 and a twelve month high of $135.18. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $132.25 billion, a price-to-earnings ratio of 13.00, a PEG ratio of 2.05 and a beta of 1.23. The business has a fifty day simple moving average of $117.09 and a 200 day simple moving average of $117.57.

ConocoPhillips (NYSE:COP) last announced its 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. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. The firm had revenue of $14.48 billion for the quarter, compared to the consensus estimate of $14.72 billion. As a group, equities analysts expect that ConocoPhillips will post 8.89 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 13th were given a $0.78 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $3.12 annualized dividend and a yield of 2.76%. ConocoPhillips’s dividend payout ratio is currently 26.27%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on COP shares. Wells Fargo & Company increased their price target on shares of ConocoPhillips from $149.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Royal Bank of Canada increased their price objective on ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, May 15th. Argus upgraded ConocoPhillips to a “strong-buy” rating in a research report on Friday, June 7th. Morgan Stanley upped their price target on ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Finally, Bank of America reiterated a “buy” rating and issued a $147.00 price objective on shares of ConocoPhillips in a research report on Friday, June 14th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus price target 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.