NorthRock Partners LLC Acquires 6,318 Shares of ConocoPhillips (NYSE:COP)

NorthRock Partners LLC boosted its holdings in shares of ConocoPhillips (NYSE:COP) by 88.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,444 shares of the energy producer’s stock after buying an additional 6,318 shares during the quarter. NorthRock Partners LLC’s holdings in ConocoPhillips were worth $1,333,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its position in ConocoPhillips by 13.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer’s stock valued at $4,546,706,000 after buying an additional 5,549,078 shares during the period. Leavell Investment Management Inc. grew its position in ConocoPhillips by 59.8% during the fourth quarter. Leavell Investment Management Inc. now owns 19,166 shares of the energy producer’s stock valued at $1,901,000 after buying an additional 7,174 shares during the period. Brookstone Capital Management grew its position in ConocoPhillips by 4.5% during the fourth quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer’s stock valued at $878,000 after buying an additional 383 shares during the period. Heck Capital Advisors LLC purchased a new position in ConocoPhillips during the fourth quarter valued at approximately $1,767,000. Finally, Asset Management One Co. Ltd. lifted its holdings in ConocoPhillips by 11.7% during the fourth quarter. Asset Management One Co. Ltd. now owns 519,371 shares of the energy producer’s stock valued at $50,345,000 after purchasing an additional 54,196 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Trading Down 1.5%

Shares of COP opened at $92.72 on Thursday. The company’s fifty day moving average is $93.29 and its 200 day moving average is $99.20. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $122.11. The stock has a market capitalization of $117.21 billion, a PE ratio of 11.90, a P/E/G ratio of 0.79 and a beta of 0.64. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.04. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. The business had revenue of $16.18 billion for the quarter, compared to analysts’ expectations of $15.74 billion. During the same quarter in the previous year, the business posted $2.05 earnings per share. Sell-side analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date is Monday, May 19th. ConocoPhillips’s dividend payout ratio (DPR) is 39.64%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on COP shares. Royal Bank of Canada lowered their price target on shares of ConocoPhillips from $133.00 to $120.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. Piper Sandler lowered their price target on shares of ConocoPhillips from $114.00 to $107.00 and set an “overweight” rating on the stock in a report on Tuesday. Bank of America downgraded shares of ConocoPhillips from a “buy” rating to a “neutral” rating and lowered their price target for the company from $138.00 to $107.00 in a report on Tuesday, April 29th. Wells Fargo & Company lowered their price target on shares of ConocoPhillips from $116.00 to $113.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Mizuho lowered their price target on shares of ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating on the stock in a report on Tuesday. Three analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $122.74.

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.