Signet Financial Management LLC Acquires 1,004 Shares of ConocoPhillips (NYSE:COP)

Signet Financial Management LLC increased its holdings in ConocoPhillips (NYSE:COP) by 4.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,253 shares of the energy producer’s stock after purchasing an additional 1,004 shares during the quarter. Signet Financial Management LLC’s holdings in ConocoPhillips were worth $2,757,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Murphy & Mullick Capital Management Corp bought a new stake in shares of ConocoPhillips in the fourth quarter worth $26,000. Centricity Wealth Management LLC bought a new stake in ConocoPhillips during the fourth quarter valued at $27,000. 10Elms LLP bought a new stake in ConocoPhillips during the fourth quarter valued at $28,000. Crowley Wealth Management Inc. bought a new stake in ConocoPhillips during the fourth quarter valued at $32,000. Finally, Wingate Wealth Advisors Inc. bought a new stake in ConocoPhillips during the fourth quarter valued at $36,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Up 0.9%

COP opened at $88.03 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $118.40. The firm has a market capitalization of $111.29 billion, a PE ratio of 11.30, a P/E/G ratio of 0.79 and a beta of 0.61. The company’s 50-day moving average is $88.38 and its 200 day moving average is $96.15.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, topping 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 company had revenue of $16.18 billion for the quarter, compared to analyst estimates of $15.74 billion. During the same quarter in the prior year, the business posted $2.05 EPS. As a group, research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued a $0.78 dividend. The ex-dividend date was Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.54%. ConocoPhillips’s dividend payout ratio is presently 39.64%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Susquehanna cut their price target on shares of ConocoPhillips from $120.00 to $114.00 and set a “positive” rating on the stock in a research report on Monday, May 12th. Barclays cut their price target on shares of ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Piper Sandler cut their price target on shares of ConocoPhillips from $114.00 to $107.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 13th. JPMorgan Chase & Co. cut their price target on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Finally, Mizuho cut their price objective on shares of ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Three investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus target price of $121.63.

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.