Tritonpoint Wealth LLC Grows Stock Holdings in ConocoPhillips (NYSE:COP)

Tritonpoint Wealth LLC raised its stake in ConocoPhillips (NYSE:COP) by 4.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,219 shares of the energy producer’s stock after buying an additional 351 shares during the period. Tritonpoint Wealth LLC’s holdings in ConocoPhillips were worth $863,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in COP. Vanguard Group Inc. boosted its position in ConocoPhillips by 11.7% in the 4th quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer’s stock valued at $12,081,491,000 after buying an additional 12,751,120 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of ConocoPhillips by 13.8% in the 4th 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 purchasing an additional 5,549,078 shares in the last quarter. Invesco Ltd. raised its holdings in shares of ConocoPhillips by 37.1% in the 4th quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer’s stock valued at $1,544,101,000 after purchasing an additional 4,211,939 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of ConocoPhillips by 13.7% in the 4th quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer’s stock valued at $2,792,521,000 after purchasing an additional 3,397,360 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of ConocoPhillips by 27.6% in the 4th quarter. Northern Trust Corp now owns 13,757,835 shares of the energy producer’s stock valued at $1,364,364,000 after purchasing an additional 2,971,661 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

COP has been the subject of several recent research reports. Mizuho reduced their price target on shares of ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. Barclays reduced their price target on shares of ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Bank of America reduced their price target on shares of ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating for the company in a report on Friday, May 23rd. JPMorgan Chase & Co. reduced their price target on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Finally, Susquehanna reduced their price objective on shares of ConocoPhillips from $120.00 to $114.00 and set a “positive” rating for the company in a research note on Monday, May 12th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $121.30.

ConocoPhillips Stock Up 2.4%

NYSE:COP opened at $97.00 on Friday. The company has a market cap of $122.63 billion, a PE ratio of 12.45, a P/E/G ratio of 0.79 and a beta of 0.61. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $118.40. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The company’s 50 day moving average is $88.91 and its two-hundred day moving average is $95.87.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.04. The company had revenue of $16.18 billion for the quarter, compared to the consensus estimate of $15.74 billion. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. During the same quarter in the previous year, the firm earned $2.05 EPS. Analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.22%. The ex-dividend date was Monday, May 19th. ConocoPhillips’s dividend payout ratio is presently 39.64%.

About ConocoPhillips

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.