ConocoPhillips $COP Position Lowered by Peterson Wealth Services

Peterson Wealth Services trimmed its position in ConocoPhillips (NYSE:COP) by 85.4% in the first quarter, Holdings Channel reports. The firm owned 6,621 shares of the energy producer’s stock after selling 38,799 shares during the quarter. Peterson Wealth Services’ holdings in ConocoPhillips were worth $874,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Concurrent Investment Advisors LLC lifted its holdings in ConocoPhillips by 31.2% in the fourth quarter. Concurrent Investment Advisors LLC now owns 86,171 shares of the energy producer’s stock worth $8,067,000 after acquiring an additional 20,501 shares during the last quarter. D.A. Davidson & CO. raised its position in shares of ConocoPhillips by 10.5% during the 4th quarter. D.A. Davidson & CO. now owns 155,662 shares of the energy producer’s stock worth $14,572,000 after purchasing an additional 14,833 shares during the period. Van ECK Associates Corp boosted its position in ConocoPhillips by 7.9% during the 3rd quarter. Van ECK Associates Corp now owns 195,110 shares of the energy producer’s stock valued at $18,455,000 after purchasing an additional 14,245 shares during the period. Czech National Bank boosted its position in ConocoPhillips by 2.7% during the 4th quarter. Czech National Bank now owns 325,841 shares of the energy producer’s stock valued at $30,502,000 after purchasing an additional 8,635 shares during the period. Finally, BXM Wealth LLC grew its stake in ConocoPhillips by 691.6% during the 4th quarter. BXM Wealth LLC now owns 40,016 shares of the energy producer’s stock worth $3,746,000 after buying an additional 34,961 shares during the last quarter. 82.36% of the stock is owned by institutional investors.

Trending Headlines about ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Crude prices have been supported by renewed Middle East tensions, which can lift ConocoPhillips’ cash flow and earnings expectations because the company is highly leveraged to oil and gas prices.
• Positive Sentiment: Truist raised its price target framework around COP to $115, indicating some Wall Street analysts still see upside from current levels despite a lower target than before.
• Positive Sentiment: Coverage highlighting COP’s growing LNG presence may be helping the investment case by pointing to longer-term growth in liquefied natural gas demand and exports. Article Title
• Neutral Sentiment: Recent articles also noted that COP can move sharply with market-wide risk sentiment and oil headlines, which makes the stock volatile even when there is no company-specific news.
• Negative Sentiment: Truist cut its price target from $128 to $115 and kept a hold rating, signaling a more cautious view on near-term upside and likely weighing on the stock.
• Negative Sentiment: A Zacks article noted COP was lower even as the broader market advanced, suggesting investors were taking profits after the prior oil-driven rally. Article Title

ConocoPhillips Trading Down 2.5%

NYSE:COP opened at $107.93 on Friday. ConocoPhillips has a 1 year low of $85.57 and a 1 year high of $135.87. The stock has a market cap of $131.49 billion, a price-to-earnings ratio of 18.32, a PEG ratio of 1.28 and a beta of 0.12. The business has a fifty day moving average of $114.53 and a 200-day moving average of $112.68. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. The business had revenue of $15.76 billion for the quarter, compared to analysts’ expectations of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The company’s revenue was down 6.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.09 earnings per share. Equities analysts predict that ConocoPhillips will post 9.59 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 11th were paid a dividend of $0.84 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $3.36 annualized dividend and a yield of 3.1%. ConocoPhillips’s dividend payout ratio (DPR) is presently 57.05%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Scotiabank raised their target price on ConocoPhillips from $100.00 to $125.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Zacks Research cut shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. Freedom Capital downgraded shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Piper Sandler boosted their target price on shares of ConocoPhillips from $154.00 to $157.00 and gave the company an “overweight” rating in a research note on Wednesday, April 8th. Finally, UBS Group decreased their target price on shares of ConocoPhillips from $155.00 to $143.00 and set a “buy” rating for the company in a research report on Wednesday. Eighteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $134.04.

ConocoPhillips Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.