Orleans Capital Management Corp LA Decreases Position in ConocoPhillips $COP

Orleans Capital Management Corp LA decreased its holdings in ConocoPhillips (NYSE:COP) by 38.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,175 shares of the energy producer’s stock after selling 7,040 shares during the period. Orleans Capital Management Corp LA’s holdings in ConocoPhillips were worth $1,475,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Capital International Investors grew its stake in ConocoPhillips by 5.9% during the 4th quarter. Capital International Investors now owns 48,360,060 shares of the energy producer’s stock worth $4,527,230,000 after purchasing an additional 2,714,663 shares in the last quarter. AQR Capital Management LLC increased its holdings in ConocoPhillips by 229.2% during the 4th quarter. AQR Capital Management LLC now owns 3,595,177 shares of the energy producer’s stock worth $336,544,000 after purchasing an additional 2,503,156 shares during the period. Charles Schwab Investment Management Inc. raised its position in ConocoPhillips by 6.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 41,450,162 shares of the energy producer’s stock valued at $3,880,151,000 after purchasing an additional 2,350,645 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in ConocoPhillips by 46,105.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,310,281 shares of the energy producer’s stock valued at $304,957,000 after purchasing an additional 2,305,281 shares in the last quarter. Finally, Alyeska Investment Group L.P. purchased a new position in shares of ConocoPhillips in the 3rd quarter valued at about $135,265,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. The Goldman Sachs Group lowered their price objective on ConocoPhillips from $144.00 to $138.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Barclays raised their target price on shares of ConocoPhillips from $136.00 to $155.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Piper Sandler boosted their price target on shares of ConocoPhillips from $154.00 to $157.00 and gave the stock an “overweight” rating in a report on Wednesday, April 8th. Weiss Ratings reissued a “hold (c)” rating on shares of ConocoPhillips in a research report on Wednesday, June 3rd. Finally, Royal Bank Of Canada set a $130.00 price objective on shares of ConocoPhillips in a research report on Monday, June 22nd. Eighteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $134.16.

ConocoPhillips Trading Up 1.3%

COP opened at $120.30 on Friday. ConocoPhillips has a one year low of $85.57 and a one year high of $135.87. The company has a market cap of $146.56 billion, a P/E ratio of 20.42, a PEG ratio of 1.43 and a beta of 0.12. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. The business’s 50-day simple moving average is $113.54 and its 200-day simple moving average is $114.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. The firm had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.09 earnings per share. As a group, equities research analysts expect that ConocoPhillips will post 9.2 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 11th were paid a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 2.8%. The ex-dividend date was Monday, May 11th. ConocoPhillips’s dividend payout ratio is currently 57.05%.

ConocoPhillips Company 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.