Evercore Wealth Management LLC decreased its stake in shares of ConocoPhillips (NYSE:COP) by 6.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,283 shares of the energy producer’s stock after selling 797 shares during the quarter. Evercore Wealth Management LLC’s holdings in ConocoPhillips were worth $597,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. LPL Financial LLC boosted its holdings in ConocoPhillips by 5.0% in the 4th quarter. LPL Financial LLC now owns 300,059 shares of the energy producer’s stock worth $11,999,000 after buying an additional 14,272 shares during the last quarter. Stifel Financial Corp lifted its stake in shares of ConocoPhillips by 12.2% in the 4th quarter. Stifel Financial Corp now owns 451,678 shares of the energy producer’s stock valued at $18,062,000 after purchasing an additional 49,290 shares during the last quarter. WealthShield Partners LLC acquired a new position in shares of ConocoPhillips in the 4th quarter worth approximately $202,000. ExodusPoint Capital Management LP acquired a new position in shares of ConocoPhillips in the 4th quarter worth approximately $5,915,000. Finally, Janus Henderson Group PLC lifted its stake in ConocoPhillips by 249.7% during the 4th quarter. Janus Henderson Group PLC now owns 955,469 shares of the energy producer’s stock worth $38,209,000 after acquiring an additional 682,274 shares in the last quarter. Hedge funds and other institutional investors own 77.55% of the company’s stock.
A number of research firms have issued reports on COP. Argus increased their price target on ConocoPhillips from $50.00 to $66.00 and gave the company a “buy” rating in a research report on Monday, May 17th. Piper Sandler lifted their price target on shares of ConocoPhillips from $50.00 to $69.00 and gave the stock an “overweight” rating in a research note on Thursday, April 1st. Sanford C. Bernstein lifted their price objective on shares of ConocoPhillips from $63.00 to $80.00 and gave the company an “outperform” rating in a research note on Monday, June 21st. Zacks Investment Research lowered ConocoPhillips from a “strong-buy” rating to a “hold” rating and set a $53.00 target price on the stock. in a report on Tuesday, April 27th. Finally, Royal Bank of Canada raised their price objective on shares of ConocoPhillips from $73.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, July 1st. Two research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $69.77.
COP stock opened at $57.02 on Thursday. ConocoPhillips has a 52-week low of $27.53 and a 52-week high of $63.57. The business’s fifty day simple moving average is $58.56. The company has a quick ratio of 1.88, a current ratio of 2.03 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $76.94 billion, a PE ratio of -380.11, a price-to-earnings-growth ratio of 1.90 and a beta of 1.76.
ConocoPhillips (NYSE:COP) last released its earnings results on Tuesday, May 4th. The energy producer reported $0.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.12. ConocoPhillips had a net margin of 0.08% and a negative return on equity of 1.85%. The business had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $7.73 billion. During the same period last year, the company earned $0.45 earnings per share. As a group, sell-side analysts forecast that ConocoPhillips will post 4.09 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 1st. Investors of record on Monday, July 26th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date is Friday, July 23rd. ConocoPhillips’s payout ratio is currently -177.32%.
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations.
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