Regal Partners Ltd Increases Stock Position in ConocoPhillips (NYSE:COP)

Regal Partners Ltd lifted its holdings in ConocoPhillips (NYSE:COP) by 190.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,223 shares of the energy producer’s stock after buying an additional 31,631 shares during the quarter. ConocoPhillips makes up about 0.5% of Regal Partners Ltd’s holdings, making the stock its 29th biggest holding. Regal Partners Ltd’s holdings in ConocoPhillips were worth $4,782,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Albion Financial Group UT increased its stake in shares of ConocoPhillips by 876.9% during the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after purchasing an additional 228 shares in the last quarter. Murphy & Mullick Capital Management Corp purchased a new position in ConocoPhillips during the fourth quarter valued at $26,000. Centricity Wealth Management LLC bought a new stake in ConocoPhillips in the fourth quarter worth $27,000. Crowley Wealth Management Inc. purchased a new stake in shares of ConocoPhillips in the fourth quarter worth $32,000. Finally, Global Wealth Strategies & Associates increased its holdings in shares of ConocoPhillips by 80.5% during the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after acquiring an additional 153 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the stock. Wells Fargo & Company cut their price objective on shares of ConocoPhillips from $131.00 to $116.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 15th. Truist Financial increased their price target on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a report on Monday, January 13th. Scotiabank decreased their price objective on shares of ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating for the company in a report on Friday, April 11th. Bank of America downgraded ConocoPhillips from a “buy” rating to a “neutral” rating and cut their target price for the company from $138.00 to $107.00 in a research note on Tuesday. Finally, Morgan Stanley reissued an “overweight” rating and issued a $116.00 target price on shares of ConocoPhillips in a report on Tuesday, April 15th. Three research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus price target of $124.79.

ConocoPhillips Trading Down 1.1 %

Shares of COP stock opened at $91.92 on Wednesday. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $129.86. The firm has a fifty day moving average price of $94.22 and a 200-day moving average price of $100.33. The company has a market cap of $116.20 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 0.79 and a beta of 0.83. 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 (NYSE:COP) last issued its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. As a group, equities analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s payout ratio is 40.05%.

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.