Charles Schwab Trust Co Has $1.02 Million Stake in ConocoPhillips (NYSE:COP)

Charles Schwab Trust Co increased its stake in shares of ConocoPhillips (NYSE:COP) by 6.9% during the 1st quarter, HoldingsChannel.com reports. The fund owned 9,684 shares of the energy producer’s stock after acquiring an additional 625 shares during the period. Charles Schwab Trust Co’s holdings in ConocoPhillips were worth $1,017,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in COP. Thrive Wealth Management LLC raised its position in ConocoPhillips by 16.0% during the first quarter. Thrive Wealth Management LLC now owns 3,559 shares of the energy producer’s stock worth $374,000 after acquiring an additional 490 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of ConocoPhillips by 71.8% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 6,279 shares of the energy producer’s stock valued at $660,000 after acquiring an additional 2,625 shares during the period. Cypress Wealth Services LLC increased its stake in shares of ConocoPhillips by 32.8% during the 1st quarter. Cypress Wealth Services LLC now owns 2,779 shares of the energy producer’s stock worth $292,000 after purchasing an additional 686 shares during the last quarter. Naples Global Advisors LLC increased its stake in shares of ConocoPhillips by 3.6% during the 1st quarter. Naples Global Advisors LLC now owns 16,467 shares of the energy producer’s stock worth $1,729,000 after purchasing an additional 565 shares during the last quarter. Finally, HF Advisory Group LLC raised its holdings in shares of ConocoPhillips by 6.7% in the 1st quarter. HF Advisory Group LLC now owns 17,410 shares of the energy producer’s stock valued at $1,828,000 after purchasing an additional 1,094 shares during the period. Institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on COP. Barclays reduced their price target on ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. JPMorgan Chase & Co. reduced their target price on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Piper Sandler decreased their target price on ConocoPhillips from $114.00 to $107.00 and set an “overweight” rating on the stock in a report on Tuesday, May 13th. Scotiabank lowered their price target on shares of ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating on the stock in a report on Friday, April 11th. Finally, Royal Bank of Canada lowered their price objective on ConocoPhillips from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Friday, May 30th. Three equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.63.

ConocoPhillips Trading Down 2.2%

Shares of COP opened at $86.00 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. The firm has a market cap of $108.72 billion, a price-to-earnings ratio of 11.04, a PEG ratio of 0.79 and a beta of 0.61. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $118.40. The business’s fifty day moving average is $89.50 and its 200-day moving average is $96.91.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.04. The company had revenue of $16.18 billion during 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 period in the prior year, the business earned $2.05 earnings per share. Equities analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.63%. The ex-dividend date was Monday, May 19th. ConocoPhillips’s dividend payout ratio (DPR) is currently 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.