Stockman Wealth Management Inc. Cuts Holdings in ConocoPhillips (NYSE:COP)

Stockman Wealth Management Inc. reduced its position in ConocoPhillips (NYSE:COP) by 8.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,680 shares of the energy producer’s stock after selling 336 shares during the quarter. Stockman Wealth Management Inc.’s holdings in ConocoPhillips were worth $386,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Murphy & Mullick Capital Management Corp purchased a new position in shares of ConocoPhillips in the 4th quarter worth $26,000. Centricity Wealth Management LLC purchased a new position in shares of ConocoPhillips in the 4th quarter worth $27,000. 10Elms LLP purchased a new position in shares of ConocoPhillips in the 4th quarter worth $28,000. Crowley Wealth Management Inc. purchased a new position in shares of ConocoPhillips in the 4th quarter worth $32,000. Finally, Marshall Investment Management LLC purchased a new position in shares of ConocoPhillips in the 4th quarter worth $36,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the company. UBS Group cut their price objective on ConocoPhillips from $116.00 to $111.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Piper Sandler cut their price objective on ConocoPhillips from $114.00 to $107.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 13th. Wells Fargo & Company cut their price objective on ConocoPhillips from $116.00 to $113.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 14th. Barclays cut their price objective on ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Finally, Raymond James reissued an “outperform” rating and issued a $109.00 price objective (up from $103.00) on shares of ConocoPhillips in a research report on Tuesday, May 20th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.30.

ConocoPhillips Stock Up 2.4%

Shares of NYSE COP opened at $97.00 on Monday. The firm has a market cap of $122.63 billion, a price-to-earnings ratio of 12.45, a PEG ratio of 0.79 and a beta of 0.61. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $118.40. The stock’s 50-day simple moving average is $88.91 and its 200-day simple moving average is $95.79. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $2.05 by $0.04. The business had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. During the same period last year, the firm earned $2.05 earnings per share. As a group, equities analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were paid a $0.78 dividend. The ex-dividend date was Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a yield of 3.22%. ConocoPhillips’s dividend payout ratio (DPR) is 39.64%.

ConocoPhillips Profile

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.