Mayfair Advisory Group LLC Lowers Position in ConocoPhillips (NYSE:COP)

Mayfair Advisory Group LLC reduced its stake in ConocoPhillips (NYSE:COP) by 4.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,236 shares of the energy producer’s stock after selling 196 shares during the quarter. Mayfair Advisory Group LLC’s holdings in ConocoPhillips were worth $445,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Cornerstone Wealth Management LLC raised its position in ConocoPhillips by 7.5% in the 1st quarter. Cornerstone Wealth Management LLC now owns 14,989 shares of the energy producer’s stock valued at $1,574,000 after buying an additional 1,040 shares during the last quarter. GSB Wealth Management LLC increased its position in shares of ConocoPhillips by 13.4% during the 1st quarter. GSB Wealth Management LLC now owns 2,325 shares of the energy producer’s stock valued at $244,000 after purchasing an additional 275 shares during the last quarter. Cardinal Capital Management increased its position in shares of ConocoPhillips by 6.4% during the 1st quarter. Cardinal Capital Management now owns 86,367 shares of the energy producer’s stock valued at $9,070,000 after purchasing an additional 5,214 shares during the last quarter. Berkshire Bank increased its position in shares of ConocoPhillips by 8.9% during the 1st quarter. Berkshire Bank now owns 3,613 shares of the energy producer’s stock valued at $379,000 after purchasing an additional 296 shares during the last quarter. Finally, Chicago Capital LLC increased its position in shares of ConocoPhillips by 23.1% during the 1st quarter. Chicago Capital LLC now owns 5,833 shares of the energy producer’s stock valued at $613,000 after purchasing an additional 1,096 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on COP. Barclays decreased their target price on ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Scotiabank decreased their target price on ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating for the company in a research report on Friday, April 11th. Morgan Stanley raised their target price on ConocoPhillips from $116.00 to $118.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Piper Sandler decreased their target price on ConocoPhillips from $114.00 to $107.00 and set an “overweight” rating for the company in a research report on Tuesday, May 13th. Finally, Citigroup decreased their target price on ConocoPhillips from $140.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, June 11th. 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $121.30.

ConocoPhillips Stock Up 0.6%

Shares of NYSE COP opened at $95.54 on Wednesday. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $118.40. The business has a 50-day simple moving average of $89.23 and a two-hundred day simple moving average of $95.69. The company has a quick ratio of 1.13, a current ratio of 1.27 and a debt-to-equity ratio of 0.36. The company has a market cap of $120.78 billion, a P/E ratio of 12.14, a P/E/G ratio of 2.57 and a beta of 0.61.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, topping the consensus estimate of $2.05 by $0.04. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. The business had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. During the same quarter last year, the company earned $2.05 EPS. Research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders 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 annualized dividend and a yield of 3.27%. ConocoPhillips’s dividend payout ratio is currently 39.64%.

Insiders Place Their Bets

In other ConocoPhillips news, EVP Kirk L. Johnson purchased 5,300 shares of the company’s stock in a transaction dated Monday, June 16th. The stock was purchased at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the transaction, the executive vice president now owns 14,527 shares in the company, valued at $1,369,024.48. The trade was a 57.44% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.24% of the stock is owned by corporate insiders.

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.