Iams Wealth Management LLC Acquires 321 Shares of ConocoPhillips (NYSE:COP)

Iams Wealth Management LLC lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 1.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,023 shares of the energy producer’s stock after purchasing an additional 321 shares during the quarter. Iams Wealth Management LLC’s holdings in ConocoPhillips were worth $2,208,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in COP. Tallon Kerry Patrick bought a new position in ConocoPhillips in the fourth quarter valued at approximately $511,000. Chicago Partners Investment Group LLC increased its stake in ConocoPhillips by 12.1% in the fourth quarter. Chicago Partners Investment Group LLC now owns 6,827 shares of the energy producer’s stock valued at $694,000 after acquiring an additional 737 shares during the last quarter. DAVENPORT & Co LLC increased its stake in ConocoPhillips by 2.8% in the fourth quarter. DAVENPORT & Co LLC now owns 56,441 shares of the energy producer’s stock valued at $5,597,000 after acquiring an additional 1,552 shares during the last quarter. Spire Wealth Management grew its stake in shares of ConocoPhillips by 2.0% during the fourth quarter. Spire Wealth Management now owns 16,870 shares of the energy producer’s stock worth $1,673,000 after buying an additional 323 shares during the last quarter. Finally, Chicago Capital LLC grew its stake in shares of ConocoPhillips by 18.8% during the fourth quarter. Chicago Capital LLC now owns 4,737 shares of the energy producer’s stock worth $470,000 after buying an additional 750 shares during the last quarter. 82.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

COP has been the topic of a number of research reports. Royal Bank of Canada decreased their target price on shares of ConocoPhillips from $120.00 to $115.00 and set an “outperform” rating on the stock in a research note on Friday, May 30th. Mizuho decreased their target price on shares of ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. Morgan Stanley boosted their target price on shares of ConocoPhillips from $116.00 to $118.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Susquehanna cut their price target on shares of ConocoPhillips from $120.00 to $114.00 and set a “positive” rating on the stock in a report on Monday, May 12th. Finally, Raymond James reiterated an “outperform” rating and set a $109.00 price target (up previously from $103.00) on shares of ConocoPhillips in a report on Tuesday, May 20th. Three equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.63.

ConocoPhillips Trading Up 1.4%

COP opened at $87.92 on Wednesday. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $118.40. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The company has a market cap of $111.15 billion, a P/E ratio of 11.29, a price-to-earnings-growth ratio of 0.79 and a beta of 0.64. The company has a fifty day moving average price of $89.83 and a two-hundred day moving average price of $96.99.

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

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.55%. The ex-dividend date was Monday, May 19th. ConocoPhillips’s dividend payout ratio (DPR) is presently 39.64%.

ConocoPhillips Company 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.