ConocoPhillips (NYSE:COP) Shares Purchased by Impact Capital Partners LLC

Impact Capital Partners LLC boosted its position in ConocoPhillips (NYSE:COP) by 79.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,836 shares of the energy producer’s stock after purchasing an additional 1,694 shares during the period. Impact Capital Partners LLC’s holdings in ConocoPhillips were worth $403,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Pines Wealth Management LLC increased its holdings in ConocoPhillips by 5.2% in the first quarter. Pines Wealth Management LLC now owns 7,974 shares of the energy producer’s stock valued at $837,000 after buying an additional 394 shares in the last quarter. SeaCrest Wealth Management LLC increased its holdings in ConocoPhillips by 1.6% in the first quarter. SeaCrest Wealth Management LLC now owns 17,352 shares of the energy producer’s stock valued at $1,822,000 after buying an additional 269 shares in the last quarter. Procyon Advisors LLC increased its holdings in ConocoPhillips by 2.6% in the first quarter. Procyon Advisors LLC now owns 19,322 shares of the energy producer’s stock valued at $2,029,000 after buying an additional 484 shares in the last quarter. Curat Global LLC purchased a new position in ConocoPhillips in the first quarter valued at about $54,000. Finally, Vest Financial LLC increased its holdings in ConocoPhillips by 45.8% in the first quarter. Vest Financial LLC now owns 16,418 shares of the energy producer’s stock valued at $1,724,000 after buying an additional 5,158 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

COP has been the subject of a number of recent research reports. Piper Sandler dropped their price objective on shares of ConocoPhillips from $114.00 to $107.00 and set an “overweight” rating for the company in a research note on Tuesday, May 13th. JPMorgan Chase & Co. dropped their price objective on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Bank of America dropped their price objective on shares of ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating for the company in a research note on Friday, May 23rd. Mizuho dropped their price objective on shares of ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating for the company in a research note on Tuesday, May 13th. Finally, Morgan Stanley raised their price objective 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. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.63.

ConocoPhillips Stock Up 2.1%

COP stock opened at $87.18 on Friday. The stock has a market capitalization of $110.21 billion, a P/E ratio of 11.19, a PEG ratio of 0.79 and a beta of 0.61. The company has a 50 day moving average price of $88.74 and a two-hundred day moving average price of $96.42. ConocoPhillips has a one year low of $79.88 and a one year high of $118.40. 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 announced its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.04. The company had revenue of $16.18 billion for the quarter, compared to analyst estimates of $15.74 billion. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. During the same quarter last year, the business earned $2.05 EPS. As a group, sell-side analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were issued a $0.78 dividend. The ex-dividend date was Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.58%. ConocoPhillips’s dividend payout ratio (DPR) is presently 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.