Northeast Financial Consultants Inc Raises Position in ConocoPhillips (NYSE:COP)

Northeast Financial Consultants Inc raised its holdings in shares of ConocoPhillips (NYSE:COP) by 2.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,361 shares of the energy producer’s stock after buying an additional 122 shares during the period. Northeast Financial Consultants Inc’s holdings in ConocoPhillips were worth $432,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of COP. Orrstown Financial Services Inc. increased its holdings in ConocoPhillips by 3.0% in the fourth quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer’s stock valued at $331,000 after buying an additional 96 shares in the last quarter. Principle Wealth Partners LLC boosted its stake in shares of ConocoPhillips by 0.3% during the 4th quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer’s stock worth $3,695,000 after acquiring an additional 100 shares in the last quarter. Arlington Trust Co LLC grew its position in shares of ConocoPhillips by 1.2% during the 4th quarter. Arlington Trust Co LLC now owns 8,640 shares of the energy producer’s stock valued at $857,000 after acquiring an additional 102 shares during the period. Gray Wealth Management Inc. increased its stake in shares of ConocoPhillips by 5.0% in the 4th quarter. Gray Wealth Management Inc. now owns 2,171 shares of the energy producer’s stock valued at $215,000 after purchasing an additional 104 shares in the last quarter. Finally, Plancorp LLC raised its holdings in ConocoPhillips by 2.7% in the 4th quarter. Plancorp LLC now owns 4,018 shares of the energy producer’s stock worth $399,000 after purchasing an additional 104 shares during the period. 82.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on COP. Susquehanna dropped their price objective on ConocoPhillips from $120.00 to $114.00 and set a “positive” rating on the stock in a report on Monday. Raymond James cut shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and dropped their price target for the company from $157.00 to $124.00 in a research note on Monday, February 10th. Royal Bank of Canada cut their price target on shares of ConocoPhillips from $133.00 to $120.00 and set an “outperform” rating for the company in a report on Monday, April 14th. Wells Fargo & Company decreased their price objective on shares of ConocoPhillips from $131.00 to $116.00 and set an “overweight” rating on the stock in a report on Tuesday, April 15th. Finally, Piper Sandler cut their target price on shares of ConocoPhillips from $114.00 to $107.00 and set an “overweight” rating for the company in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and an average price target of $122.89.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $94.19 on Wednesday. The business’s 50 day moving average price is $93.25 and its 200 day moving average price is $99.24. The company has a market cap of $119.07 billion, a price-to-earnings ratio of 12.09, a PEG ratio of 0.79 and a beta of 0.64. 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 has a one year low of $79.88 and a one year high of $122.17.

ConocoPhillips (NYSE:COP) last posted its quarterly 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. The business had revenue of $16.18 billion for the quarter, compared to analyst estimates of $15.74 billion. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. During the same quarter in the previous year, the firm earned $2.05 EPS. On average, research analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be issued a $0.78 dividend. The ex-dividend date is Monday, May 19th. This represents a $3.12 annualized dividend and a yield of 3.31%. ConocoPhillips’s payout ratio 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.