TrinityPoint Wealth LLC Decreases Stake in ConocoPhillips (NYSE:COP)

TrinityPoint Wealth LLC reduced its stake in shares of ConocoPhillips (NYSE:COP) by 73.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,520 shares of the energy producer’s stock after selling 9,559 shares during the period. TrinityPoint Wealth LLC’s holdings in ConocoPhillips were worth $349,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of ConocoPhillips by 11.7% during the 4th quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer’s stock worth $12,081,491,000 after buying an additional 12,751,120 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of ConocoPhillips by 13.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer’s stock worth $4,546,706,000 after buying an additional 5,549,078 shares during the last quarter. Capital International Investors raised its stake in shares of ConocoPhillips by 4.9% during the 4th quarter. Capital International Investors now owns 31,287,113 shares of the energy producer’s stock worth $3,101,989,000 after buying an additional 1,473,027 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of ConocoPhillips by 13.7% during the 4th quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer’s stock worth $2,792,521,000 after buying an additional 3,397,360 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of ConocoPhillips by 37.1% during the 4th quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer’s stock worth $1,544,101,000 after buying an additional 4,211,939 shares during the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Trading Down 0.7%

NYSE COP opened at $92.34 on Monday. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $122.11. The company has a 50-day moving average of $93.24 and a 200-day moving average of $98.96. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The company has a market cap of $116.73 billion, a P/E ratio of 11.85, a P/E/G ratio of 0.79 and a beta of 0.64.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $15.74 billion. During the same quarter in the prior year, the company posted $2.05 EPS. As a group, equities analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend is Monday, May 19th. ConocoPhillips’s payout ratio is currently 39.64%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Piper Sandler cut their price target on ConocoPhillips from $114.00 to $107.00 and set an “overweight” rating for the company in a research note on Tuesday, May 13th. Scotiabank cut their price target on ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating for the company in a research note on Friday, April 11th. Wells Fargo & Company cut their price target on ConocoPhillips from $116.00 to $113.00 and set an “overweight” rating for the company in a research note on Wednesday, May 14th. Royal Bank of Canada cut their target price on shares of ConocoPhillips from $133.00 to $120.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. Finally, Barclays cut their target price on shares of ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Three investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.74.

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.