Royal Capital Wealth Management LLC Purchases New Position in ConocoPhillips (NYSE:COP)

Royal Capital Wealth Management LLC purchased a new stake in ConocoPhillips (NYSE:COP) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,405 shares of the energy producer’s stock, valued at approximately $239,000.

Several other large investors have also added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its position 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 in the last quarter. Leavell Investment Management Inc. lifted its position in shares of ConocoPhillips by 59.8% during the 4th quarter. Leavell Investment Management Inc. now owns 19,166 shares of the energy producer’s stock worth $1,901,000 after buying an additional 7,174 shares in the last quarter. Heck Capital Advisors LLC bought a new position in shares of ConocoPhillips during the 4th quarter worth approximately $1,767,000. Asset Management One Co. Ltd. lifted its position in shares of ConocoPhillips by 11.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 519,371 shares of the energy producer’s stock worth $50,345,000 after buying an additional 54,196 shares in the last quarter. Finally, New York State Teachers Retirement System lifted its position in shares of ConocoPhillips by 7.4% during the 4th quarter. New York State Teachers Retirement System now owns 1,170,901 shares of the energy producer’s stock worth $116,118,000 after buying an additional 80,199 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Down 0.9%

ConocoPhillips stock opened at $89.63 on Wednesday. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $121.73. 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 firm has a market capitalization of $113.31 billion, a price-to-earnings ratio of 11.51, a P/E/G ratio of 0.79 and a beta of 0.64. The firm has a 50 day simple moving average of $92.96 and a 200 day simple moving average of $98.77.

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

ConocoPhillips Dividend Announcement

The business also recently disclosed 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 3.48%. The ex-dividend date is Monday, May 19th. ConocoPhillips’s dividend payout ratio is currently 39.64%.

Analysts Set New Price Targets

COP has been the topic of several recent analyst reports. Susquehanna dropped their target price on shares of ConocoPhillips from $120.00 to $114.00 and set a “positive” rating on the stock in a research report on Monday, May 12th. Royal Bank of Canada dropped their target price on shares of ConocoPhillips from $133.00 to $120.00 and set an “outperform” rating on the stock in a research report on Monday, April 14th. Barclays dropped their target price on shares of ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Wells Fargo & Company dropped their target price on shares of ConocoPhillips from $116.00 to $113.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 14th. Finally, Piper Sandler dropped their target price on shares of ConocoPhillips from $114.00 to $107.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 13th. Three analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.95.

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.