Menard Financial Group LLC Raises Holdings in ConocoPhillips (NYSE:COP)

Menard Financial Group LLC boosted its position in ConocoPhillips (NYSE:COP) by 12.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,266 shares of the energy producer’s stock after purchasing an additional 1,290 shares during the quarter. Menard Financial Group LLC’s holdings in ConocoPhillips were worth $1,117,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Murphy & Mullick Capital Management Corp purchased a new stake in ConocoPhillips in the fourth quarter worth about $26,000. Centricity Wealth Management LLC bought a new position in ConocoPhillips during the 4th quarter valued at approximately $27,000. 10Elms LLP purchased a new position in ConocoPhillips during the fourth quarter valued at $28,000. Crowley Wealth Management Inc. bought a new stake in ConocoPhillips in the fourth quarter worth $32,000. Finally, DiNuzzo Private Wealth Inc. grew its stake in shares of ConocoPhillips by 310.1% in the fourth quarter. DiNuzzo Private Wealth Inc. now owns 365 shares of the energy producer’s stock worth $36,000 after acquiring an additional 276 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of NYSE COP opened at $85.19 on Tuesday. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $119.23. The firm has a market capitalization of $107.69 billion, a price-to-earnings ratio of 10.94, a price-to-earnings-growth ratio of 0.79 and a beta of 0.64. 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 50 day moving average of $91.82 and a 200 day moving average of $97.98.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.05 by $0.04. The firm had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. During the same quarter in the previous year, the firm posted $2.05 EPS. On average, research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be given a dividend of $0.78 per share. The ex-dividend date is Monday, May 19th. This represents a $3.12 annualized dividend and a yield of 3.66%. ConocoPhillips’s dividend payout ratio (DPR) is presently 39.64%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on COP. Raymond James reaffirmed an “outperform” rating and issued a $109.00 price target (up previously from $103.00) on shares of ConocoPhillips in a research report on Tuesday, May 20th. The Goldman Sachs Group set a $132.00 target price on shares of ConocoPhillips in a research note on Thursday, January 30th. Piper Sandler reduced their price target on shares of ConocoPhillips from $114.00 to $107.00 and set an “overweight” rating for the company in a research report on Tuesday, May 13th. Wells Fargo & Company lowered their price objective on ConocoPhillips from $116.00 to $113.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 14th. Finally, Mizuho dropped their price target on shares of ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. Three analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $121.89.

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.