Farmers & Merchants Investments Inc. Reduces Stock Holdings in ConocoPhillips (NYSE:COP)

Farmers & Merchants Investments Inc. reduced its stake in shares of ConocoPhillips (NYSE:COP) by 1.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 105,114 shares of the energy producer’s stock after selling 1,915 shares during the quarter. Farmers & Merchants Investments Inc.’s holdings in ConocoPhillips were worth $11,039,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of COP. Tallon Kerry Patrick acquired a new position in shares of ConocoPhillips in the 4th quarter worth approximately $511,000. Naples Global Advisors LLC boosted its position in ConocoPhillips by 11.2% during the 4th quarter. Naples Global Advisors LLC now owns 15,902 shares of the energy producer’s stock valued at $1,577,000 after purchasing an additional 1,607 shares during the period. Ingalls & Snyder LLC boosted its position in ConocoPhillips by 10.6% during the 4th quarter. Ingalls & Snyder LLC now owns 14,804 shares of the energy producer’s stock worth $1,468,000 after acquiring an additional 1,417 shares during the period. Sawgrass Asset Management LLC boosted its position in ConocoPhillips by 15.7% during the 4th quarter. Sawgrass Asset Management LLC now owns 2,851 shares of the energy producer’s stock worth $283,000 after acquiring an additional 387 shares during the period. Finally, Asset Management One Co. Ltd. boosted its position in 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 acquiring an additional 54,196 shares during the period. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on COP shares. Royal Bank of Canada reduced their price target on ConocoPhillips from $120.00 to $115.00 and set an “outperform” rating for the company in a research report on Friday, May 30th. Mizuho reduced their price target on ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. Susquehanna reduced their price target on ConocoPhillips from $120.00 to $114.00 and set a “positive” rating for the company in a research report on Monday, May 12th. Piper Sandler reduced their price target on ConocoPhillips from $114.00 to $107.00 and set an “overweight” rating for the company in a research report on Tuesday, May 13th. Finally, Raymond James reissued an “outperform” rating and issued a $109.00 price objective (up previously from $103.00) on shares of ConocoPhillips in a research note on Tuesday, May 20th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and an average price target of $121.30.

ConocoPhillips Stock Performance

COP stock opened at $97.00 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. The stock has a market cap of $122.63 billion, a P/E ratio of 12.45, a P/E/G ratio of 0.79 and a beta of 0.61. The firm has a 50 day simple moving average of $88.91 and a 200 day simple moving average of $95.95. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $118.40.

ConocoPhillips (NYSE:COP) last posted its earnings results 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 analysts’ expectations of $15.74 billion. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. During the same period in the previous year, the company earned $2.05 earnings per share. Research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips’s dividend 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.