Mission Wealth Management LP Has $1.79 Million Position in ConocoPhillips (NYSE:COP)

Mission Wealth Management LP trimmed its holdings in shares of ConocoPhillips (NYSE:COP) by 2.6% in the first quarter, HoldingsChannel reports. The institutional investor owned 17,043 shares of the energy producer’s stock after selling 446 shares during the period. Mission Wealth Management LP’s holdings in ConocoPhillips were worth $1,790,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Murphy & Mullick Capital Management Corp bought a new stake in ConocoPhillips during the fourth quarter worth about $26,000. Centricity Wealth Management LLC acquired a new stake in shares of ConocoPhillips in the 4th quarter valued at approximately $27,000. 10Elms LLP bought a new position in shares of ConocoPhillips in the fourth quarter valued at $28,000. Crowley Wealth Management Inc. acquired a new position in ConocoPhillips during the fourth quarter worth $32,000. Finally, Marshall Investment Management LLC bought a new stake in ConocoPhillips during the fourth quarter worth $36,000. Institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Citigroup decreased their price objective on shares of ConocoPhillips from $140.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, June 11th. Susquehanna reduced their price target on ConocoPhillips from $120.00 to $114.00 and set a “positive” rating for the company in a report on Monday, May 12th. Bank of America lowered their price target on ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating on the stock in a research report on Friday, May 23rd. Scotiabank reduced their target price 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. Finally, Raymond James reissued an “outperform” rating and set a $109.00 target price (up from $103.00) on shares of ConocoPhillips in a report on Tuesday, May 20th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $121.30.

ConocoPhillips Trading Down 2.0%

COP stock opened at $95.03 on Tuesday. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $118.40. The company has a market capitalization of $120.13 billion, a PE ratio of 12.20, a price-to-earnings-growth ratio of 0.79 and a beta of 0.61. The company’s 50-day simple moving average is $89.16 and its 200 day simple moving average is $95.70. 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 (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, 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 firm had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. During the same quarter in the previous year, the firm posted $2.05 EPS. As a group, sell-side analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips’s dividend payout ratio is currently 39.64%.

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.