Principal Street Partners LLC Reduces Stock Position in ConocoPhillips (NYSE:COP)

Principal Street Partners LLC reduced its position in shares of ConocoPhillips (NYSE:COP) by 11.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,081 shares of the energy producer’s stock after selling 994 shares during the quarter. Principal Street Partners LLC’s holdings in ConocoPhillips were worth $801,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Orrstown Financial Services Inc. increased its position in ConocoPhillips by 3.0% during the 4th quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer’s stock valued at $331,000 after purchasing an additional 96 shares during the period. Principle Wealth Partners LLC boosted its position in ConocoPhillips by 0.3% during the 4th quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer’s stock valued at $3,695,000 after acquiring an additional 100 shares in the last quarter. Arlington Trust Co LLC grew its stake in ConocoPhillips by 1.2% in the fourth quarter. Arlington Trust Co LLC now owns 8,640 shares of the energy producer’s stock valued at $857,000 after purchasing an additional 102 shares during the last quarter. Gray Wealth Management Inc. raised its holdings in ConocoPhillips by 5.0% in the fourth quarter. Gray Wealth Management Inc. now owns 2,171 shares of the energy producer’s stock worth $215,000 after purchasing an additional 104 shares in the last quarter. Finally, Plancorp LLC lifted its position in shares of ConocoPhillips by 2.7% during the fourth quarter. Plancorp LLC now owns 4,018 shares of the energy producer’s stock valued at $399,000 after buying an additional 104 shares during the last quarter. 82.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on COP shares. Morgan Stanley boosted their price objective on shares of ConocoPhillips from $116.00 to $118.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Royal Bank of Canada cut their price target on shares of ConocoPhillips from $133.00 to $120.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. Bank of America cut ConocoPhillips from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $138.00 to $107.00 in a research report on Tuesday, April 29th. UBS Group decreased their price target on ConocoPhillips from $116.00 to $111.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Finally, Piper Sandler lowered their target price on shares of ConocoPhillips from $114.00 to $107.00 and set an “overweight” rating for the company in a research note on Tuesday, May 13th. Three equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $122.74.

ConocoPhillips Price Performance

COP stock opened at $90.33 on Tuesday. The business has a 50 day simple moving average of $93.09 and a 200-day simple moving average of $98.84. The firm has a market capitalization of $114.19 billion, a PE ratio of 11.60, a price-to-earnings-growth ratio of 0.79 and a beta of 0.64. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $122.11.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results 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 business had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. During the same quarter last year, the firm earned $2.05 EPS. Equities 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 will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $3.12 annualized dividend and a dividend yield of 3.45%. ConocoPhillips’s dividend payout ratio is currently 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.