Wealthfront Advisers LLC Acquires 25,740 Shares of ConocoPhillips $COP

Wealthfront Advisers LLC increased its holdings in ConocoPhillips (NYSE:COP) by 14.4% during the first quarter, Holdings Channel.com reports. The firm owned 204,086 shares of the energy producer’s stock after acquiring an additional 25,740 shares during the quarter. Wealthfront Advisers LLC’s holdings in ConocoPhillips were worth $26,939,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in ConocoPhillips by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 120,251,183 shares of the energy producer’s stock valued at $11,256,713,000 after acquiring an additional 408,304 shares during the period. Capital International Investors increased its stake in ConocoPhillips by 5.9% in the 4th quarter. Capital International Investors now owns 48,360,060 shares of the energy producer’s stock worth $4,527,230,000 after purchasing an additional 2,714,663 shares during the period. Charles Schwab Investment Management Inc. lifted its position in ConocoPhillips by 6.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 41,450,162 shares of the energy producer’s stock valued at $3,880,151,000 after purchasing an additional 2,350,645 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of ConocoPhillips by 4.5% during the fourth quarter. Franklin Resources Inc. now owns 15,038,675 shares of the energy producer’s stock valued at $1,407,770,000 after purchasing an additional 648,432 shares during the period. Finally, Fisher Asset Management LLC boosted its stake in shares of ConocoPhillips by 1.3% during the fourth quarter. Fisher Asset Management LLC now owns 14,847,367 shares of the energy producer’s stock valued at $1,389,862,000 after purchasing an additional 193,401 shares during the period. 82.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Truist Financial cut their price target on shares of ConocoPhillips from $128.00 to $115.00 and set a “hold” rating on the stock in a report on Wednesday, July 8th. Morgan Stanley lowered their price objective on shares of ConocoPhillips from $153.00 to $146.00 and set an “overweight” rating for the company in a research note on Friday, June 26th. Zacks Research lowered shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. Royal Bank Of Canada set a $130.00 price target on ConocoPhillips in a report on Monday, June 22nd. Finally, Roth Capital raised ConocoPhillips from a “neutral” rating to a “buy” rating and upped their price target for the company from $124.00 to $130.00 in a research report on Monday, June 22nd. Eighteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus target price of $134.04.

ConocoPhillips Price Performance

Shares of COP stock opened at $111.49 on Thursday. The stock has a market cap of $135.82 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 1.34 and a beta of 0.12. The business’s fifty day moving average is $113.50 and its 200 day moving average is $113.21. ConocoPhillips has a twelve month low of $85.57 and a twelve month high of $135.87. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, topping the consensus estimate of $1.72 by $0.17. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The business had revenue of $15.76 billion for the quarter, compared to analyst estimates of $15.62 billion. During the same quarter in the previous year, the firm posted $2.09 earnings per share. ConocoPhillips’s quarterly revenue was down 6.1% on a year-over-year basis. Research analysts expect that ConocoPhillips will post 9.27 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were issued a dividend of $0.84 per share. The ex-dividend date was Monday, May 11th. This represents a $3.36 annualized dividend and a dividend yield of 3.0%. ConocoPhillips’s dividend payout ratio (DPR) is presently 57.05%.

About ConocoPhillips

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.