Chesley Taft & Associates LLC Has $3.51 Million Stock Position in ConocoPhillips (NYSE:COP)

Chesley Taft & Associates LLC grew its stake in ConocoPhillips (NYSE:COP) by 0.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,604 shares of the energy producer’s stock after buying an additional 125 shares during the quarter. Chesley Taft & Associates LLC’s holdings in ConocoPhillips were worth $3,513,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Orion Capital Management LLC acquired a new position in ConocoPhillips during the 3rd quarter worth approximately $27,000. West Branch Capital LLC grew its position in ConocoPhillips by 87.8% in the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after purchasing an additional 108 shares in the last quarter. Sachetta LLC acquired a new stake in ConocoPhillips in the 4th quarter valued at $27,000. Cooksen Wealth LLC acquired a new stake in ConocoPhillips in the 4th quarter valued at $27,000. Finally, Cape Investment Advisory Inc. lifted its position in ConocoPhillips by 96.0% during the 4th quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock worth $29,000 after buying an additional 121 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Barclays lifted their price objective on shares of ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Royal Bank of Canada raised their price objective on shares of ConocoPhillips from $135.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 15th. Argus raised ConocoPhillips to a “strong-buy” rating in a research report on Friday, June 7th. Morgan Stanley lifted their price target on ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Finally, Mizuho decreased their price objective on ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating on the stock in a report on Wednesday, June 5th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $144.18.

ConocoPhillips Trading Up 0.3 %

Shares of COP traded up $0.39 during mid-day trading on Thursday, reaching $114.00. 3,846,496 shares of the company were exchanged, compared to its average volume of 5,687,968. The business has a 50 day simple moving average of $118.87 and a two-hundred day simple moving average of $117.54. ConocoPhillips has a 52 week low of $99.35 and a 52 week high of $135.18. The stock has a market capitalization of $133.33 billion, a PE ratio of 12.88, a PEG ratio of 2.05 and a beta of 1.22. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.21 and a current ratio of 1.35.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.04. The firm had revenue of $14.48 billion for the quarter, compared to analyst estimates of $14.72 billion. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. On average, analysts predict that ConocoPhillips will post 8.89 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend was Friday, May 10th. ConocoPhillips’s dividend payout ratio is currently 26.27%.

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.