ConocoPhillips (NYSE:COP) Stock Position Reduced by Baugh & Associates LLC

Baugh & Associates LLC decreased its stake in ConocoPhillips (NYSE:COP) by 1.0% in the first quarter, Holdings Channel reports. The institutional investor owned 31,493 shares of the energy producer’s stock after selling 316 shares during the quarter. ConocoPhillips makes up approximately 2.1% of Baugh & Associates LLC’s holdings, making the stock its 25th largest position. Baugh & Associates LLC’s holdings in ConocoPhillips were worth $4,008,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of COP. Dohj LLC bought a new position in ConocoPhillips in the 1st quarter worth $617,000. Vanguard Capital Wealth Advisors acquired a new position in shares of ConocoPhillips during the 1st quarter worth about $220,000. Thrive Wealth Management LLC boosted its stake in ConocoPhillips by 8.7% during the 1st quarter. Thrive Wealth Management LLC now owns 3,952 shares of the energy producer’s stock valued at $503,000 after purchasing an additional 316 shares during the period. Chesley Taft & Associates LLC lifted its holdings in shares of ConocoPhillips by 0.5% during the first quarter. Chesley Taft & Associates LLC now owns 27,604 shares of the energy producer’s stock worth $3,513,000 after buying an additional 125 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of ConocoPhillips by 0.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 248,009 shares of the energy producer’s stock worth $31,567,000 after purchasing an additional 1,243 shares during the period. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Stock Up 0.1 %

COP traded up $0.17 during trading on Friday, reaching $114.14. 2,043,515 shares of the stock were exchanged, compared to its average volume of 5,658,583. The stock has a market cap of $133.49 billion, a P/E ratio of 12.98, a price-to-earnings-growth ratio of 2.02 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. The stock’s 50 day moving average price is $118.87 and its two-hundred day moving average price is $117.54. ConocoPhillips has a twelve month low of $99.35 and a twelve month high of $135.18.

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

ConocoPhillips Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend was Friday, May 10th. This represents a $3.12 annualized dividend and a dividend yield of 2.73%. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.27%.

Wall Street Analyst Weigh In

COP has been the subject of several analyst reports. Raymond James restated a “strong-buy” rating and set a $159.00 target price (up previously from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Scotiabank upped their target price on shares of ConocoPhillips from $120.00 to $135.00 and gave the stock a “sector perform” rating in a report on Thursday, April 11th. Piper Sandler raised their price objective on shares of ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Argus raised ConocoPhillips to a “strong-buy” rating in a report on Friday, June 7th. Finally, Truist Financial raised their price target on ConocoPhillips from $160.00 to $165.00 and gave the company a “buy” rating in a report on Monday, June 3rd. 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. Based on data from MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus target price of $144.18.

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.