Courier Capital LLC Trims Holdings in ConocoPhillips (NYSE:COP)

Courier Capital LLC lessened its holdings in shares of ConocoPhillips (NYSE:COP) by 44.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,544 shares of the energy producer’s stock after selling 15,945 shares during the period. Courier Capital LLC’s holdings in ConocoPhillips were worth $2,488,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Orion Capital Management LLC bought a new stake in ConocoPhillips during the 3rd quarter valued at approximately $27,000. West Branch Capital LLC boosted its position in ConocoPhillips by 87.8% during the 4th quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after acquiring an additional 108 shares in the last quarter. Sachetta LLC bought a new stake in ConocoPhillips during the 4th quarter valued at approximately $27,000. Cooksen Wealth LLC bought a new stake in ConocoPhillips during the 4th quarter valued at approximately $27,000. Finally, Cape Investment Advisory Inc. boosted 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 valued at $29,000 after acquiring an additional 121 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

COP has been the topic of several research reports. Barclays lifted their price objective on ConocoPhillips from $158.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Truist Financial boosted their price target on ConocoPhillips from $160.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, June 3rd. StockNews.com raised ConocoPhillips from a “hold” rating to a “buy” rating in a research report on Thursday. Wells Fargo & Company boosted their price target on ConocoPhillips from $149.00 to $151.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Finally, Scotiabank boosted their price target on ConocoPhillips from $120.00 to $135.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 11th. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.18.

ConocoPhillips Stock Up 0.3 %

COP stock traded up $0.39 during midday trading on Thursday, hitting $114.00. The company’s stock had a trading volume of 3,846,496 shares, compared to its average volume of 5,687,968. The company has a market cap of $133.33 billion, a PE ratio of 12.91, a P/E/G ratio of 2.05 and a beta of 1.22. ConocoPhillips has a 12 month low of $99.35 and a 12 month high of $135.18. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.35. The firm’s 50-day moving average is $118.87 and its 200-day moving average is $117.54.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data 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 business had revenue of $14.48 billion for the quarter, compared to analysts’ expectations of $14.72 billion. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. On average, equities research analysts forecast that ConocoPhillips will post 8.89 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

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

ConocoPhillips Company 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.