Thrive Wealth Management LLC Has $503,000 Position in ConocoPhillips (NYSE:COP)

Thrive Wealth Management LLC boosted its stake in shares of ConocoPhillips (NYSE:COP) by 8.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,952 shares of the energy producer’s stock after acquiring an additional 316 shares during the period. Thrive Wealth Management LLC’s holdings in ConocoPhillips were worth $503,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Chesley Taft & Associates LLC increased its stake in ConocoPhillips by 0.5% during the 1st quarter. Chesley Taft & Associates LLC now owns 27,604 shares of the energy producer’s stock worth $3,513,000 after acquiring an additional 125 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of ConocoPhillips by 0.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 248,009 shares of the energy producer’s stock valued at $31,567,000 after purchasing an additional 1,243 shares during the last quarter. Procyon Advisors LLC increased its stake in shares of ConocoPhillips by 1.9% in the 1st quarter. Procyon Advisors LLC now owns 15,701 shares of the energy producer’s stock valued at $1,998,000 after purchasing an additional 291 shares during the last quarter. Cardinal Capital Management increased its stake in shares of ConocoPhillips by 6.5% in the 1st quarter. Cardinal Capital Management now owns 76,028 shares of the energy producer’s stock valued at $9,677,000 after purchasing an additional 4,635 shares during the last quarter. Finally, Signet Financial Management LLC increased its stake in shares of ConocoPhillips by 7.6% in the 1st quarter. Signet Financial Management LLC now owns 4,914 shares of the energy producer’s stock valued at $625,000 after purchasing an additional 348 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on COP shares. Morgan Stanley lifted their price target on ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Wells Fargo & Company lifted their price target on ConocoPhillips from $149.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Bank of America reiterated a “buy” rating and issued a $147.00 price target on shares of ConocoPhillips in a research note on Friday, June 14th. Raymond James reiterated a “strong-buy” rating and issued a $159.00 price target (up previously from $155.00) on shares of ConocoPhillips in a research note on Thursday, May 30th. Finally, Truist Financial boosted their price objective on ConocoPhillips from $160.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, June 3rd. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $144.18.

ConocoPhillips Trading Up 0.3 %

COP traded up $0.29 during midday trading on Friday, hitting $114.26. 486,287 shares of the company were exchanged, compared to its average volume of 5,644,854. The firm has a market capitalization of $133.63 billion, a P/E ratio of 12.91, a P/E/G ratio of 2.02 and a beta of 1.22. ConocoPhillips has a 1-year low of $99.35 and a 1-year high of $135.18. The firm’s 50 day moving average price is $118.87 and its 200-day moving average price is $117.54. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, May 2nd. The energy producer reported $2.03 EPS for the quarter, topping the consensus estimate of $1.99 by $0.04. The firm had revenue of $14.48 billion for the quarter, compared to the consensus estimate of $14.72 billion. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. As a group, equities analysts forecast that ConocoPhillips will post 8.89 EPS 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 paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date was Friday, May 10th. ConocoPhillips’s dividend payout ratio is 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.