Jeppson Wealth Management LLC Sells 135 Shares of ConocoPhillips (NYSE:COP)

Jeppson Wealth Management LLC decreased its holdings in ConocoPhillips (NYSE:COP) by 0.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,536 shares of the energy producer’s stock after selling 135 shares during the quarter. ConocoPhillips accounts for approximately 0.8% of Jeppson Wealth Management LLC’s holdings, making the stock its 27th biggest position. Jeppson Wealth Management LLC’s holdings in ConocoPhillips were worth $1,977,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Cornerstone Wealth Group LLC boosted its holdings in shares of ConocoPhillips by 3.9% in the first quarter. Cornerstone Wealth Group LLC now owns 64,162 shares of the energy producer’s stock worth $8,167,000 after buying an additional 2,403 shares during the last quarter. Richardson Capital Management LLC purchased a new position in ConocoPhillips during the first quarter valued at $31,000. Physician Wealth Advisors Inc. grew its holdings in ConocoPhillips by 3.6% during the first quarter. Physician Wealth Advisors Inc. now owns 2,940 shares of the energy producer’s stock valued at $381,000 after purchasing an additional 103 shares during the period. New Mexico Educational Retirement Board increased its position in ConocoPhillips by 20.2% in the first quarter. New Mexico Educational Retirement Board now owns 75,710 shares of the energy producer’s stock worth $9,636,000 after buying an additional 12,700 shares in the last quarter. Finally, Founders Financial Securities LLC bought a new position in shares of ConocoPhillips in the first quarter worth about $1,184,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Up 0.4 %

NYSE:COP traded up $0.41 during mid-day trading on Friday, reaching $114.38. The company’s stock had a trading volume of 7,191,846 shares, compared to its average volume of 7,011,207. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $133.77 billion, a PE ratio of 12.95, a price-to-earnings-growth ratio of 2.04 and a beta of 1.22. The stock has a fifty day moving average of $118.30 and a 200-day moving average of $117.58. ConocoPhillips has a 1 year low of $99.35 and a 1 year high of $135.18.

ConocoPhillips (NYSE:COP) last issued 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 company had revenue of $14.48 billion for the quarter, compared to analyst estimates of $14.72 billion. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. Equities research analysts forecast that ConocoPhillips will post 8.89 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 13th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.73%. The ex-dividend date was Friday, May 10th. ConocoPhillips’s payout ratio is currently 26.27%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Truist Financial raised their price objective on shares of ConocoPhillips from $160.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, June 3rd. Mizuho dropped their price objective on ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating for the company in a research note on Wednesday, June 5th. Raymond James reiterated 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. Wells Fargo & Company upped their price target on ConocoPhillips from $149.00 to $151.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. Finally, Royal Bank of Canada lifted their price objective on shares of ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, May 15th. 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 company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $144.18.

About ConocoPhillips

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.