Narus Financial Partners LLC Reduces Stock Position in ConocoPhillips (NYSE:COP)

Narus Financial Partners LLC trimmed its holdings in ConocoPhillips (NYSE:COP) by 7.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,654 shares of the energy producer’s stock after selling 203 shares during the period. Narus Financial Partners LLC’s holdings in ConocoPhillips were worth $338,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Leonard Rickey Investment Advisors P.L.L.C. lifted its holdings in ConocoPhillips by 6.9% during the 1st quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 2,251 shares of the energy producer’s stock worth $287,000 after purchasing an additional 146 shares in the last quarter. Farmers & Merchants Investments Inc. increased its holdings in shares of ConocoPhillips by 0.9% in the first quarter. Farmers & Merchants Investments Inc. now owns 105,776 shares of the energy producer’s stock worth $13,463,000 after purchasing an additional 972 shares during the period. Cullinan Associates Inc. raised its position in shares of ConocoPhillips by 12.8% in the first quarter. Cullinan Associates Inc. now owns 22,679 shares of the energy producer’s stock worth $2,887,000 after buying an additional 2,580 shares in the last quarter. Iams Wealth Management LLC boosted its position in shares of ConocoPhillips by 5.6% during the 1st quarter. Iams Wealth Management LLC now owns 16,025 shares of the energy producer’s stock valued at $2,040,000 after acquiring an additional 856 shares during the last quarter. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its holdings in shares of ConocoPhillips by 2.1% during the first quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 18,768 shares of the energy producer’s stock worth $2,389,000 after purchasing an additional 379 shares in the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on COP. StockNews.com upgraded ConocoPhillips from a “hold” rating to a “buy” rating in a research report on Thursday, June 27th. Royal Bank of Canada lifted their price target on ConocoPhillips from $135.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 15th. Barclays raised their target price on shares of ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Piper Sandler upped their price objective on shares of ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Finally, Truist Financial upped their price target on ConocoPhillips from $160.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, June 3rd. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $144.18.

ConocoPhillips Stock Performance

NYSE COP traded down $0.83 on Tuesday, hitting $113.53. 1,558,776 shares of the company traded hands, compared to its average volume of 5,653,146. The business’s 50 day moving average price is $118.30 and its 200-day moving average price is $117.62. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 52-week low of $99.35 and a 52-week high of $135.18. The company has a market capitalization of $132.78 billion, a price-to-earnings ratio of 12.95, a P/E/G ratio of 2.04 and a beta of 1.24.

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

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend was Friday, May 10th. ConocoPhillips’s payout ratio is currently 26.27%.

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.