Range Financial Group LLC Purchases New Position in ConocoPhillips (NYSE:COP)

Range Financial Group LLC purchased a new stake in shares of ConocoPhillips (NYSE:COP) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,883 shares of the energy producer’s stock, valued at approximately $240,000.

A number of other large investors have also recently made changes to their positions in the business. Orion Capital Management LLC bought a new stake in ConocoPhillips in the third quarter valued at $27,000. West Branch Capital LLC increased its position in shares of ConocoPhillips by 87.8% during the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after buying an additional 108 shares during the period. Sachetta LLC bought a new position in ConocoPhillips in the fourth quarter worth about $27,000. Cooksen Wealth LLC purchased a new stake in ConocoPhillips in the fourth quarter worth about $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. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Performance

Shares of COP stock opened at $115.17 on Tuesday. The firm has a market capitalization of $134.69 billion, a PE ratio of 13.04, a P/E/G ratio of 1.98 and a beta of 1.23. The company has a 50 day moving average price of $119.46 and a 200-day moving average price of $117.55. ConocoPhillips has a 52 week low of $99.35 and a 52 week high of $135.18. 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 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.04. The business had revenue of $14.48 billion during 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%. As a group, equities research analysts expect that ConocoPhillips will post 8.89 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were given a $0.78 dividend. The ex-dividend date was Friday, May 10th. This represents a $3.12 annualized dividend and a yield of 2.71%. ConocoPhillips’s payout ratio is 26.27%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Barclays raised 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. Mizuho dropped their price objective on shares of ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 5th. Morgan Stanley upped their price objective on shares of ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Piper Sandler lifted their target price on shares of ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Finally, Argus raised ConocoPhillips to a “strong-buy” rating in a research report on Friday, June 7th. Four equities 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $144.18.

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.