Signet Financial Management LLC Purchases 348 Shares of ConocoPhillips (NYSE:COP)

Signet Financial Management LLC lifted its position in ConocoPhillips (NYSE:COP) by 7.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,914 shares of the energy producer’s stock after acquiring an additional 348 shares during the quarter. Signet Financial Management LLC’s holdings in ConocoPhillips were worth $625,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Cardinal Capital Management Inc. bought a new position in ConocoPhillips in the fourth quarter worth about $13,468,000. Columbia Trust Co 01012016 raised its holdings in ConocoPhillips by 1.2% in the fourth quarter. Columbia Trust Co 01012016 now owns 9,463 shares of the energy producer’s stock worth $1,098,000 after purchasing an additional 112 shares in the last quarter. Raymond James & Associates raised its holdings in ConocoPhillips by 1.5% in the fourth quarter. Raymond James & Associates now owns 1,563,044 shares of the energy producer’s stock worth $181,422,000 after purchasing an additional 23,572 shares in the last quarter. Harbor Investment Advisory LLC raised its holdings in ConocoPhillips by 2.2% in the first quarter. Harbor Investment Advisory LLC now owns 9,697 shares of the energy producer’s stock worth $1,234,000 after purchasing an additional 212 shares in the last quarter. Finally, Quotient Wealth Partners LLC bought a new position in ConocoPhillips in the fourth quarter worth about $5,594,000. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $114.00 on Friday. The business’s 50 day moving average price is $118.87 and its 200 day moving average price is $117.54. The firm has a market cap of $133.33 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 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 issued its earnings results on Thursday, May 2nd. The energy producer reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.04. The firm had revenue of $14.48 billion for the quarter, compared to analyst estimates of $14.72 billion. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. On average, sell-side analysts expect that ConocoPhillips will post 8.89 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently disclosed 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 of this dividend was Friday, May 10th. This represents a $3.12 annualized dividend and a yield of 2.74%. ConocoPhillips’s dividend payout ratio is presently 26.27%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on COP shares. Truist Financial boosted their target price on shares of ConocoPhillips from $160.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, June 3rd. StockNews.com upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating in a report on Thursday. Mizuho cut their price objective on shares of ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating on the stock in a report on Wednesday, June 5th. Raymond James restated a “strong-buy” rating and set a $159.00 price objective (up previously from $155.00) on shares of ConocoPhillips in a report on Thursday, May 30th. Finally, Royal Bank of Canada upped their price objective on shares of ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, May 15th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average 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.