Wealthcare Advisory Partners LLC Has $1.56 Million Position in ConocoPhillips (NYSE:COP)

Wealthcare Advisory Partners LLC decreased its holdings in ConocoPhillips (NYSE:COP) by 28.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,277 shares of the energy producer’s stock after selling 4,983 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in ConocoPhillips were worth $1,563,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in COP. Aletheian Wealth Advisors LLC acquired a new position in shares of ConocoPhillips in the 1st quarter worth approximately $203,000. Sovereign Financial Group Inc. acquired a new position in ConocoPhillips during the first quarter worth $240,000. Brookstone Capital Management raised its stake in ConocoPhillips by 41.2% during the first quarter. Brookstone Capital Management now owns 10,158 shares of the energy producer’s stock worth $1,293,000 after acquiring an additional 2,963 shares in the last quarter. Sound Income Strategies LLC lifted its holdings in shares of ConocoPhillips by 35.1% during the first quarter. Sound Income Strategies LLC now owns 1,063 shares of the energy producer’s stock valued at $135,000 after acquiring an additional 276 shares during the period. Finally, West Paces Advisors Inc. boosted its stake in shares of ConocoPhillips by 5.9% in the 1st quarter. West Paces Advisors Inc. now owns 1,659 shares of the energy producer’s stock valued at $211,000 after purchasing an additional 93 shares in the last quarter. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Trading Up 0.3 %

Shares of NYSE:COP opened at $114.00 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.21 and a current ratio of 1.35. The company has a market capitalization of $133.33 billion, a P/E ratio of 12.91, a price-to-earnings-growth 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 50-day simple moving average of $118.87 and a 200 day simple moving average of $117.54.

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 business had revenue of $14.48 billion during the quarter, compared to the consensus estimate of $14.72 billion. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. Sell-side analysts forecast that ConocoPhillips will post 8.89 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 13th were paid a $0.78 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $3.12 annualized dividend and a dividend yield of 2.74%. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.27%.

Analysts Set New Price Targets

Several brokerages recently issued reports on COP. Mizuho cut their price target on shares of ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating for the company in a report on Wednesday, June 5th. Wells Fargo & Company raised their price target on ConocoPhillips from $149.00 to $151.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Piper Sandler boosted their price objective on ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. StockNews.com upgraded ConocoPhillips from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Susquehanna increased their price objective on shares of ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a report on Monday, April 22nd. 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’s stock. According to data from MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and an average target price 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.