Hennion & Walsh Asset Management Inc. Purchases 4,831 Shares of ConocoPhillips (NYSE:COP)

Hennion & Walsh Asset Management Inc. boosted its holdings in ConocoPhillips (NYSE:COP) by 20.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,164 shares of the energy producer’s stock after acquiring an additional 4,831 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in ConocoPhillips were worth $3,585,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Orion Capital Management LLC bought a new position in shares of ConocoPhillips during the third quarter valued at $27,000. West Branch Capital LLC lifted its stake in ConocoPhillips by 87.8% during the 4th quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after acquiring an additional 108 shares during the period. Sachetta LLC purchased a new stake in shares of ConocoPhillips during the 4th quarter valued at about $27,000. Cooksen Wealth LLC bought a new stake in shares of ConocoPhillips in the fourth quarter worth approximately $27,000. Finally, Cape Investment Advisory Inc. raised its holdings in shares of ConocoPhillips by 96.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 121 shares during the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Raymond James restated a “strong-buy” rating and issued a $159.00 target price (up previously from $155.00) on shares of ConocoPhillips in a report on Thursday, May 30th. Truist Financial lifted their price objective on ConocoPhillips from $160.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, June 3rd. Royal Bank of Canada increased their target price on ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, May 15th. Wells Fargo & Company boosted their price target on ConocoPhillips from $149.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Finally, Piper Sandler increased their price objective on shares of ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. 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 stock. According to data from MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus target price of $144.18.

ConocoPhillips Stock Up 0.4 %

Shares of NYSE COP opened at $114.38 on Friday. The company has a market cap of $133.77 billion, a P/E ratio of 12.95, a PEG ratio of 2.04 and a beta of 1.22. The firm has a 50-day simple moving average of $118.30 and a two-hundred day simple moving average of $117.58. ConocoPhillips has a 1 year low of $99.35 and a 1 year high of $135.18. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.35 and a quick ratio of 1.21.

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

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date 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.