ConocoPhillips (NYSE:COP) Shares Purchased by SteelPeak Wealth LLC

SteelPeak Wealth LLC raised its stake in ConocoPhillips (NYSE:COP) by 42.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,432 shares of the energy producer’s stock after acquiring an additional 10,305 shares during the period. SteelPeak Wealth LLC’s holdings in ConocoPhillips were worth $4,383,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Orion Capital Management LLC purchased a new stake in shares of ConocoPhillips in the third quarter valued at about $27,000. West Branch Capital LLC raised its holdings in shares of ConocoPhillips by 87.8% in 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 last quarter. Cooksen Wealth LLC purchased a new stake in shares of ConocoPhillips in the fourth quarter valued at about $27,000. Sachetta LLC purchased a new stake in shares of ConocoPhillips in the fourth quarter valued at about $27,000. Finally, Richardson Capital Management LLC purchased a new position in ConocoPhillips during the first quarter worth about $31,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on COP shares. Susquehanna increased their price target on shares of ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a report on Monday, April 22nd. 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. Truist Financial increased their price target on shares of ConocoPhillips from $160.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, June 3rd. Wells Fargo & Company increased their price target on shares of ConocoPhillips from $149.00 to $151.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Finally, StockNews.com raised shares of ConocoPhillips from a “hold” rating to a “buy” rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $144.18.

ConocoPhillips Stock Up 0.4 %

COP stock opened at $114.38 on Monday. The company’s 50 day simple moving average is $118.30 and its 200-day simple moving average is $117.62. The firm has a market capitalization of $133.77 billion, a PE ratio of 12.95, a P/E/G ratio of 2.04 and a beta of 1.24. ConocoPhillips has a 12 month low of $99.35 and a 12 month 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 announced its earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share (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 analyst estimates of $14.72 billion. Equities analysts expect that ConocoPhillips will post 8.89 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 13th were given a dividend of $0.78 per share. The ex-dividend date was Friday, May 10th. This represents a $3.12 dividend on an annualized basis and a yield of 2.73%. ConocoPhillips’s dividend payout ratio (DPR) is currently 26.27%.

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.