Mayfair Advisory Group LLC Raises Stake in ConocoPhillips (NYSE:COP)

Mayfair Advisory Group LLC raised its stake in shares of ConocoPhillips (NYSE:COP) by 3.5% in the first quarter, Holdings Channel reports. The institutional investor owned 2,627 shares of the energy producer’s stock after buying an additional 90 shares during the quarter. Mayfair Advisory Group LLC’s holdings in ConocoPhillips were worth $334,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. SteelPeak Wealth LLC lifted its stake in ConocoPhillips by 42.7% during the first quarter. SteelPeak Wealth LLC now owns 34,432 shares of the energy producer’s stock worth $4,383,000 after purchasing an additional 10,305 shares during the last quarter. Financial Partners Group LLC lifted its position in ConocoPhillips by 65.9% in the 1st quarter. Financial Partners Group LLC now owns 5,833 shares of the energy producer’s stock worth $742,000 after buying an additional 2,316 shares during the last quarter. Breakwater Capital Group boosted its stake in ConocoPhillips by 3.5% in the first quarter. Breakwater Capital Group now owns 4,080 shares of the energy producer’s stock worth $519,000 after buying an additional 138 shares in the last quarter. Chatham Capital Group Inc. purchased a new position in shares of ConocoPhillips during the first quarter worth approximately $1,000,000. Finally, Strata Wealth Advisors LLC bought a new stake in shares of ConocoPhillips in the 1st quarter worth approximately $272,000. 82.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on COP. 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. Susquehanna upped their price objective on shares of ConocoPhillips from $133.00 to $154.00 and gave the company a “positive” rating in a research note on Monday, April 22nd. StockNews.com raised ConocoPhillips from a “hold” rating to a “buy” rating in a research report on Thursday. Barclays raised their price target on ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Finally, Raymond James reissued a “strong-buy” rating and set a $159.00 price objective (up from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $144.18.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $114.38 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.35 and a quick ratio of 1.21. The stock has a market cap of $133.77 billion, a price-to-earnings ratio of 12.95, a price-to-earnings-growth ratio of 2.04 and a beta of 1.24. The firm has a 50-day moving average of $118.30 and a two-hundred day moving average of $117.62. ConocoPhillips has a 1 year low of $99.35 and a 1 year high of $135.18.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.04. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. The business had revenue of $14.48 billion during the quarter, compared to analysts’ expectations of $14.72 billion. On average, research analysts forecast that ConocoPhillips will post 8.89 earnings per share for the current 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 $0.78 dividend. The ex-dividend date of this dividend 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 is currently 26.27%.

ConocoPhillips 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.