Lake Street Private Wealth LLC Lowers Stake in ConocoPhillips (NYSE:COP)

Lake Street Private Wealth LLC cut its position in ConocoPhillips (NYSE:COP) by 2.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,269 shares of the energy producer’s stock after selling 99 shares during the period. Lake Street Private Wealth LLC’s holdings in ConocoPhillips were worth $543,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of COP. Astoria Portfolio Advisors LLC. grew its holdings in shares of ConocoPhillips by 4.0% in the first quarter. Astoria Portfolio Advisors LLC. now owns 2,232 shares of the energy producer’s stock valued at $291,000 after purchasing an additional 85 shares in the last quarter. Evergreen Capital Management LLC raised its position in shares of ConocoPhillips by 0.5% during the 3rd quarter. Evergreen Capital Management LLC now owns 18,944 shares of the energy producer’s stock valued at $2,270,000 after buying an additional 89 shares in the last quarter. Adirondack Trust Co. lifted its holdings in shares of ConocoPhillips by 3.1% in the 4th quarter. Adirondack Trust Co. now owns 2,990 shares of the energy producer’s stock valued at $336,000 after acquiring an additional 90 shares during the last quarter. Mayfair Advisory Group LLC lifted its holdings in shares of ConocoPhillips by 3.5% in the 1st quarter. Mayfair Advisory Group LLC now owns 2,627 shares of the energy producer’s stock valued at $334,000 after acquiring an additional 90 shares during the last quarter. Finally, West Paces Advisors Inc. grew its position in ConocoPhillips by 5.9% in the first quarter. West Paces Advisors Inc. now owns 1,659 shares of the energy producer’s stock worth $211,000 after acquiring an additional 93 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

COP has been the subject of several analyst reports. Bank of America reaffirmed a “buy” rating and issued a $147.00 price objective on shares of ConocoPhillips in a research note on Friday, June 14th. Argus raised shares of ConocoPhillips to a “strong-buy” rating in a research note on Friday, June 7th. Raymond James reissued a “strong-buy” rating and issued a $159.00 target price (up previously from $155.00) on shares of ConocoPhillips in a research note on Thursday, May 30th. Piper Sandler raised their target price on shares of ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Finally, Morgan Stanley upped their price target on shares of ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and an average price target of $144.18.

ConocoPhillips Stock Up 0.6 %

Shares of NYSE:COP opened at $114.77 on Thursday. The business’s 50 day moving average is $117.68 and its 200 day moving average is $117.61. The stock has a market cap of $134.23 billion, a P/E ratio of 13.00, a price-to-earnings-growth ratio of 2.03 and a beta of 1.23. 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 earnings per share 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 analysts’ expectations of $14.72 billion. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. Sell-side analysts predict that ConocoPhillips will post 8.89 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date was Friday, May 10th. ConocoPhillips’s dividend payout ratio (DPR) is 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.