Procyon Advisors LLC Grows Holdings in ConocoPhillips (NYSE:COP)

Procyon Advisors LLC lifted its stake in ConocoPhillips (NYSE:COP) by 1.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 15,701 shares of the energy producer’s stock after acquiring an additional 291 shares during the quarter. Procyon Advisors LLC’s holdings in ConocoPhillips were worth $1,998,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in COP. Orion Capital Management LLC acquired a new stake in shares of ConocoPhillips in the third quarter valued at $27,000. West Branch Capital LLC grew its position in ConocoPhillips by 87.8% in 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 in the last quarter. Sachetta LLC purchased a new stake in ConocoPhillips during the fourth quarter worth about $27,000. Cooksen Wealth LLC acquired a new stake in shares of ConocoPhillips during the fourth quarter worth about $27,000. Finally, Cape Investment Advisory Inc. boosted its stake in shares of ConocoPhillips by 96.0% in 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 period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $114.00 on Friday. The stock has a market cap of $133.33 billion, a P/E ratio of 12.91, a P/E/G ratio of 2.02 and a beta of 1.22. ConocoPhillips has a twelve month low of $99.35 and a twelve month high of $135.18. The stock has a 50 day moving average of $118.87 and a two-hundred day moving average of $117.54. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, May 2nd. The energy producer reported $2.03 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $14.72 billion. On average, research analysts forecast that ConocoPhillips will post 8.89 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders 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 currently 26.27%.

Wall Street Analyst Weigh In

COP has been the topic of a number of research reports. Piper Sandler increased 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. Morgan Stanley lifted their target price on ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Argus upgraded ConocoPhillips to a “strong-buy” rating in a report on Friday, June 7th. Mizuho reduced their price target on ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 5th. Finally, Royal Bank of Canada boosted their price objective on ConocoPhillips from $135.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 15th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $144.18.

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.