ConocoPhillips (NYSE:COP) Shares Sold by Toth Financial Advisory Corp

Toth Financial Advisory Corp reduced its position in shares of ConocoPhillips (NYSE:COP) by 49.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 229 shares of the energy producer’s stock after selling 220 shares during the period. Toth Financial Advisory Corp’s holdings in ConocoPhillips were worth $29,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Occidental Asset Management LLC grew its holdings in ConocoPhillips by 17.2% during the first quarter. Occidental Asset Management LLC now owns 4,813 shares of the energy producer’s stock worth $613,000 after acquiring an additional 708 shares during the period. Independence Bank of Kentucky increased its stake in ConocoPhillips by 15.7% in the 1st quarter. Independence Bank of Kentucky now owns 4,662 shares of the energy producer’s stock worth $593,000 after purchasing an additional 632 shares in the last quarter. Total Investment Management Inc. purchased a new position in ConocoPhillips in the 1st quarter worth about $207,000. Astoria Portfolio Advisors LLC. increased its stake in ConocoPhillips by 4.0% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 2,232 shares of the energy producer’s stock worth $291,000 after purchasing an additional 85 shares in the last quarter. Finally, Financial Management Professionals Inc. increased its stake in ConocoPhillips by 3.0% in the 1st quarter. Financial Management Professionals Inc. now owns 5,578 shares of the energy producer’s stock worth $710,000 after purchasing an additional 161 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on COP shares. Royal Bank of Canada lifted their price target on ConocoPhillips from $135.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 15th. Truist Financial lifted their price target on ConocoPhillips from $160.00 to $165.00 and gave the company a “buy” rating in a report on Monday, June 3rd. StockNews.com upgraded ConocoPhillips from a “hold” rating to a “buy” rating in a report on Thursday. Argus upgraded ConocoPhillips to a “strong-buy” rating in a report on Friday, June 7th. Finally, Piper Sandler lifted their price target on ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. 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 company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $144.18.

ConocoPhillips Stock Performance

NYSE COP traded up $0.41 during trading on Friday, hitting $114.38. The company’s stock had a trading volume of 7,191,846 shares, compared to its average volume of 7,011,207. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.35. The firm has a 50 day moving average price of $118.30 and a 200 day moving average price of $117.53. The firm has a market cap of $133.77 billion, a P/E ratio of 12.95, a price-to-earnings-growth ratio of 2.03 and a beta of 1.22. ConocoPhillips has a 52 week low of $99.35 and a 52 week high of $135.18.

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

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend was Friday, May 10th. ConocoPhillips’s dividend payout ratio 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.