ConocoPhillips (NYSE:COP) is Fiduciary Alliance LLC’s 5th Largest Position

Fiduciary Alliance LLC cut its stake in ConocoPhillips (NYSE:COP) by 1.1% during the first quarter, HoldingsChannel reports. The institutional investor owned 152,091 shares of the energy producer’s stock after selling 1,745 shares during the quarter. ConocoPhillips comprises approximately 3.5% of Fiduciary Alliance LLC’s portfolio, making the stock its 5th biggest holding. Fiduciary Alliance LLC’s holdings in ConocoPhillips were worth $19,571,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sandy Cove Advisors LLC acquired a new stake in shares of ConocoPhillips in the first quarter valued at approximately $207,000. Red Door Wealth Management LLC grew its position in shares of ConocoPhillips by 29.0% in the first quarter. Red Door Wealth Management LLC now owns 4,218 shares of the energy producer’s stock valued at $537,000 after purchasing an additional 948 shares during the last quarter. Cornerstone Wealth Group LLC boosted its stake in shares of ConocoPhillips by 3.9% during the 1st quarter. Cornerstone Wealth Group LLC now owns 64,162 shares of the energy producer’s stock worth $8,167,000 after purchasing an additional 2,403 shares during the last quarter. Richardson Capital Management LLC purchased a new position in ConocoPhillips during the first quarter worth about $31,000. Finally, Physician Wealth Advisors Inc. raised its stake in ConocoPhillips by 3.6% during the first quarter. Physician Wealth Advisors Inc. now owns 2,940 shares of the energy producer’s stock worth $381,000 after purchasing an additional 103 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Price Performance

COP stock traded up $0.41 during mid-day trading on Friday, reaching $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’s 50 day moving average is $118.30 and its two-hundred day moving average is $117.58. The stock has a market cap of $133.77 billion, a PE ratio of 12.95, a P/E/G ratio of 2.04 and a beta of 1.22. 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 has a fifty-two week low of $99.35 and a fifty-two week high of $135.18.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, May 2nd. The energy producer reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.04. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. The company had revenue of $14.48 billion during the quarter, compared to analysts’ expectations of $14.72 billion. Equities research analysts expect that ConocoPhillips will post 8.89 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend was Friday, May 10th. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.27%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on COP shares. Raymond James restated a “strong-buy” rating and set a $159.00 price target (up previously from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Mizuho dropped their price objective on ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating on the stock in a report on Wednesday, June 5th. Barclays lifted their price objective on ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Wells Fargo & Company lifted their price objective on ConocoPhillips from $149.00 to $151.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Finally, Truist Financial boosted their price objective on shares of ConocoPhillips from $160.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, June 3rd. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.