ConocoPhillips (NYSE:COP) Shares Sold by RBA Wealth Management LLC

RBA Wealth Management LLC lessened its holdings in shares of ConocoPhillips (NYSE:COP) by 11.5% in the first quarter, Holdings Channel reports. The firm owned 2,484 shares of the energy producer’s stock after selling 324 shares during the period. RBA Wealth Management LLC’s holdings in ConocoPhillips were worth $316,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of COP. Astoria Portfolio Advisors LLC. raised its stake in shares of ConocoPhillips by 4.0% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 2,232 shares of the energy producer’s stock valued at $291,000 after acquiring an additional 85 shares during the period. Evergreen Capital Management LLC boosted its position in shares of ConocoPhillips by 0.5% in the third quarter. Evergreen Capital Management LLC now owns 18,944 shares of the energy producer’s stock worth $2,270,000 after buying an additional 89 shares during the period. Adirondack Trust Co. grew its stake in shares of ConocoPhillips by 3.1% in the fourth quarter. Adirondack Trust Co. now owns 2,990 shares of the energy producer’s stock valued at $336,000 after buying an additional 90 shares in the last quarter. Mayfair Advisory Group LLC raised its holdings in shares of ConocoPhillips by 3.5% during the 1st quarter. Mayfair Advisory Group LLC now owns 2,627 shares of the energy producer’s stock valued at $334,000 after buying an additional 90 shares during the period. Finally, West Paces Advisors Inc. lifted its position in ConocoPhillips by 5.9% during the 1st 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.

ConocoPhillips Stock Performance

Shares of COP traded up $0.65 during mid-day trading on Thursday, reaching $114.77. 2,326,248 shares of the company’s stock traded hands, compared to its average volume of 6,326,732. The stock has a market capitalization 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. The business’s 50-day moving average price is $117.39 and its 200-day moving average price is $117.59. ConocoPhillips has a 12 month low of $99.35 and a 12 month high of $135.18. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.21 and a current ratio of 1.35.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, May 2nd. The energy producer reported $2.03 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 18.40% and a return on equity of 20.85%. Equities analysts predict that ConocoPhillips will post 8.89 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 2.72%. 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 research analysts have recently weighed in on the stock. Truist Financial upped their target price on shares of ConocoPhillips from $160.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, June 3rd. Royal Bank of Canada raised their target price on ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, May 15th. Scotiabank boosted their price target on ConocoPhillips from $120.00 to $135.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 11th. StockNews.com upgraded ConocoPhillips from a “hold” rating to a “buy” rating in a report on Thursday, June 27th. Finally, Bank of America reiterated a “buy” rating and set a $147.00 target price on shares of ConocoPhillips in a research note on Friday, June 14th. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target 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.