Dumont & Blake Investment Advisors LLC Reduces Stake in ConocoPhillips (NYSE:COP)

Dumont & Blake Investment Advisors LLC lessened its stake in shares of ConocoPhillips (NYSE:COP) by 8.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,317 shares of the energy producer’s stock after selling 820 shares during the quarter. Dumont & Blake Investment Advisors LLC’s holdings in ConocoPhillips were worth $1,186,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of COP. Orion Capital Management LLC bought a new position in ConocoPhillips in the 3rd quarter worth about $27,000. West Branch Capital LLC raised its stake in ConocoPhillips by 87.8% in the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after purchasing an additional 108 shares in the last quarter. Sachetta LLC purchased a new position in ConocoPhillips in the 4th quarter worth approximately $27,000. Cooksen Wealth LLC bought a new position in shares of ConocoPhillips in the 4th quarter worth $27,000. Finally, Cape Investment Advisory Inc. raised its position in shares of ConocoPhillips by 96.0% during the 4th quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock valued at $29,000 after buying an additional 121 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

COP has been the topic of a number of research reports. Susquehanna raised their price target on ConocoPhillips from $133.00 to $154.00 and gave the company a “positive” rating in a research report on Monday, April 22nd. Truist Financial boosted their target price on ConocoPhillips from $160.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, June 3rd. Piper Sandler increased their price target on shares of ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Argus upgraded shares of ConocoPhillips to a “strong-buy” rating in a report on Friday, June 7th. Finally, Morgan Stanley increased their target price 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 analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and an average price target of $144.18.

ConocoPhillips Trading Up 0.4 %

Shares of COP traded up $0.41 during mid-day trading on Friday, hitting $114.38. 7,191,846 shares of the company’s stock traded hands, compared to its average volume of 7,011,207. The business’s 50-day moving average price is $118.30 and its 200-day moving average price is $117.58. ConocoPhillips has a 1 year low of $99.35 and a 1 year high of $135.18. The firm has a market capitalization of $133.77 billion, a P/E ratio of 12.95, a PEG ratio of 2.04 and a beta of 1.22. 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 quarterly earnings data on Thursday, May 2nd. The energy producer reported $2.03 EPS for the quarter, topping 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 business had revenue of $14.48 billion during the quarter, compared to analyst estimates of $14.72 billion. As a group, sell-side analysts forecast that ConocoPhillips will post 8.89 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.73%. The ex-dividend date was Friday, May 10th. ConocoPhillips’s dividend payout ratio is currently 26.27%.

About ConocoPhillips

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.