Ceeto Capital Group LLC Raises Holdings in ConocoPhillips (NYSE:COP)

Ceeto Capital Group LLC lifted its holdings in ConocoPhillips (NYSE:COP) by 100.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,000 shares of the energy producer’s stock after acquiring an additional 3,000 shares during the period. Ceeto Capital Group LLC’s holdings in ConocoPhillips were worth $764,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. West Branch Capital LLC lifted its holdings in shares of 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 during the last quarter. Sachetta LLC bought a new position in shares of ConocoPhillips in the 4th quarter valued at about $27,000. Cooksen Wealth LLC bought a new position in shares of ConocoPhillips in the 4th quarter valued at about $27,000. Cape Investment Advisory Inc. lifted its holdings in shares of ConocoPhillips by 96.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 121 shares during the last quarter. Finally, Richardson Capital Management LLC bought a new position in shares of ConocoPhillips in the 1st quarter valued at about $31,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Down 0.2 %

NYSE COP traded down $0.17 on Friday, hitting $110.86. The stock had a trading volume of 5,199,044 shares, compared to its average volume of 4,714,127. The business’s fifty day moving average price is $113.75 and its 200 day moving average price is $117.21. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.35 and a quick ratio of 1.21. ConocoPhillips has a 52-week low of $105.77 and a 52-week high of $135.18. The stock has a market cap of $129.65 billion, a price-to-earnings ratio of 12.55, a price-to-earnings-growth ratio of 2.19 and a beta of 1.23.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share (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 for the quarter, compared to analyst estimates of $14.72 billion. Equities research analysts anticipate that ConocoPhillips will post 8.73 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were paid a dividend of $0.78 per share. The ex-dividend date was Friday, May 10th. This represents a $3.12 annualized dividend and a dividend yield of 2.81%. ConocoPhillips’s payout ratio is currently 26.27%.

Analysts Set New Price Targets

Several brokerages have issued reports on COP. StockNews.com downgraded shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Susquehanna raised their price objective on shares of ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a research note on Monday, April 22nd. Piper Sandler raised their price objective on shares of ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Argus raised shares of ConocoPhillips to a “strong-buy” rating in a research note on Friday, June 7th. Finally, Truist Financial decreased their price objective on shares of ConocoPhillips from $165.00 to $147.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Five 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 data from MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and an average price target of $143.24.

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.