Royal Fund Management LLC Trims Stock Holdings in ConocoPhillips (NYSE:COP)

Royal Fund Management LLC lessened its holdings in shares of ConocoPhillips (NYSE:COP) by 3.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,039 shares of the energy producer’s stock after selling 105 shares during the period. Royal Fund Management LLC’s holdings in ConocoPhillips were worth $387,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of COP. Massachusetts Financial Services Co. MA increased its holdings in shares of ConocoPhillips by 0.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 27,672,104 shares of the energy producer’s stock valued at $3,211,901,000 after acquiring an additional 108,956 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in ConocoPhillips by 24.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 23,712,617 shares of the energy producer’s stock valued at $2,752,325,000 after purchasing an additional 4,726,952 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of ConocoPhillips by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 12,011,035 shares of the energy producer’s stock worth $1,394,162,000 after buying an additional 270,859 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of ConocoPhillips by 8.9% during the third quarter. Ameriprise Financial Inc. now owns 8,063,795 shares of the energy producer’s stock valued at $968,410,000 after acquiring an additional 659,632 shares in the last quarter. Finally, Fisher Asset Management LLC raised its holdings in ConocoPhillips by 2.8% in the 4th quarter. Fisher Asset Management LLC now owns 7,425,948 shares of the energy producer’s stock worth $861,930,000 after acquiring an additional 204,714 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

COP has been the subject of a number of research analyst reports. Susquehanna lifted their target price on ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a report on Monday, April 22nd. StockNews.com raised ConocoPhillips from a “hold” rating to a “buy” rating in a research report on Wednesday, June 12th. Mizuho dropped their price target on shares of ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating on the stock in a report on Wednesday, June 5th. Truist Financial boosted their price objective on shares of ConocoPhillips from $160.00 to $165.00 and gave the company a “buy” rating in a report on Monday, June 3rd. Finally, Piper Sandler raised their target price on shares of ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $144.18.

ConocoPhillips Price Performance

NYSE:COP traded up $1.77 during trading hours on Monday, hitting $113.11. 403,753 shares of the stock traded hands, compared to its average volume of 5,642,062. The company has a market cap of $132.29 billion, a price-to-earnings ratio of 12.61, a price-to-earnings-growth ratio of 1.98 and a beta of 1.22. ConocoPhillips has a 1 year low of $99.35 and a 1 year high of $135.18. The stock has a 50 day moving average price of $119.76 and a 200 day moving average price of $117.52. 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 earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share 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 company had revenue of $14.48 billion during the quarter, compared to the consensus estimate of $14.72 billion. Sell-side analysts forecast that ConocoPhillips will post 8.91 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 13th were issued a $0.78 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $3.12 dividend on an annualized basis and a yield of 2.76%. ConocoPhillips’s dividend payout ratio is presently 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.