Baker Ellis Asset Management LLC Sells 100 Shares of ConocoPhillips (NYSE:COP)

Baker Ellis Asset Management LLC lessened its holdings in ConocoPhillips (NYSE:COP) by 2.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,370 shares of the energy producer’s stock after selling 100 shares during the quarter. Baker Ellis Asset Management LLC’s holdings in ConocoPhillips were worth $556,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Orion Capital Management LLC acquired a new position in ConocoPhillips during the third quarter worth about $27,000. West Branch Capital LLC raised its stake in ConocoPhillips by 87.8% during the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock worth $27,000 after acquiring an additional 108 shares in the last quarter. Sachetta LLC acquired a new position in ConocoPhillips during the fourth quarter worth about $27,000. Cooksen Wealth LLC acquired a new position in shares of ConocoPhillips in the fourth quarter valued at approximately $27,000. Finally, Cape Investment Advisory Inc. increased its stake in shares of ConocoPhillips by 96.0% in the fourth 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 during the period. Institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

COP has been the subject of several recent research reports. Argus raised ConocoPhillips to a “strong-buy” rating in a research note on Friday, June 7th. Truist Financial upped their price objective on ConocoPhillips from $160.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, June 3rd. Susquehanna upped their price objective on ConocoPhillips from $133.00 to $154.00 and gave the company a “positive” rating in a research note on Monday, April 22nd. Morgan Stanley upped their price objective on ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Finally, Piper Sandler upped their price objective on ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Four 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. According to MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and an average target price of $144.18.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $114.38 on Friday. The stock has a market capitalization of $133.77 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 2.04 and a beta of 1.22. ConocoPhillips has a 52-week low of $99.35 and a 52-week high of $135.18. The stock’s 50 day moving average price is $118.30 and its two-hundred day moving average price is $117.58. 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 issued its earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $14.72 billion. On average, equities analysts predict that ConocoPhillips will post 8.89 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 13th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend was Friday, May 10th. ConocoPhillips’s 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.