Hennion & Walsh Asset Management Inc. Has $3.59 Million Holdings in ConocoPhillips (NYSE:COP)

Hennion & Walsh Asset Management Inc. raised its stake in ConocoPhillips (NYSE:COP) by 20.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,164 shares of the energy producer’s stock after purchasing an additional 4,831 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in ConocoPhillips were worth $3,585,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in COP. Occidental Asset Management LLC boosted its position in ConocoPhillips by 17.2% during the first quarter. Occidental Asset Management LLC now owns 4,813 shares of the energy producer’s stock worth $613,000 after purchasing an additional 708 shares during the period. Independence Bank of Kentucky increased its position in ConocoPhillips by 15.7% during the first quarter. Independence Bank of Kentucky now owns 4,662 shares of the energy producer’s stock worth $593,000 after acquiring an additional 632 shares during the period. Total Investment Management Inc. acquired a new stake in ConocoPhillips in the 1st quarter worth about $207,000. Astoria Portfolio Advisors LLC. boosted its holdings in 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 purchasing an additional 85 shares during the period. Finally, Financial Management Professionals Inc. grew its position in ConocoPhillips by 3.0% during the first quarter. Financial Management Professionals Inc. now owns 5,578 shares of the energy producer’s stock worth $710,000 after buying an additional 161 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Mizuho decreased their price target on ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 5th. Scotiabank upped their price target on shares of ConocoPhillips from $120.00 to $135.00 and gave the stock a “sector perform” rating in a report on Thursday, April 11th. StockNews.com upgraded ConocoPhillips from a “hold” rating to a “buy” rating in a research note on Thursday. Wells Fargo & Company lifted their price target on ConocoPhillips from $149.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Finally, Piper Sandler lifted their target price on ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $144.18.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $114.38 on Friday. 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 one year low of $99.35 and a one year high of $135.18. The business has a 50-day simple moving average of $118.30 and a 200 day simple moving average of $117.58. The firm 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 (NYSE:COP) last posted its quarterly earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $14.72 billion. On average, research analysts anticipate that ConocoPhillips will post 8.89 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

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 $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 (DPR) is presently 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.