Occidental Asset Management LLC Acquires 708 Shares of ConocoPhillips (NYSE:COP)

Occidental Asset Management LLC boosted its holdings in shares of ConocoPhillips (NYSE:COP) by 17.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,813 shares of the energy producer’s stock after purchasing an additional 708 shares during the quarter. Occidental Asset Management LLC’s holdings in ConocoPhillips were worth $613,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its position in shares of ConocoPhillips by 0.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 27,672,104 shares of the energy producer’s stock worth $3,211,901,000 after acquiring an additional 108,956 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of ConocoPhillips by 24.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 23,712,617 shares of the energy producer’s stock worth $2,752,325,000 after acquiring an additional 4,726,952 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of ConocoPhillips by 2.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 12,011,035 shares of the energy producer’s stock worth $1,394,162,000 after acquiring an additional 270,859 shares during the period. Ameriprise Financial Inc. lifted its position in shares of ConocoPhillips by 8.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 8,063,795 shares of the energy producer’s stock worth $968,410,000 after acquiring an additional 659,632 shares during the period. Finally, Fisher Asset Management LLC lifted its position in shares of 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 period. Institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

COP has been the subject of a number of recent research reports. Raymond James reissued a “strong-buy” rating and issued a $159.00 target price (up from $155.00) on shares of ConocoPhillips in a report on Thursday, May 30th. Bank of America reissued a “buy” rating and issued a $147.00 target price on shares of ConocoPhillips in a report on Friday, June 14th. Truist Financial increased their target price on ConocoPhillips from $160.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, June 3rd. StockNews.com raised ConocoPhillips from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Royal Bank of Canada increased their target price on ConocoPhillips from $135.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, May 15th. Four equities 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’s stock. According to MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and an average target price of $144.18.

ConocoPhillips Stock Up 0.4 %

NYSE COP opened at $114.38 on Friday. The stock has a fifty day moving average of $118.30 and a 200-day moving average of $117.58. The stock has a market capitalization of $133.77 billion, a P/E ratio of 12.95, a price-to-earnings-growth 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 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 released its earnings results on Thursday, May 2nd. The energy producer reported $2.03 EPS for the quarter, beating the consensus estimate of $1.99 by $0.04. The company had revenue of $14.48 billion during the quarter, compared to analysts’ expectations of $14.72 billion. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. On average, equities research analysts forecast that ConocoPhillips will post 8.89 EPS for the current 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 paid a $0.78 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $3.12 annualized dividend and a dividend yield of 2.73%. ConocoPhillips’s dividend payout ratio (DPR) is currently 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.