ConocoPhillips (NYSE:COP) Position Increased by Breakwater Capital Group

Breakwater Capital Group increased its stake in ConocoPhillips (NYSE:COP) by 3.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,080 shares of the energy producer’s stock after purchasing an additional 138 shares during the period. Breakwater Capital Group’s holdings in ConocoPhillips were worth $519,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in COP. Astoria Portfolio Advisors LLC. raised its stake in ConocoPhillips by 4.0% during the 1st quarter. Astoria Portfolio Advisors LLC. now owns 2,232 shares of the energy producer’s stock valued at $291,000 after acquiring an additional 85 shares in the last quarter. Evergreen Capital Management LLC raised its stake in ConocoPhillips by 0.5% during the 3rd quarter. Evergreen Capital Management LLC now owns 18,944 shares of the energy producer’s stock valued at $2,270,000 after acquiring an additional 89 shares in the last quarter. Adirondack Trust Co. raised its stake in ConocoPhillips by 3.1% during the 4th quarter. Adirondack Trust Co. now owns 2,990 shares of the energy producer’s stock valued at $336,000 after acquiring an additional 90 shares in the last quarter. West Paces Advisors Inc. raised its stake in ConocoPhillips by 5.9% during the 1st quarter. West Paces Advisors Inc. now owns 1,659 shares of the energy producer’s stock valued at $211,000 after acquiring an additional 93 shares in the last quarter. Finally, Greenfield Savings Bank raised its stake in ConocoPhillips by 1.3% during the 4th quarter. Greenfield Savings Bank now owns 7,520 shares of the energy producer’s stock valued at $873,000 after acquiring an additional 94 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on COP shares. Royal Bank of Canada lifted their target price on ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, May 15th. Susquehanna lifted their price target on ConocoPhillips from $133.00 to $154.00 and gave the company a “positive” rating in a research report on Monday, April 22nd. Truist Financial lifted their price target on ConocoPhillips from $160.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, June 3rd. Raymond James reiterated a “strong-buy” rating and set a $159.00 price target (up from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Finally, Bank of America reiterated a “buy” rating and set a $147.00 price target on shares of ConocoPhillips in a research report on Friday, June 14th. Four 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, the company has a consensus rating of “Moderate Buy” and an average target price of $144.18.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $114.38 on Monday. The stock has a market cap of $133.77 billion, a PE ratio of 12.95, a price-to-earnings-growth ratio of 2.04 and a beta of 1.24. The business has a fifty day simple moving average of $118.30 and a 200-day simple moving average of $117.62. 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 has a 12 month low of $99.35 and a 12 month high of $135.18.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, May 2nd. The energy producer reported $2.03 EPS for the quarter, topping the consensus estimate of $1.99 by $0.04. The business 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, sell-side analysts anticipate that ConocoPhillips will post 8.89 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were given 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 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.