SteelPeak Wealth LLC Increases Holdings in ConocoPhillips (NYSE:COP)

SteelPeak Wealth LLC lifted its position in shares of ConocoPhillips (NYSE:COP) by 42.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,432 shares of the energy producer’s stock after buying an additional 10,305 shares during the period. SteelPeak Wealth LLC’s holdings in ConocoPhillips were worth $4,383,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA grew its position in ConocoPhillips by 0.4% during 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 last quarter. Price T Rowe Associates Inc. MD grew 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 buying an additional 4,726,952 shares during the last quarter. Dimensional Fund Advisors LP grew 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 buying an additional 270,859 shares during the last quarter. Ameriprise Financial Inc. grew 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 buying an additional 659,632 shares during the last quarter. Finally, Fisher Asset Management LLC grew 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 buying an additional 204,714 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Up 0.4 %

COP stock opened at $114.38 on Monday. ConocoPhillips has a 1-year low of $99.35 and a 1-year high of $135.18. The business has a fifty day moving average price of $118.30 and a 200-day moving average price of $117.62. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.35 and a quick ratio of 1.21. The stock has a market capitalization of $133.77 billion, a P/E ratio of 12.95, a P/E/G ratio of 2.04 and a beta of 1.24.

ConocoPhillips (NYSE:COP) last posted its quarterly 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 return on equity of 20.85% and a net margin of 18.40%. The firm had revenue of $14.48 billion during the quarter, compared to analysts’ expectations of $14.72 billion. Equities analysts forecast that ConocoPhillips will post 8.89 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 13th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend was Friday, May 10th. ConocoPhillips’s payout ratio is currently 26.27%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Morgan Stanley lifted their price objective on ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Wells Fargo & Company lifted their price objective on ConocoPhillips from $149.00 to $151.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Argus upgraded ConocoPhillips to a “strong-buy” rating in a research note on Friday, June 7th. Royal Bank of Canada raised 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. Finally, Scotiabank raised their target price on ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a research note on Thursday, April 11th. 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 company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $144.18.

ConocoPhillips 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.