Accel Wealth Management Purchases Shares of 2,782 ConocoPhillips (NYSE:COP)

Accel Wealth Management purchased a new stake in ConocoPhillips (NYSE:COP) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,782 shares of the energy producer’s stock, valued at approximately $354,000.

A number of other hedge funds also recently bought and sold shares of the stock. First Trust Direct Indexing L.P. raised its position in ConocoPhillips by 5.6% in the 1st quarter. First Trust Direct Indexing L.P. now owns 26,083 shares of the energy producer’s stock valued at $3,320,000 after purchasing an additional 1,390 shares in the last quarter. Kovack Advisors Inc. raised its position in ConocoPhillips by 5.6% in the 1st quarter. Kovack Advisors Inc. now owns 24,549 shares of the energy producer’s stock valued at $3,125,000 after purchasing an additional 1,308 shares in the last quarter. Massachusetts Wealth Management raised its position in ConocoPhillips by 0.3% in the 1st quarter. Massachusetts Wealth Management now owns 31,608 shares of the energy producer’s stock valued at $4,023,000 after purchasing an additional 100 shares in the last quarter. Westside Investment Management Inc. raised its position in ConocoPhillips by 50.0% in the 1st quarter. Westside Investment Management Inc. now owns 1,500 shares of the energy producer’s stock valued at $192,000 after purchasing an additional 500 shares in the last quarter. Finally, Norden Group LLC raised its position in ConocoPhillips by 2,634.9% in the 1st quarter. Norden Group LLC now owns 124,440 shares of the energy producer’s stock valued at $15,838,000 after purchasing an additional 119,890 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on COP. Raymond James reissued a “strong-buy” rating and set a $159.00 target price (up previously from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Scotiabank raised their target price on ConocoPhillips from $120.00 to $135.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 11th. Morgan Stanley raised their target price on ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Bank of America reissued a “buy” rating and set a $147.00 target price on shares of ConocoPhillips in a research report on Friday, June 14th. Finally, Truist Financial raised their target price on ConocoPhillips from $160.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, June 3rd. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus target price of $144.18.

ConocoPhillips Trading Up 0.6 %

Shares of COP stock opened at $114.77 on Friday. The business’s 50 day moving average is $117.09 and its two-hundred day moving average is $117.57. ConocoPhillips has a twelve month low of $99.35 and a twelve month high of $135.18. The company has a market capitalization of $134.23 billion, a P/E ratio of 13.00, a price-to-earnings-growth ratio of 2.05 and a beta of 1.23. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share for the quarter, beating 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 company had revenue of $14.48 billion for the quarter, compared to the consensus estimate of $14.72 billion. Equities analysts forecast that ConocoPhillips will post 8.89 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were paid a $0.78 dividend. The ex-dividend date was Friday, May 10th. This represents a $3.12 annualized dividend and a dividend yield of 2.72%. ConocoPhillips’s dividend payout ratio (DPR) is currently 26.27%.

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.