Outlook Wealth Advisors LLC increased its position in shares of ConocoPhillips (NYSE:COP) by 808.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,234 shares of the energy producer’s stock after purchasing an additional 2,878 shares during the period. Outlook Wealth Advisors LLC’s holdings in ConocoPhillips were worth $216,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Neuberger Berman Group LLC grew its stake in shares of ConocoPhillips by 7.7% during the third quarter. Neuberger Berman Group LLC now owns 289,262 shares of the energy producer’s stock worth $22,388,000 after purchasing an additional 20,758 shares during the period. Vanguard Group Inc grew its stake in shares of ConocoPhillips by 0.5% during the third quarter. Vanguard Group Inc now owns 88,571,791 shares of the energy producer’s stock worth $6,855,456,000 after purchasing an additional 451,104 shares during the period. Weather Gauge Advisory LLC acquired a new stake in shares of ConocoPhillips during the fourth quarter worth $403,000. Lavaca Capital LLC acquired a new stake in shares of ConocoPhillips during the fourth quarter worth $193,000. Finally, Baxter Bros Inc. grew its stake in shares of ConocoPhillips by 4.6% during the fourth quarter. Baxter Bros Inc. now owns 9,143 shares of the energy producer’s stock worth $570,000 after purchasing an additional 400 shares during the period. Hedge funds and other institutional investors own 74.69% of the company’s stock.
NYSE:COP opened at $63.62 on Wednesday. ConocoPhillips has a 1 year low of $56.75 and a 1 year high of $80.24. The company has a quick ratio of 1.72, a current ratio of 1.86 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $70.18 billion, a price-to-earnings ratio of 14.04, a price-to-earnings-growth ratio of 1.50 and a beta of 1.06.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 13th will be paid a $0.305 dividend. The ex-dividend date is Friday, May 10th. This represents a $1.22 dividend on an annualized basis and a yield of 1.92%. ConocoPhillips’s payout ratio is 26.93%.
A number of equities research analysts recently commented on the company. Morgan Stanley set a $77.00 price objective on ConocoPhillips and gave the stock a “buy” rating in a research note on Tuesday, January 29th. ValuEngine raised ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Wednesday. Credit Suisse Group cut ConocoPhillips from an “outperform” rating to a “neutral” rating and set a $64.00 price objective for the company. in a research note on Wednesday, May 1st. Goldman Sachs Group raised ConocoPhillips from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $76.00 to $82.00 in a research note on Sunday, February 3rd. Finally, Zacks Investment Research raised ConocoPhillips from a “hold” rating to a “buy” rating and set a $74.00 target price for the company in a research note on Wednesday, March 13th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $78.60.
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ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.
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