Brinker Capital Investments LLC reduced its stake in ConocoPhillips (NYSE:COP) by 32.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 150,912 shares of the energy producer’s stock after selling 72,635 shares during the period. Brinker Capital Investments LLC’s holdings in ConocoPhillips were worth $7,994,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in COP. First Trust Advisors LP increased its holdings in ConocoPhillips by 18.4% in the 4th quarter. First Trust Advisors LP now owns 720,348 shares of the energy producer’s stock valued at $28,807,000 after acquiring an additional 112,127 shares during the last quarter. Savant Capital LLC bought a new stake in shares of ConocoPhillips in the 4th quarter worth about $226,000. CIBC Asset Management Inc increased its holdings in shares of ConocoPhillips by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 126,294 shares of the energy producer’s stock worth $5,050,000 after buying an additional 6,315 shares during the last quarter. Baker Tilly Financial LLC bought a new stake in shares of ConocoPhillips in the 4th quarter worth about $395,000. Finally, Meritage Portfolio Management bought a new stake in shares of ConocoPhillips in the 4th quarter worth about $3,475,000. Institutional investors own 77.60% of the company’s stock.
A number of analysts have recently weighed in on COP shares. Morgan Stanley boosted their target price on shares of ConocoPhillips from $58.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, March 11th. KeyCorp boosted their target price on shares of ConocoPhillips from $63.00 to $65.00 and gave the stock an “overweight” rating in a report on Thursday. Truist Financial boosted their target price on shares of ConocoPhillips from $50.00 to $60.00 in a report on Monday, April 19th. Raymond James upgraded shares of ConocoPhillips from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from $80.00 to $85.00 in a report on Friday, May 7th. Finally, Piper Sandler upped their price target on shares of ConocoPhillips from $50.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, April 1st. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. ConocoPhillips presently has an average rating of “Buy” and an average target price of $60.81.
ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Tuesday, May 4th. The energy producer reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.12. ConocoPhillips had a net margin of 0.08% and a negative return on equity of 1.85%. The company had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $7.73 billion. During the same period in the previous year, the company earned $0.45 EPS. On average, research analysts predict that ConocoPhillips will post 3.34 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 1st. Stockholders of record on Friday, May 14th were given a $0.43 dividend. The ex-dividend date was Thursday, May 13th. This represents a $1.72 annualized dividend and a dividend yield of 2.86%. ConocoPhillips’s payout ratio is presently -177.32%.
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 conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations.
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