Baugh & Associates LLC Sells 316 Shares of ConocoPhillips (NYSE:COP)

Baugh & Associates LLC reduced its stake in shares of ConocoPhillips (NYSE:COP) by 1.0% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 31,493 shares of the energy producer’s stock after selling 316 shares during the period. ConocoPhillips comprises approximately 2.1% of Baugh & Associates LLC’s portfolio, making the stock its 25th biggest position. Baugh & Associates LLC’s holdings in ConocoPhillips were worth $4,008,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of COP. Massachusetts Financial Services Co. MA boosted its holdings in ConocoPhillips by 0.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 27,672,104 shares of the energy producer’s stock worth $3,211,901,000 after purchasing an additional 108,956 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of ConocoPhillips by 24.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 23,712,617 shares of the energy producer’s stock valued at $2,752,325,000 after acquiring an additional 4,726,952 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of ConocoPhillips by 2.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 12,011,035 shares of the energy producer’s stock valued at $1,394,162,000 after acquiring an additional 270,859 shares during the last quarter. Ameriprise Financial Inc. boosted its position in ConocoPhillips by 8.9% in the third quarter. Ameriprise Financial Inc. now owns 8,063,795 shares of the energy producer’s stock worth $968,410,000 after purchasing an additional 659,632 shares during the last quarter. Finally, Fisher Asset Management LLC increased its position in shares of ConocoPhillips by 2.8% during the 4th quarter. Fisher Asset Management LLC now owns 7,425,948 shares of the energy producer’s stock valued at $861,930,000 after purchasing an additional 204,714 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. 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. Raymond James reaffirmed a “strong-buy” rating and issued a $159.00 price target (up previously from $155.00) on shares of ConocoPhillips in a report on Thursday, May 30th. StockNews.com upgraded ConocoPhillips from a “hold” rating to a “buy” rating in a research report on Thursday. Truist Financial raised their price objective on ConocoPhillips from $160.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, June 3rd. Finally, Piper Sandler boosted their target price on ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $144.18.

ConocoPhillips Price Performance

Shares of COP stock traded up $0.17 on Friday, hitting $114.14. 2,043,515 shares of the stock traded hands, compared to its average volume of 5,658,583. The firm has a market cap of $133.49 billion, a price-to-earnings ratio of 12.98, a PEG ratio of 2.02 and a beta of 1.22. 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 firm has a 50 day simple moving average of $118.87 and a two-hundred day simple moving average of $117.54. ConocoPhillips has a 52 week low of $99.35 and a 52 week high of $135.18.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, May 2nd. The energy producer reported $2.03 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.04. The firm had revenue of $14.48 billion during the quarter, compared to analyst estimates of $14.72 billion. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. As a group, equities research analysts predict that ConocoPhillips will post 8.89 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

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