Chesley Taft & Associates LLC Increases Stake in ConocoPhillips (NYSE:COP)

Chesley Taft & Associates LLC grew its stake in shares of ConocoPhillips (NYSE:COP) by 0.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,604 shares of the energy producer’s stock after purchasing an additional 125 shares during the quarter. Chesley Taft & Associates LLC’s holdings in ConocoPhillips were worth $3,513,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in COP. Wealth Enhancement Advisory Services LLC raised its position in ConocoPhillips by 0.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 248,009 shares of the energy producer’s stock valued at $31,567,000 after purchasing an additional 1,243 shares during the last quarter. Procyon Advisors LLC increased its stake in shares of ConocoPhillips by 1.9% during the first quarter. Procyon Advisors LLC now owns 15,701 shares of the energy producer’s stock valued at $1,998,000 after buying an additional 291 shares during the period. Cardinal Capital Management raised its holdings in shares of ConocoPhillips by 6.5% during the first quarter. Cardinal Capital Management now owns 76,028 shares of the energy producer’s stock valued at $9,677,000 after acquiring an additional 4,635 shares in the last quarter. Signet Financial Management LLC lifted its stake in ConocoPhillips by 7.6% in the first quarter. Signet Financial Management LLC now owns 4,914 shares of the energy producer’s stock worth $625,000 after acquiring an additional 348 shares during the period. Finally, Aletheian Wealth Advisors LLC bought a new stake in ConocoPhillips in the first quarter valued at $203,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Up 0.3 %

COP stock traded up $0.39 during trading on Thursday, hitting $114.00. 3,846,496 shares of the stock traded hands, compared to its average volume of 5,687,968. The stock has a market cap of $133.33 billion, a price-to-earnings ratio of 12.88, a price-to-earnings-growth ratio of 2.05 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. ConocoPhillips has a 1 year low of $99.35 and a 1 year high of $135.18. The firm’s 50 day moving average is $118.87 and its two-hundred day moving average is $117.54.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, May 2nd. The energy producer reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.04. The firm had revenue of $14.48 billion for the quarter, compared to analysts’ expectations of $14.72 billion. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. On average, sell-side analysts anticipate that ConocoPhillips will post 8.89 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date was Friday, May 10th. ConocoPhillips’s payout ratio is 26.27%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on COP shares. Raymond James reissued a “strong-buy” rating and set a $159.00 price objective (up from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Bank of America restated a “buy” rating and issued a $147.00 price objective on shares of ConocoPhillips in a report on Friday, June 14th. Piper Sandler upped their target price on ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Barclays raised their target price on ConocoPhillips from $158.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Finally, Truist Financial upped their price target on ConocoPhillips from $160.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, June 3rd. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $144.18.

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.