Thrive Wealth Management LLC Purchases 316 Shares of ConocoPhillips (NYSE:COP)

Thrive Wealth Management LLC boosted its position in ConocoPhillips (NYSE:COP) by 8.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,952 shares of the energy producer’s stock after acquiring an additional 316 shares during the quarter. Thrive Wealth Management LLC’s holdings in ConocoPhillips were worth $503,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Orion Capital Management LLC bought a new position in ConocoPhillips in the third quarter valued at $27,000. West Branch Capital LLC increased its stake in ConocoPhillips by 87.8% in the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after acquiring an additional 108 shares during the last quarter. Sachetta LLC bought a new position in ConocoPhillips in the fourth quarter valued at $27,000. Cooksen Wealth LLC bought a new position in ConocoPhillips in the fourth quarter valued at $27,000. Finally, Cape Investment Advisory Inc. increased its stake in ConocoPhillips by 96.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 121 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

COP has been the topic of a number of recent research reports. StockNews.com raised ConocoPhillips from a “hold” rating to a “buy” rating in a research note 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. Royal Bank of Canada raised their price objective on ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, May 15th. Piper Sandler raised their price objective on ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Finally, Mizuho reduced their price objective on ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 5th. Four research 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $144.18.

ConocoPhillips Stock Up 0.3 %

COP traded up $0.29 on Friday, hitting $114.26. The company had a trading volume of 486,287 shares, compared to its average volume of 5,644,854. 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 52-week low of $99.35 and a 52-week high of $135.18. The stock has a fifty day simple moving average of $118.87 and a 200-day simple moving average of $117.54. The firm has a market capitalization of $133.63 billion, a P/E ratio of 12.91, a P/E/G ratio of 2.02 and a beta of 1.22.

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

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were issued a dividend of $0.78 per share. The ex-dividend date was Friday, May 10th. This represents a $3.12 annualized dividend and a dividend yield of 2.73%. ConocoPhillips’s payout ratio is 26.27%.

ConocoPhillips Company 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.