Sendero Wealth Management LLC Acquires 90 Shares of ConocoPhillips (NYSE:COP)

Sendero Wealth Management LLC lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 0.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,076 shares of the energy producer’s stock after purchasing an additional 90 shares during the period. ConocoPhillips accounts for about 1.4% of Sendero Wealth Management LLC’s portfolio, making the stock its 11th biggest position. Sendero Wealth Management LLC’s holdings in ConocoPhillips were worth $8,410,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA boosted its position in shares of ConocoPhillips by 0.4% during the 4th 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 in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in 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 worth $2,752,325,000 after acquiring an additional 4,726,952 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in ConocoPhillips by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 12,011,035 shares of the energy producer’s stock worth $1,394,162,000 after acquiring an additional 270,859 shares in the last quarter. Ameriprise Financial Inc. grew its stake in ConocoPhillips by 8.9% in the third quarter. Ameriprise Financial Inc. now owns 8,063,795 shares of the energy producer’s stock valued at $968,410,000 after acquiring an additional 659,632 shares during the period. Finally, Fisher Asset Management LLC increased its holdings in shares of ConocoPhillips by 2.8% during the fourth quarter. Fisher Asset Management LLC now owns 7,425,948 shares of the energy producer’s stock valued at $861,930,000 after acquiring an additional 204,714 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on COP. Wells Fargo & Company boosted their price target on shares of ConocoPhillips from $149.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Raymond James reissued a “strong-buy” rating and set a $159.00 target price (up from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Truist Financial raised their price target on shares of ConocoPhillips from $160.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, June 3rd. Mizuho decreased their price objective on ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating for the company in a report on Wednesday, June 5th. Finally, Morgan Stanley raised their target price on ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Four equities 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, the stock has an average rating of “Moderate Buy” and an average price target of $144.18.

ConocoPhillips Stock Performance

COP traded up $0.41 during trading on Friday, hitting $114.38. 7,191,744 shares of the company traded hands, compared to its average volume of 5,700,099. ConocoPhillips has a one year low of $99.35 and a one year high of $135.18. The stock’s fifty day moving average is $118.30 and its 200 day moving average is $117.53. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.35. The firm has a market cap of $133.77 billion, a P/E ratio of 12.95, a price-to-earnings-growth ratio of 2.02 and a beta of 1.22.

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

ConocoPhillips Announces Dividend

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