MV Capital Management Inc. Acquires 110 Shares of ConocoPhillips (NYSE:COP)

MV Capital Management Inc. lifted its holdings in ConocoPhillips (NYSE:COP) by 6.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,952 shares of the energy producer’s stock after acquiring an additional 110 shares during the period. MV Capital Management Inc.’s holdings in ConocoPhillips were worth $248,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Leonard Rickey Investment Advisors P.L.L.C. increased its position in ConocoPhillips by 6.9% in the 1st quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 2,251 shares of the energy producer’s stock valued at $287,000 after buying an additional 146 shares in the last quarter. Farmers & Merchants Investments Inc. increased its position in ConocoPhillips by 0.9% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 105,776 shares of the energy producer’s stock valued at $13,463,000 after buying an additional 972 shares in the last quarter. Cullinan Associates Inc. increased its position in ConocoPhillips by 12.8% in the 1st quarter. Cullinan Associates Inc. now owns 22,679 shares of the energy producer’s stock valued at $2,887,000 after buying an additional 2,580 shares in the last quarter. Iams Wealth Management LLC increased its position in ConocoPhillips by 5.6% in the 1st quarter. Iams Wealth Management LLC now owns 16,025 shares of the energy producer’s stock valued at $2,040,000 after buying an additional 856 shares in the last quarter. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its position in ConocoPhillips by 2.1% in the 1st quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 18,768 shares of the energy producer’s stock valued at $2,389,000 after buying an additional 379 shares in the last quarter. 82.36% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. Morgan Stanley boosted their target price on ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Mizuho cut their price target on ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating for the company in a research note on Wednesday, June 5th. Royal Bank of Canada lifted their price target 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 lifted their price target on ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Finally, Raymond James reiterated a “strong-buy” rating and set a $159.00 price target (up previously from $155.00) on shares of ConocoPhillips in a research note on Thursday, May 30th. 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 company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $144.18.

ConocoPhillips Stock Performance

COP stock traded down $0.24 during midday trading on Tuesday, reaching $114.12. 3,835,336 shares of the company’s stock traded hands, compared to its average volume of 5,671,214. The company has a 50-day moving average price of $118.00 and a two-hundred day moving average price of $117.61. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.21 and a current ratio of 1.35. ConocoPhillips has a 52 week low of $99.35 and a 52 week high of $135.18. The firm has a market capitalization of $133.47 billion, a PE ratio of 12.91, a price-to-earnings-growth ratio of 2.04 and a beta of 1.24.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $14.72 billion. As a group, equities analysts anticipate that ConocoPhillips will post 8.89 EPS for the current year.

ConocoPhillips Announces Dividend

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