Sound Income Strategies LLC Grows Stake in ConocoPhillips (NYSE:COP)

Sound Income Strategies LLC raised its stake in shares of ConocoPhillips (NYSE:COP) by 35.1% during the first quarter, HoldingsChannel reports. The firm owned 1,063 shares of the energy producer’s stock after buying an additional 276 shares during the quarter. Sound Income Strategies LLC’s holdings in ConocoPhillips were worth $135,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Orion Capital Management LLC purchased a new position in ConocoPhillips during the 3rd quarter valued at $27,000. West Branch Capital LLC grew its holdings in shares of ConocoPhillips by 87.8% in the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock worth $27,000 after purchasing an additional 108 shares during the last quarter. Sachetta LLC purchased a new position in ConocoPhillips in the 4th quarter worth about $27,000. Cooksen Wealth LLC bought a new stake in ConocoPhillips during the 4th quarter valued at about $27,000. Finally, Cape Investment Advisory Inc. grew its stake in ConocoPhillips by 96.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock worth $29,000 after acquiring an additional 121 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on COP. Wells Fargo & Company boosted their price target on ConocoPhillips from $149.00 to $151.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Piper Sandler increased their price target on ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Scotiabank increased their target price on shares of ConocoPhillips from $120.00 to $135.00 and gave the stock a “sector perform” rating in a report on Thursday, April 11th. Barclays boosted their price target on shares of ConocoPhillips from $158.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Finally, StockNews.com raised shares of ConocoPhillips from a “hold” rating to a “buy” rating in a research note on Wednesday, June 12th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s 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 Stock Performance

COP stock traded down $1.41 during trading on Wednesday, reaching $113.58. The company had a trading volume of 5,366,109 shares, compared to its average volume of 5,703,051. 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 twelve month low of $99.35 and a twelve month high of $135.18. The company has a market cap of $132.84 billion, a price-to-earnings ratio of 12.86, a price-to-earnings-growth ratio of 2.05 and a beta of 1.22. The firm has a 50-day simple moving average of $119.17 and a 200-day simple moving average of $117.57.

ConocoPhillips (NYSE:COP) last posted 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 the consensus estimate of $14.72 billion. As a group, sell-side analysts expect that ConocoPhillips will post 8.89 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company 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 2.75%. The ex-dividend date of this dividend was Friday, May 10th. ConocoPhillips’s payout ratio is 26.27%.

ConocoPhillips 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.