ConocoPhillips (NYSE:COP) Shares Sold by Reliant Investment Management LLC

Reliant Investment Management LLC reduced its holdings in shares of ConocoPhillips (NYSE:COP) by 3.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,984 shares of the energy producer’s stock after selling 2,100 shares during the quarter. ConocoPhillips accounts for 3.3% of Reliant Investment Management LLC’s portfolio, making the stock its 9th largest position. Reliant Investment Management LLC’s holdings in ConocoPhillips were worth $6,998,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Astoria Portfolio Advisors LLC. raised its position in ConocoPhillips by 4.0% in the first quarter. Astoria Portfolio Advisors LLC. now owns 2,232 shares of the energy producer’s stock valued at $291,000 after purchasing an additional 85 shares during the period. Evergreen Capital Management LLC lifted its position in ConocoPhillips by 0.5% during the 3rd quarter. Evergreen Capital Management LLC now owns 18,944 shares of the energy producer’s stock worth $2,270,000 after acquiring an additional 89 shares in the last quarter. Adirondack Trust Co. boosted its holdings in ConocoPhillips by 3.1% in the 4th quarter. Adirondack Trust Co. now owns 2,990 shares of the energy producer’s stock worth $336,000 after acquiring an additional 90 shares during the period. West Paces Advisors Inc. grew its position in ConocoPhillips by 5.9% in the first quarter. West Paces Advisors Inc. now owns 1,659 shares of the energy producer’s stock valued at $211,000 after acquiring an additional 93 shares in the last quarter. Finally, Greenfield Savings Bank raised its stake in shares of ConocoPhillips by 1.3% during the fourth quarter. Greenfield Savings Bank now owns 7,520 shares of the energy producer’s stock valued at $873,000 after purchasing an additional 94 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of NYSE:COP traded up $0.41 during trading on Friday, reaching $114.38. 7,191,846 shares of the company’s stock traded hands, compared to its average volume of 7,011,207. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.35 and a quick ratio of 1.21. The company has a 50 day moving average of $118.30 and a 200-day moving average of $117.53. ConocoPhillips has a 12 month low of $99.35 and a 12 month high of $135.18. The stock has a market capitalization of $133.77 billion, a P/E ratio of 12.95, a price-to-earnings-growth ratio of 2.03 and a beta of 1.22.

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

ConocoPhillips Dividend Announcement

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 dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend was Friday, May 10th. ConocoPhillips’s dividend payout ratio (DPR) is 26.27%.

Analyst Ratings Changes

COP has been the subject of several analyst reports. Truist Financial upped their target price on shares of ConocoPhillips from $160.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, June 3rd. Piper Sandler lifted their target price on ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Argus raised ConocoPhillips to a “strong-buy” rating in a report on Friday, June 7th. Scotiabank raised their price objective on ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a research note on Thursday, April 11th. Finally, Mizuho cut their target price on ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 5th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.18.

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.