Proficio Capital Partners LLC Has $1.70 Million Holdings in ConocoPhillips (NYSE:COP)

Proficio Capital Partners LLC lessened its holdings in shares of ConocoPhillips (NYSE:COP) by 1.0% during the first quarter, HoldingsChannel.com reports. The firm owned 13,343 shares of the energy producer’s stock after selling 141 shares during the quarter. Proficio Capital Partners LLC’s holdings in ConocoPhillips were worth $1,698,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in COP. 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 acquiring an additional 108,956 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of ConocoPhillips by 24.9% during the 4th 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. Bank of New York Mellon Corp boosted its position in ConocoPhillips by 5.8% in the first quarter. Bank of New York Mellon Corp now owns 14,986,970 shares of the energy producer’s stock valued at $1,907,542,000 after buying an additional 826,529 shares in the last quarter. Dimensional Fund Advisors LP boosted its position 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 valued at $1,394,162,000 after buying an additional 270,859 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its position in ConocoPhillips by 2.8% in 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 buying an additional 204,714 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Trading Down 0.9 %

NYSE COP traded down $1.01 during mid-day trading on Tuesday, reaching $111.22. 3,460,437 shares of the stock were exchanged, compared to its average volume of 5,605,759. ConocoPhillips has a one year low of $102.75 and a one year high of $135.18. The stock has a 50 day simple moving average of $116.08 and a 200-day simple moving average of $117.49. The stock has a market cap of $130.08 billion, a P/E ratio of 12.60, a P/E/G ratio of 2.01 and a beta of 1.23. 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 (NYSE:COP) last posted its quarterly earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share for the quarter, beating 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 firm had revenue of $14.48 billion during the quarter, compared to the consensus estimate of $14.72 billion. On average, analysts anticipate that ConocoPhillips will post 8.89 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.81%. The ex-dividend date was Friday, May 10th. ConocoPhillips’s dividend payout ratio (DPR) is currently 26.27%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Piper Sandler raised their target price on shares of ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Mizuho cut their target price on shares of ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 5th. 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 note on Monday, June 3rd. Morgan Stanley raised their price target on shares of ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Finally, Raymond James reaffirmed 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. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $145.69.

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.