Mid Atlantic Financial Management Inc. ADV boosted its stake in shares of ConocoPhillips (NYSE:COP) by 2.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,039 shares of the energy producer’s stock after buying an additional 327 shares during the period. Mid Atlantic Financial Management Inc. ADV’s holdings in ConocoPhillips were worth $803,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Lenox Wealth Advisors LLC acquired a new position in shares of ConocoPhillips in the 1st quarter valued at about $27,000. Smart Portfolios LLC increased its holdings in shares of ConocoPhillips by 69.5% in the 4th quarter. Smart Portfolios LLC now owns 478 shares of the energy producer’s stock valued at $30,000 after purchasing an additional 196 shares during the period. Athena Capital Advisors LLC acquired a new position in shares of ConocoPhillips in the 4th quarter valued at about $32,000. Clarfeld Financial Advisors LLC acquired a new position in shares of ConocoPhillips in the 4th quarter valued at about $32,000. Finally, Destination Wealth Management increased its holdings in shares of ConocoPhillips by 592.6% in the 1st quarter. Destination Wealth Management now owns 561 shares of the energy producer’s stock valued at $37,000 after purchasing an additional 480 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.
Shares of COP stock opened at $59.88 on Monday. ConocoPhillips has a 12 month low of $56.75 and a 12 month high of $80.24. The company has a market cap of $67.67 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 1.41 and a beta of 1.06. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.86 and a quick ratio of 1.72.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 13th will be issued a dividend of $0.305 per share. The ex-dividend date of this dividend is Friday, May 10th. This represents a $1.22 dividend on an annualized basis and a dividend yield of 2.04%. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.93%.
COP has been the subject of several recent research reports. Morgan Stanley boosted their price target on ConocoPhillips from $77.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. Goldman Sachs Group raised ConocoPhillips from a “neutral” rating to a “buy” rating and boosted their price target for the company from $76.00 to $82.00 in a research note on Sunday, February 3rd. Piper Jaffray Companies raised ConocoPhillips from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $68.00 to $75.00 in a research note on Thursday, March 21st. Zacks Investment Research raised ConocoPhillips from a “strong sell” rating to a “hold” rating in a research note on Monday, February 11th. Finally, ValuEngine raised ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Wednesday, May 22nd. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $78.60.
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ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.
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