Beacon Financial Group Has $1.18 Million Position in ConocoPhillips (NYSE:COP)

Beacon Financial Group reduced its holdings in ConocoPhillips (NYSE:COP - Free Report) by 44.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,187 shares of the energy producer's stock after selling 9,003 shares during the period. Beacon Financial Group's holdings in ConocoPhillips were worth $1,175,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its stake in shares of ConocoPhillips by 13.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer's stock worth $4,546,706,000 after purchasing an additional 5,549,078 shares during the last quarter. Leavell Investment Management Inc. increased its stake in shares of ConocoPhillips by 59.8% during the 4th quarter. Leavell Investment Management Inc. now owns 19,166 shares of the energy producer's stock worth $1,901,000 after purchasing an additional 7,174 shares during the last quarter. Asset Management One Co. Ltd. increased its stake in shares of ConocoPhillips by 11.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 519,371 shares of the energy producer's stock worth $50,345,000 after purchasing an additional 54,196 shares during the last quarter. New York State Teachers Retirement System increased its stake in shares of ConocoPhillips by 7.4% during the 4th quarter. New York State Teachers Retirement System now owns 1,170,901 shares of the energy producer's stock worth $116,118,000 after purchasing an additional 80,199 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund boosted its holdings in shares of ConocoPhillips by 26.2% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 43,384 shares of the energy producer's stock worth $4,302,000 after buying an additional 9,002 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $85.28 on Friday. The company has a 50 day moving average of $89.11 and a 200-day moving average of $96.72. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $118.40. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The company has a market cap of $107.80 billion, a PE ratio of 10.95, a price-to-earnings-growth ratio of 0.79 and a beta of 0.61.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, topping analysts' consensus estimates of $2.05 by $0.04. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. The company had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. During the same quarter in the prior year, the firm posted $2.05 EPS. As a group, equities research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips's dividend payout ratio (DPR) is presently 39.64%.

Analyst Ratings Changes

Several brokerages recently commented on COP. Piper Sandler reduced their target price on shares of ConocoPhillips from $114.00 to $107.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Morgan Stanley lifted their target price on shares of ConocoPhillips from $116.00 to $118.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Barclays reduced their target price on shares of ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Scotiabank reduced their target price on shares of ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating for the company in a report on Friday, April 11th. Finally, Raymond James reaffirmed an "outperform" rating and set a $109.00 target price (up previously from $103.00) on shares of ConocoPhillips in a report on Tuesday, May 20th. Three analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, ConocoPhillips presently has a consensus rating of "Moderate Buy" and an average target price of $121.63.

ConocoPhillips Company 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.

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