ConocoPhillips (NYSE:COP) Stock Position Increased by Vest Financial LLC

Vest Financial LLC lifted its position in ConocoPhillips (NYSE:COP - Free Report) by 45.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,418 shares of the energy producer's stock after buying an additional 5,158 shares during the period. Vest Financial LLC's holdings in ConocoPhillips were worth $1,724,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Tallon Kerry Patrick purchased a new stake in shares of ConocoPhillips during the fourth quarter valued at $511,000. Financial Advocates Investment Management increased its position in ConocoPhillips by 201.8% in the 4th quarter. Financial Advocates Investment Management now owns 11,573 shares of the energy producer's stock worth $1,148,000 after purchasing an additional 7,738 shares during the last quarter. Silver Oak Securities Incorporated increased its position in ConocoPhillips by 17.5% in the 4th quarter. Silver Oak Securities Incorporated now owns 2,085 shares of the energy producer's stock worth $202,000 after purchasing an additional 311 shares during the last quarter. GHP Investment Advisors Inc. increased its position in ConocoPhillips by 36.1% in the 4th quarter. GHP Investment Advisors Inc. now owns 1,256 shares of the energy producer's stock worth $125,000 after purchasing an additional 333 shares during the last quarter. Finally, Leo Wealth LLC increased its position in ConocoPhillips by 106.9% in the 4th quarter. Leo Wealth LLC now owns 10,096 shares of the energy producer's stock worth $1,001,000 after purchasing an additional 5,216 shares during the last quarter. Institutional investors own 82.36% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on COP. Royal Bank of Canada decreased their price target on ConocoPhillips from $120.00 to $115.00 and set an "outperform" rating for the company in a research note on Friday, May 30th. Piper Sandler decreased their price target on ConocoPhillips from $114.00 to $107.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. Scotiabank decreased their target price on ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating for the company in a research note on Friday, April 11th. Mizuho decreased their target price on ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Finally, Raymond James reiterated an "outperform" rating and issued a $109.00 price objective (up previously from $103.00) on shares of ConocoPhillips in a research report on Tuesday, May 20th. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $121.63.

ConocoPhillips Stock Up 2.1%

NYSE:COP opened at $87.18 on Friday. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $118.40. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $110.21 billion, a P/E ratio of 11.19, a P/E/G ratio of 0.79 and a beta of 0.61. The stock's fifty day simple moving average is $88.74 and its 200-day simple moving average is $96.42.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.04. The business had revenue of $16.18 billion for the quarter, compared to analysts' expectations of $15.74 billion. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. During the same quarter in the previous year, the business posted $2.05 EPS. Equities research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors 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 3.58%. The ex-dividend date was Monday, May 19th. ConocoPhillips's payout ratio is presently 39.64%.

About ConocoPhillips

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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