Money Concepts Capital Corp Acquires New Holdings in ConocoPhillips $COP

Key Points

• Money Concepts Capital Corp opened a new position in ConocoPhillips during the first quarter, buying 21,841 shares valued at about $2.88 million.
• ConocoPhillips reported better-than-expected quarterly earnings, posting $1.89 EPS versus the $1.72 estimate and revenue of $15.76 billion versus $15.62 billion expected.
• The company paid a quarterly dividend of $0.84 per share, equating to an annualized yield of about 3.1%; analysts currently rate the stock a Moderate Buy with a consensus target price of $134.04.

Money Concepts Capital Corp bought a new position in shares of ConocoPhillips (NYSE:COP - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 21,841 shares of the energy producer's stock, valued at approximately $2,883,000.

Several other institutional investors and hedge funds have also bought and sold shares of COP. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in shares of ConocoPhillips in the fourth quarter worth $25,000. Strive Asset Management LLC bought a new stake in ConocoPhillips during the third quarter valued at $28,000. Board of the Pension Protection Fund bought a new stake in ConocoPhillips during the fourth quarter valued at $28,000. KERR FINANCIAL PLANNING Corp purchased a new position in ConocoPhillips during the third quarter worth about $28,000. Finally, Sfam LLC purchased a new position in ConocoPhillips during the fourth quarter worth about $34,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Price Performance

NYSE COP traded up $1.04 during trading hours on Friday, reaching $109.06. 6,977,036 shares of the stock traded hands, compared to its average volume of 7,638,942. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14. The stock has a 50 day simple moving average of $114.15 and a two-hundred day simple moving average of $112.66. ConocoPhillips has a 1 year low of $85.57 and a 1 year high of $135.87. The company has a market cap of $132.86 billion, a price-to-earnings ratio of 18.52, a price-to-earnings-growth ratio of 1.29 and a beta of 0.12.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.72 by $0.17. The firm had revenue of $15.76 billion during the quarter, compared to analysts' expectations of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The company's revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.09 EPS. On average, analysts predict that ConocoPhillips will post 9.28 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were given a $0.84 dividend. The ex-dividend date was Monday, May 11th. This represents a $3.36 dividend on an annualized basis and a yield of 3.1%. ConocoPhillips's payout ratio is presently 57.05%.

Wall Street Analyst Weigh In

Several analysts have weighed in on COP shares. Scotiabank raised their price target on ConocoPhillips from $100.00 to $125.00 and gave the company a "sector perform" rating in a report on Wednesday, April 22nd. Truist Financial cut their price objective on ConocoPhillips from $128.00 to $115.00 and set a "hold" rating for the company in a report on Wednesday. Citigroup upped their price objective on shares of ConocoPhillips from $135.00 to $150.00 and gave the stock a "buy" rating in a research report on Thursday, April 2nd. Zacks Research cut shares of ConocoPhillips from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 27th. Finally, Raymond James Financial lowered their target price on shares of ConocoPhillips from $145.00 to $142.00 and set an "outperform" rating on the stock in a research note on Monday, June 1st. Eighteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, ConocoPhillips has a consensus rating of "Moderate Buy" and a consensus target price of $134.04.

About ConocoPhillips

ConocoPhillips NYSE: COP is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company's activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.

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