Simplicity Wealth LLC Purchases New Shares in ConocoPhillips (NYSE:COP)

Simplicity Wealth LLC bought a new stake in ConocoPhillips (NYSE:COP - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 10,168 shares of the energy producer's stock, valued at approximately $1,068,000.

Several other hedge funds also recently modified their holdings of COP. Vanguard Group Inc. grew its holdings in ConocoPhillips by 11.7% during the fourth quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer's stock valued at $12,081,491,000 after purchasing an additional 12,751,120 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in ConocoPhillips by 13.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer's stock valued at $4,546,706,000 after purchasing an additional 5,549,078 shares during the period. Capital International Investors grew its holdings in ConocoPhillips by 4.9% during the fourth quarter. Capital International Investors now owns 31,287,113 shares of the energy producer's stock valued at $3,101,989,000 after purchasing an additional 1,473,027 shares during the period. Geode Capital Management LLC grew its holdings in ConocoPhillips by 13.7% during the fourth quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer's stock valued at $2,792,521,000 after purchasing an additional 3,397,360 shares during the period. Finally, Invesco Ltd. grew its holdings in ConocoPhillips by 37.1% during the fourth quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer's stock valued at $1,544,101,000 after purchasing an additional 4,211,939 shares during the period. Institutional investors own 82.36% of the company's stock.

ConocoPhillips Stock Performance

Shares of NYSE:COP traded up $2.31 on Friday, hitting $97.00. The company had a trading volume of 16,786,406 shares, compared to its average volume of 7,485,831. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $118.40. The stock has a market cap of $122.63 billion, a price-to-earnings ratio of 12.45, a P/E/G ratio of 0.79 and a beta of 0.61. The stock has a 50 day moving average price of $88.91 and a 200 day moving average price of $95.87. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36.

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

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were issued a $0.78 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $3.12 annualized dividend and a dividend yield of 3.22%. ConocoPhillips's dividend payout ratio is currently 39.64%.

Wall Street Analysts Forecast Growth

COP has been the subject of a number of analyst reports. Raymond James restated an "outperform" rating and set a $109.00 price objective (up previously from $103.00) on shares of ConocoPhillips in a report on Tuesday, May 20th. Piper Sandler cut their price target on shares of ConocoPhillips from $114.00 to $107.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. Bank of America cut their price target on shares of ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. JPMorgan Chase & Co. cut their price target on shares of ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Finally, Morgan Stanley lifted their price target on shares of ConocoPhillips from $116.00 to $118.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $121.30.

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.