Quadcap Wealth Management LLC Raises Stock Position in ConocoPhillips (NYSE:COP)

Quadcap Wealth Management LLC increased its stake in ConocoPhillips (NYSE:COP - Free Report) by 53.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,345 shares of the energy producer's stock after acquiring an additional 5,328 shares during the quarter. Quadcap Wealth Management LLC's holdings in ConocoPhillips were worth $1,522,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Albion Financial Group UT increased its holdings in ConocoPhillips by 876.9% in the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer's stock worth $25,000 after acquiring an additional 228 shares in the last quarter. Murphy & Mullick Capital Management Corp purchased a new stake in shares of ConocoPhillips during the fourth quarter worth $26,000. Centricity Wealth Management LLC purchased a new stake in shares of ConocoPhillips during the fourth quarter worth $27,000. Crowley Wealth Management Inc. purchased a new stake in shares of ConocoPhillips during the fourth quarter worth $32,000. Finally, Marshall Investment Management LLC purchased a new stake in shares of ConocoPhillips during the fourth quarter worth $36,000. Hedge funds and other institutional investors own 82.36% of the company's stock.

ConocoPhillips Stock Down 1.5%

Shares of NYSE:COP opened at $92.72 on Thursday. The firm's 50 day moving average price is $93.29 and its 200 day moving average price is $99.20. The stock has a market cap of $117.21 billion, a price-to-earnings ratio of 11.90, a price-to-earnings-growth ratio of 0.79 and a beta of 0.64. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $122.11. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its earnings results 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 firm had revenue of $16.18 billion for the quarter, compared to analysts' expectations of $15.74 billion. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. During the same quarter last year, the company earned $2.05 earnings per share. As a group, equities research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be issued a dividend of $0.78 per share. The ex-dividend date is Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a yield of 3.36%. ConocoPhillips's payout ratio is currently 39.64%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on COP. Susquehanna dropped their target price on shares of ConocoPhillips from $120.00 to $114.00 and set a "positive" rating for the company in a report on Monday. Wells Fargo & Company dropped their price objective on shares of ConocoPhillips from $116.00 to $113.00 and set an "overweight" rating for the company in a report on Wednesday. The Goldman Sachs Group set a $132.00 price objective on shares of ConocoPhillips in a report on Thursday, January 30th. UBS Group dropped their price objective on shares of ConocoPhillips from $116.00 to $111.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Finally, Piper Sandler dropped their price objective on shares of ConocoPhillips from $114.00 to $107.00 and set an "overweight" rating for the company in a report on Tuesday. Three research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $122.74.

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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