Yoder Wealth Management Inc. Makes New $204,000 Investment in ConocoPhillips (NYSE:COP)

Yoder Wealth Management Inc. acquired a new position in shares of ConocoPhillips (NYSE:COP) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,600 shares of the energy producer’s stock, valued at approximately $204,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Astoria Portfolio Advisors LLC. lifted its holdings in shares of ConocoPhillips by 4.0% during the first quarter. Astoria Portfolio Advisors LLC. now owns 2,232 shares of the energy producer’s stock worth $291,000 after purchasing an additional 85 shares during the period. Evergreen Capital Management LLC lifted its holdings in ConocoPhillips by 0.5% in the third quarter. Evergreen Capital Management LLC now owns 18,944 shares of the energy producer’s stock valued at $2,270,000 after acquiring an additional 89 shares during the period. Adirondack Trust Co. lifted its holdings in ConocoPhillips by 3.1% in the fourth quarter. Adirondack Trust Co. now owns 2,990 shares of the energy producer’s stock valued at $336,000 after acquiring an additional 90 shares during the period. Mayfair Advisory Group LLC lifted its holdings in ConocoPhillips by 3.5% in the first quarter. Mayfair Advisory Group LLC now owns 2,627 shares of the energy producer’s stock valued at $334,000 after acquiring an additional 90 shares during the period. Finally, West Paces Advisors Inc. lifted its holdings in ConocoPhillips by 5.9% in the first quarter. West Paces Advisors Inc. now owns 1,659 shares of the energy producer’s stock valued at $211,000 after acquiring an additional 93 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Up 0.6 %

Shares of COP traded up $0.65 during trading on Wednesday, reaching $114.77. The company’s stock had a trading volume of 2,326,248 shares, compared to its average volume of 5,644,886. The company has a fifty day moving average of $117.68 and a two-hundred day moving average of $117.61. ConocoPhillips has a twelve month low of $99.35 and a twelve month high of $135.18. The company has a market cap of $134.23 billion, a price-to-earnings ratio of 13.07, a P/E/G ratio of 2.04 and a beta of 1.24. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.04. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. The company had revenue of $14.48 billion for the quarter, compared to analyst estimates of $14.72 billion. On average, sell-side analysts predict that ConocoPhillips will post 8.89 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date was Friday, May 10th. ConocoPhillips’s payout ratio is 26.27%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Mizuho reduced their target price on ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating for the company in a report on Wednesday, June 5th. Raymond James reissued a “strong-buy” rating and issued a $159.00 target price (up previously from $155.00) on shares of ConocoPhillips in a report on Thursday, May 30th. Morgan Stanley raised their target price on ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Piper Sandler raised their target price on ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Finally, Wells Fargo & Company raised their price target on ConocoPhillips from $149.00 to $151.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $144.18.

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.