Westside Investment Management Inc. Has $192,000 Stake in ConocoPhillips (NYSE:COP)

Westside Investment Management Inc. boosted its holdings in ConocoPhillips (NYSE:COP) by 50.0% in the 1st quarter, Holdings Channel.com reports. The firm owned 1,500 shares of the energy producer’s stock after acquiring an additional 500 shares during the period. Westside Investment Management Inc.’s holdings in ConocoPhillips were worth $192,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of COP. AQR Capital Management LLC raised its stake in ConocoPhillips by 5.2% in the 3rd quarter. AQR Capital Management LLC now owns 397,320 shares of the energy producer’s stock worth $47,599,000 after purchasing an additional 19,756 shares in the last quarter. Alps Advisors Inc. raised its stake in ConocoPhillips by 33.9% in the 3rd quarter. Alps Advisors Inc. now owns 12,985 shares of the energy producer’s stock worth $1,556,000 after purchasing an additional 3,289 shares in the last quarter. Alerus Financial NA acquired a new stake in ConocoPhillips in the 3rd quarter worth about $216,000. Evergreen Capital Management LLC increased its holdings in ConocoPhillips by 0.5% in the 3rd quarter. Evergreen Capital Management LLC now owns 18,944 shares of the energy producer’s stock valued at $2,270,000 after buying an additional 89 shares during the period. Finally, Lido Advisors LLC increased its holdings in ConocoPhillips by 147.0% in the 3rd quarter. Lido Advisors LLC now owns 77,341 shares of the energy producer’s stock valued at $9,265,000 after buying an additional 46,023 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Trading Up 0.6 %

COP opened at $114.77 on Thursday. ConocoPhillips has a fifty-two week low of $99.35 and a fifty-two week high of $135.18. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.35 and a quick ratio of 1.21. The firm has a market capitalization of $134.23 billion, a price-to-earnings ratio of 13.00, a PEG ratio of 2.03 and a beta of 1.23. The company’s 50 day moving average price is $117.68 and its two-hundred day moving average price is $117.61.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.04. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. The firm had revenue of $14.48 billion for the quarter, compared to analyst estimates of $14.72 billion. As a group, research analysts predict that ConocoPhillips will post 8.89 earnings per share for the current 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 issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date was Friday, May 10th. ConocoPhillips’s payout ratio is 26.27%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on COP shares. Scotiabank raised their target price on shares of ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. Piper Sandler raised their target price on shares of ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Morgan Stanley raised their target price on shares of ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Raymond James reissued a “strong-buy” rating and issued a $159.00 target price (up from $155.00) on shares of ConocoPhillips in a report on Thursday, May 30th. Finally, Wells Fargo & Company raised their target price on shares of ConocoPhillips from $149.00 to $151.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Four 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. Based on data from MarketBeat.com, the stock presently has a consensus 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.