Meeder Advisory Services Inc. Raises Position in ConocoPhillips (NYSE:COP)

Meeder Advisory Services Inc. increased its holdings in ConocoPhillips (NYSE:COP) by 1.9% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,264 shares of the energy producer’s stock after buying an additional 357 shares during the period. Meeder Advisory Services Inc.’s holdings in ConocoPhillips were worth $2,452,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in COP. Valued Wealth Advisors LLC lifted its position in shares of ConocoPhillips by 45.8% in the 1st quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock worth $33,000 after purchasing an additional 82 shares during the period. Astoria Portfolio Advisors LLC. lifted its position in shares of ConocoPhillips by 4.0% in the 1st 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. Manchester Capital Management LLC lifted its position in shares of ConocoPhillips by 22.1% in the 1st quarter. Manchester Capital Management LLC now owns 475 shares of the energy producer’s stock worth $60,000 after purchasing an additional 86 shares during the period. Adirondack Trust Co. lifted its position in shares of ConocoPhillips by 3.1% in the 4th quarter. Adirondack Trust Co. now owns 2,990 shares of the energy producer’s stock worth $336,000 after purchasing an additional 90 shares during the period. Finally, Mayfair Advisory Group LLC lifted its position in shares of ConocoPhillips by 3.5% in the 1st quarter. Mayfair Advisory Group LLC now owns 2,627 shares of the energy producer’s stock worth $334,000 after purchasing an additional 90 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

NYSE COP traded up $1.43 during mid-day trading on Monday, hitting $114.57. The stock had a trading volume of 5,073,698 shares, compared to its average volume of 5,582,685. The firm’s 50 day moving average is $115.32 and its 200 day moving average is $117.37. ConocoPhillips has a twelve month low of $105.77 and a twelve month 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 stock has a market capitalization of $133.99 billion, a price-to-earnings ratio of 12.98, a PEG ratio of 2.02 and a beta of 1.24.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, May 2nd. The energy producer reported $2.03 EPS for the quarter, beating the consensus estimate of $1.99 by $0.04. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. The firm had revenue of $14.48 billion during the quarter, compared to the consensus estimate of $14.72 billion. Equities research analysts forecast that ConocoPhillips will post 8.9 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on COP. Wells Fargo & Company upped their price target on shares of ConocoPhillips from $149.00 to $151.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Raymond James reissued a “strong-buy” rating and set a $159.00 target price (up previously from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Susquehanna increased their target price on shares of ConocoPhillips from $133.00 to $154.00 and gave the company a “positive” rating in a research report on Monday, April 22nd. Scotiabank decreased their target price on shares of ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating for the company in a research report on Friday. Finally, Piper Sandler increased their target price on shares of ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $145.07.

ConocoPhillips 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.