Williams Jones Wealth Management LLC. Sells 271 Shares of ConocoPhillips (NYSE:COP)

Williams Jones Wealth Management LLC. decreased its position in ConocoPhillips (NYSE:COP) by 1.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,435 shares of the energy producer’s stock after selling 271 shares during the quarter. Williams Jones Wealth Management LLC.’s holdings in ConocoPhillips were worth $2,728,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in COP. West Branch Capital LLC lifted its stake in ConocoPhillips by 87.8% during the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock worth $27,000 after purchasing an additional 108 shares during the last quarter. Sachetta LLC acquired a new stake in ConocoPhillips during the 4th quarter worth about $27,000. Cooksen Wealth LLC acquired a new stake in ConocoPhillips during the 4th quarter worth about $27,000. Cape Investment Advisory Inc. grew its holdings in ConocoPhillips by 96.0% during the 4th quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock worth $29,000 after acquiring an additional 121 shares during the period. Finally, Richardson Capital Management LLC acquired a new stake in shares of ConocoPhillips in the 1st quarter valued at about $31,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on COP shares. Barclays raised their price target on shares of ConocoPhillips from $158.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Truist Financial lifted their price target on shares of ConocoPhillips from $160.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, June 3rd. Raymond James reaffirmed a “strong-buy” rating and issued a $159.00 price target (up previously from $155.00) on shares of ConocoPhillips in a report on Thursday, May 30th. Morgan Stanley lifted their price objective on shares of ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Finally, Bank of America restated a “buy” rating and set a $147.00 price target on shares of ConocoPhillips in a research report on Friday, June 14th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.07.

ConocoPhillips Stock Performance

COP stock traded up $0.35 on Tuesday, hitting $114.92. The company had a trading volume of 2,051,882 shares, compared to its average volume of 5,556,185. ConocoPhillips has a 12-month low of $105.77 and a 12-month high of $135.18. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.35. The stock’s 50-day simple moving average is $115.32 and its 200 day simple moving average is $117.37. The stock has a market cap of $134.40 billion, a price-to-earnings ratio of 13.06, a P/E/G ratio of 2.02 and a beta of 1.24.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.04. The company had revenue of $14.48 billion for the quarter, compared to analysts’ expectations of $14.72 billion. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. As a group, equities research analysts expect that ConocoPhillips will post 8.9 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were given a $0.78 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $3.12 annualized dividend and a dividend yield of 2.71%. ConocoPhillips’s payout ratio is presently 26.27%.

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.