Bahl & Gaynor Inc. Buys 434 Shares of ConocoPhillips (NYSE:COP)

Bahl & Gaynor Inc. boosted its holdings in ConocoPhillips (NYSE:COP) by 12.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,043 shares of the energy producer’s stock after purchasing an additional 434 shares during the period. Bahl & Gaynor Inc.’s holdings in ConocoPhillips were worth $515,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Trustmark National Bank Trust Department raised its stake in shares of ConocoPhillips by 14.6% in the first quarter. Trustmark National Bank Trust Department now owns 17,222 shares of the energy producer’s stock valued at $2,192,000 after buying an additional 2,200 shares during the period. Davis R M Inc. increased its position in shares of ConocoPhillips by 4.7% during the first quarter. Davis R M Inc. now owns 388,700 shares of the energy producer’s stock valued at $49,474,000 after buying an additional 17,443 shares during the period. Resurgent Financial Advisors LLC increased its holdings in ConocoPhillips by 3.4% during the 1st quarter. Resurgent Financial Advisors LLC now owns 18,755 shares of the energy producer’s stock worth $2,387,000 after acquiring an additional 614 shares during the period. Peak Asset Management LLC grew its position in shares of ConocoPhillips by 3.9% during the 1st quarter. Peak Asset Management LLC now owns 63,573 shares of the energy producer’s stock valued at $8,092,000 after purchasing an additional 2,379 shares in the last quarter. Finally, Catalytic Wealth RIA LLC increased its holdings in shares of ConocoPhillips by 7.4% in the first quarter. Catalytic Wealth RIA LLC now owns 8,703 shares of the energy producer’s stock worth $1,108,000 after purchasing an additional 601 shares during the period. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Trading Up 0.3 %

NYSE:COP traded up $0.37 during trading hours on Wednesday, hitting $111.20. The company had a trading volume of 1,992,045 shares, compared to its average volume of 5,571,589. 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 50-day moving average price of $114.34 and a 200 day moving average price of $117.25. The company has a market capitalization of $130.05 billion, a PE ratio of 12.59, a price-to-earnings-growth ratio of 2.02 and a beta of 1.23. ConocoPhillips has a 52 week low of $105.77 and a 52 week high of $135.18.

ConocoPhillips (NYSE:COP) last announced 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. 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. On average, equities research analysts predict that ConocoPhillips will post 8.81 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.81%. The ex-dividend date was Friday, May 10th. ConocoPhillips’s dividend payout ratio is currently 26.27%.

Wall Street Analyst Weigh In

Several research firms have weighed in on COP. Wolfe Research assumed coverage on ConocoPhillips in a report on Thursday, July 18th. They issued an “outperform” rating and a $145.00 price target on the stock. Bank of America reissued a “buy” rating and issued a $147.00 price target on shares of ConocoPhillips in a research note on Friday, June 14th. Scotiabank dropped their price target on ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. Argus raised ConocoPhillips to a “strong-buy” rating in a report on Friday, June 7th. Finally, Piper Sandler upped their target price on ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and a consensus price target of $143.24.

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.