ConocoPhillips (NYSE:COP) Shares Purchased by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. boosted its stake in ConocoPhillips (NYSE:COP) by 5.7% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 40,693 shares of the energy producer’s stock after acquiring an additional 2,201 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in ConocoPhillips were worth $4,899,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. raised its holdings in shares of ConocoPhillips by 8.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 36,114 shares of the energy producer’s stock worth $4,192,000 after acquiring an additional 2,959 shares during the period. Global Retirement Partners LLC increased its position in shares of ConocoPhillips by 3.1% during the 4th quarter. Global Retirement Partners LLC now owns 5,827 shares of the energy producer’s stock worth $633,000 after purchasing an additional 173 shares during the last quarter. Claro Advisors LLC increased its position in shares of ConocoPhillips by 21.6% during the 4th quarter. Claro Advisors LLC now owns 2,491 shares of the energy producer’s stock worth $289,000 after purchasing an additional 443 shares during the last quarter. Spirit of America Management Corp NY increased its position in shares of ConocoPhillips by 200.0% during the 4th quarter. Spirit of America Management Corp NY now owns 15,900 shares of the energy producer’s stock worth $1,846,000 after purchasing an additional 10,600 shares during the last quarter. Finally, PFW Advisors LLC increased its position in shares of ConocoPhillips by 5.5% during the 4th quarter. PFW Advisors LLC now owns 2,326 shares of the energy producer’s stock worth $270,000 after purchasing an additional 121 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on COP shares. Wells Fargo & Company raised their price objective on ConocoPhillips from $149.00 to $151.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Truist Financial cut their price objective on ConocoPhillips from $165.00 to $147.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Argus raised ConocoPhillips to a “strong-buy” rating in a research report on Friday, June 7th. Mizuho cut their price objective on ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating for the company in a research report on Wednesday, June 5th. Finally, Raymond James reaffirmed a “strong-buy” rating and issued a $159.00 target price (up from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $143.24.

ConocoPhillips Stock Performance

NYSE COP traded up $1.29 on Wednesday, reaching $111.20. The stock had a trading volume of 7,514,548 shares, compared to its average volume of 5,623,558. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.21 and a current ratio of 1.35. ConocoPhillips has a 12-month low of $105.77 and a 12-month high of $135.18. The business’s 50-day moving average price is $113.31 and its 200 day moving average price is $117.18. The stock has a market cap of $130.05 billion, a P/E ratio of 12.45, a price-to-earnings-growth ratio of 2.15 and a beta of 1.23.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data 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 return on equity of 20.85% and a net margin of 18.40%. The company had revenue of $14.48 billion during the quarter, compared to analysts’ expectations of $14.72 billion. As a group, equities analysts expect that ConocoPhillips will post 8.73 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were paid a dividend of $0.78 per share. 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 (DPR) is presently 26.27%.

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.