Aries Wealth Management Has $406,000 Stock Holdings in ConocoPhillips (NYSE:COP)

Aries Wealth Management lessened its position in ConocoPhillips (NYSE:COP) by 2.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,862 shares of the energy producer’s stock after selling 116 shares during the period. Aries Wealth Management’s holdings in ConocoPhillips were worth $406,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Ritholtz Wealth Management lifted its position in ConocoPhillips by 7.8% during the 1st quarter. Ritholtz Wealth Management now owns 31,658 shares of the energy producer’s stock worth $3,325,000 after buying an additional 2,300 shares in the last quarter. Everpar Advisors LLC lifted its position in ConocoPhillips by 54.0% during the 1st quarter. Everpar Advisors LLC now owns 4,362 shares of the energy producer’s stock worth $458,000 after buying an additional 1,530 shares in the last quarter. Opal Wealth Advisors LLC lifted its position in ConocoPhillips by 17.5% during the 1st quarter. Opal Wealth Advisors LLC now owns 2,754 shares of the energy producer’s stock worth $289,000 after buying an additional 411 shares in the last quarter. Hennessy Advisors Inc. lifted its position in ConocoPhillips by 151.1% during the 1st quarter. Hennessy Advisors Inc. now owns 91,224 shares of the energy producer’s stock worth $9,580,000 after buying an additional 54,900 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in ConocoPhillips by 14.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 269,154 shares of the energy producer’s stock worth $28,267,000 after buying an additional 34,284 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of COP stock opened at $97.00 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The stock has a market cap of $122.63 billion, a PE ratio of 12.45, a price-to-earnings-growth ratio of 0.79 and a beta of 0.61. The stock has a 50-day moving average of $88.91 and a 200-day moving average of $95.87. ConocoPhillips has a one year low of $79.88 and a one year high of $118.40.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.04. The company had revenue of $16.18 billion during the quarter, compared to analysts’ expectations of $15.74 billion. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. During the same period in the prior year, the business posted $2.05 EPS. As a group, sell-side analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were paid a $0.78 dividend. The ex-dividend date was Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.22%. ConocoPhillips’s dividend payout ratio (DPR) is presently 39.64%.

Analysts Set New Price Targets

Several brokerages recently issued reports on COP. Mizuho reduced their price target on shares of ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Barclays reduced their price target on shares of ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Bank of America reduced their price target on shares of ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating on the stock in a research report on Friday, May 23rd. Morgan Stanley boosted their price objective on ConocoPhillips from $116.00 to $118.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. Finally, Raymond James restated an “outperform” rating and set a $109.00 target price (up from $103.00) on shares of ConocoPhillips in a research report on Tuesday, May 20th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $121.30.

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.