Prestige Wealth Management Group LLC Has $696,000 Stake in ConocoPhillips $COP

Prestige Wealth Management Group LLC lifted its position in ConocoPhillips (NYSE:COP) by 514.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,272 shares of the energy producer’s stock after buying an additional 4,414 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in ConocoPhillips were worth $696,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Frazier Financial Advisors LLC lifted its stake in shares of ConocoPhillips by 151.0% in the 1st quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock valued at $32,000 after purchasing an additional 145 shares during the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in ConocoPhillips in the fourth quarter worth $25,000. Evergreen Advisors LLC acquired a new position in ConocoPhillips during the first quarter worth $36,000. Strive Asset Management LLC acquired a new position in ConocoPhillips during the third quarter worth $28,000. Finally, Avalon Trust Co bought a new position in ConocoPhillips during the first quarter valued at about $40,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on COP. Wolfe Research boosted their price target on ConocoPhillips from $138.00 to $144.00 and gave the stock an “outperform” rating in a research report on Monday, April 6th. Capital One Financial lowered their price objective on ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating on the stock in a report on Monday, May 18th. Roth Capital raised ConocoPhillips from a “neutral” rating to a “buy” rating and raised their price objective for the company from $124.00 to $130.00 in a research note on Monday, June 22nd. Argus boosted their target price on ConocoPhillips from $128.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Finally, Raymond James Financial decreased their target price on ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating for the company in a research report on Monday, June 1st. Eighteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $134.16.

ConocoPhillips Trading Up 1.2%

ConocoPhillips stock opened at $118.86 on Thursday. ConocoPhillips has a 52 week low of $85.57 and a 52 week high of $135.87. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. The firm has a market capitalization of $144.81 billion, a PE ratio of 20.18, a PEG ratio of 1.42 and a beta of 0.12. The business’s 50-day simple moving average is $113.51 and its 200-day simple moving average is $114.02.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.17. The firm had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The firm’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.09 EPS. Equities research analysts forecast that ConocoPhillips will post 9.2 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were given a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Monday, May 11th. ConocoPhillips’s dividend payout ratio is currently 57.05%.

About ConocoPhillips

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.