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

Prestige Wealth Management Group LLC boosted its position in shares of ConocoPhillips (NYSE:COP) by 514.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,272 shares of the energy producer’s stock after acquiring an additional 4,414 shares during the period. Prestige Wealth Management Group LLC’s holdings in ConocoPhillips were worth $696,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

COP has been the topic of a number of recent research reports. BMO Capital Markets decreased their price target on shares of ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. Mizuho dropped their price objective on shares of ConocoPhillips from $150.00 to $146.00 and set an “outperform” rating for the company in a research note on Tuesday, July 7th. Truist Financial reduced their price objective on shares of ConocoPhillips from $128.00 to $115.00 and set a “hold” rating for the company in a report on Wednesday, July 8th. Freedom Capital lowered shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Finally, Roth Capital raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and upped their target price for the company from $124.00 to $130.00 in a research note on Monday, June 22nd. Eighteen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $134.16.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $118.86 on Thursday. The firm has a market capitalization of $144.81 billion, a P/E ratio of 20.18, a P/E/G ratio of 1.42 and a beta of 0.12. The stock has a fifty day moving average price of $113.51 and a two-hundred day moving average price of $114.02. 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 current ratio of 1.29 and a quick ratio of 1.14.

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

ConocoPhillips Dividend Announcement

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

ConocoPhillips Profile

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.