Waverly Advisors LLC Has $8.54 Million Stock Holdings in ConocoPhillips $COP

Waverly Advisors LLC increased its stake in shares of ConocoPhillips (NYSE:COP) by 16.9% in the first quarter, Holdings Channel reports. The firm owned 64,690 shares of the energy producer’s stock after buying an additional 9,368 shares during the quarter. Waverly Advisors LLC’s holdings in ConocoPhillips were worth $8,539,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. London Co. of Virginia bought a new stake in shares of ConocoPhillips during the first quarter worth $214,000. Wealth Alliance LLC boosted its holdings in ConocoPhillips by 27.1% during the first quarter. Wealth Alliance LLC now owns 5,386 shares of the energy producer’s stock worth $711,000 after purchasing an additional 1,150 shares during the last quarter. Bridgewater Advisors Inc. grew its position in ConocoPhillips by 5.4% in the first quarter. Bridgewater Advisors Inc. now owns 3,241 shares of the energy producer’s stock valued at $428,000 after purchasing an additional 166 shares in the last quarter. Cannell & Spears LLC lifted its position in ConocoPhillips by 105.0% during the 1st quarter. Cannell & Spears LLC now owns 29,535 shares of the energy producer’s stock worth $3,917,000 after buying an additional 15,128 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of ConocoPhillips by 3,775.8% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,893,340 shares of the energy producer’s stock worth $249,921,000 after buying an additional 1,844,490 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Down 3.9%

Shares of NYSE COP opened at $115.54 on Tuesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. ConocoPhillips has a 52 week low of $85.57 and a 52 week high of $135.87. The stock has a market capitalization of $140.76 billion, a P/E ratio of 19.62, a PEG ratio of 1.45 and a beta of 0.12. The stock’s fifty day moving average is $113.32 and its 200 day moving average is $114.46.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.17. The business had revenue of $15.76 billion during the quarter, compared to analysts’ expectations of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. ConocoPhillips’s revenue was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.09 earnings per share. Sell-side analysts forecast that ConocoPhillips will post 9.2 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently announced 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. The ex-dividend date was Monday, May 11th. This represents a $3.36 annualized dividend and a yield of 2.9%. ConocoPhillips’s dividend payout ratio is presently 57.05%.

Wall Street Analysts Forecast Growth

COP has been the topic of several analyst reports. Citigroup upped their target price on ConocoPhillips from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. Barclays upped their price objective on ConocoPhillips from $136.00 to $155.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Scotiabank upped their price target on shares of ConocoPhillips from $100.00 to $125.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. The Goldman Sachs Group decreased their price objective on shares of ConocoPhillips from $144.00 to $138.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Finally, Piper Sandler upped their target price on shares of ConocoPhillips from $154.00 to $157.00 and gave the company an “overweight” rating in a report on Wednesday, April 8th. Eighteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $134.16.

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.