Richardson Capital Management LLC Takes $31,000 Position in ConocoPhillips (NYSE:COP)

Richardson Capital Management LLC purchased a new position in ConocoPhillips (NYSE:COP) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 245 shares of the energy producer’s stock, valued at approximately $31,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cardinal Capital Management Inc. bought a new position in shares of ConocoPhillips in the fourth quarter valued at approximately $13,468,000. Columbia Trust Co 01012016 raised its holdings in shares of ConocoPhillips by 1.2% in the fourth quarter. Columbia Trust Co 01012016 now owns 9,463 shares of the energy producer’s stock valued at $1,098,000 after buying an additional 112 shares during the last quarter. Raymond James & Associates lifted its position in ConocoPhillips by 1.5% during the 4th quarter. Raymond James & Associates now owns 1,563,044 shares of the energy producer’s stock worth $181,422,000 after buying an additional 23,572 shares in the last quarter. Harbor Investment Advisory LLC grew its holdings in ConocoPhillips by 2.2% during the 1st quarter. Harbor Investment Advisory LLC now owns 9,697 shares of the energy producer’s stock worth $1,234,000 after acquiring an additional 212 shares during the last quarter. Finally, Quotient Wealth Partners LLC acquired a new stake in ConocoPhillips in the 4th quarter valued at about $5,594,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of COP stock traded up $0.41 during trading hours on Friday, reaching $114.38. The company’s stock had a trading volume of 7,191,846 shares, compared to its average volume of 7,011,207. ConocoPhillips has a fifty-two week low of $99.35 and a fifty-two week high of $135.18. The firm’s 50 day simple moving average is $118.30 and its 200-day simple moving average is $117.58. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $133.77 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 2.04 and a beta of 1.22.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, May 2nd. The energy producer reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.04. The business had revenue of $14.48 billion for the quarter, compared to analyst estimates of $14.72 billion. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. Sell-side analysts forecast that ConocoPhillips will post 8.89 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 13th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend was Friday, May 10th. ConocoPhillips’s dividend payout ratio is 26.27%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on COP. Scotiabank increased their price target on shares of ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a research note on Thursday, April 11th. Morgan Stanley raised their price target on ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Mizuho dropped their price objective on ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating for the company in a report on Wednesday, June 5th. Bank of America reaffirmed a “buy” rating and issued a $147.00 target price on shares of ConocoPhillips in a research note on Friday, June 14th. Finally, Barclays lifted their price objective on ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $144.18.

About ConocoPhillips

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.