Rehmann Capital Advisory Group Sells 250 Shares of ConocoPhillips (NYSE:COP)

Rehmann Capital Advisory Group lessened its position in ConocoPhillips (NYSE:COP) by 4.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,729 shares of the energy producer’s stock after selling 250 shares during the period. Rehmann Capital Advisory Group’s holdings in ConocoPhillips were worth $729,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in COP. Orion Capital Management LLC bought a new position in ConocoPhillips during the 3rd quarter worth approximately $27,000. West Branch Capital LLC increased its position in shares of ConocoPhillips by 87.8% in the 4th quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after buying an additional 108 shares in the last quarter. Cooksen Wealth LLC acquired a new position in ConocoPhillips in the fourth quarter valued at about $27,000. Sachetta LLC bought a new stake in shares of ConocoPhillips in the fourth quarter worth about $27,000. Finally, Richardson Capital Management LLC acquired a new stake in shares of ConocoPhillips during the first quarter worth about $31,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Price Performance

Shares of COP traded up $0.75 during trading hours on Wednesday, reaching $111.94. The stock had a trading volume of 2,348,138 shares, compared to its average volume of 5,580,901. The company’s 50-day moving average is $116.08 and its two-hundred day moving average is $117.49. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.21 and a current ratio of 1.35. ConocoPhillips has a 12 month low of $104.85 and a 12 month high of $135.18. The stock has a market capitalization of $130.92 billion, a PE ratio of 12.61, a PEG ratio of 2.00 and a beta of 1.23.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, May 2nd. The energy producer reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.04. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. The firm had revenue of $14.48 billion during the quarter, compared to analysts’ expectations of $14.72 billion. Research analysts expect that ConocoPhillips will post 8.89 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend was Friday, May 10th. ConocoPhillips’s payout ratio is 26.27%.

Analyst Upgrades and Downgrades

COP has been the topic of several research analyst reports. Piper Sandler raised their target price on shares of ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. StockNews.com lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Monday. Scotiabank boosted their price target on ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. Susquehanna increased their price objective on ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a report on Monday, April 22nd. Finally, Truist Financial boosted their target price on ConocoPhillips from $160.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, June 3rd. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $145.69.

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.