Keystone Financial Group Acquires 787 Shares of ConocoPhillips (NYSE:COP)

Keystone Financial Group increased its holdings in ConocoPhillips (NYSE:COP) by 33.2% in the fourth quarter, HoldingsChannel reports. The firm owned 3,159 shares of the energy producer’s stock after purchasing an additional 787 shares during the period. Keystone Financial Group’s holdings in ConocoPhillips were worth $313,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Albion Financial Group UT increased its holdings in shares of ConocoPhillips by 876.9% during the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after acquiring an additional 228 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in ConocoPhillips during the fourth quarter valued at approximately $26,000. Centricity Wealth Management LLC bought a new position in shares of ConocoPhillips in the fourth quarter valued at approximately $27,000. Crowley Wealth Management Inc. acquired a new stake in shares of ConocoPhillips in the fourth quarter worth $32,000. Finally, Global Wealth Strategies & Associates boosted its holdings in shares of ConocoPhillips by 80.5% during the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after buying an additional 153 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $86.32 on Tuesday. The stock has a market cap of $109.12 billion, a price-to-earnings ratio of 11.08, a P/E/G ratio of 0.79 and a beta of 0.83. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $132.61. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The business’s 50-day simple moving average is $96.24 and its 200 day simple moving average is $101.91.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, topping the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. As a group, research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.61%. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

Analysts Set New Price Targets

A number of brokerages have recently commented on COP. Truist Financial upped their price objective on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Raymond James downgraded ConocoPhillips from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the stock from $157.00 to $124.00 in a research report on Monday, February 10th. UBS Group lowered their price objective on ConocoPhillips from $130.00 to $116.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. JPMorgan Chase & Co. reduced their target price on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Finally, TD Cowen initiated coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They issued a “buy” rating and a $125.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and an average price target of $129.74.

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.