GPS Wealth Strategies Group LLC, a renowned private investment firm that helps clients grow and protect their wealth strategically and sustainably, has announced the acquisition of a new position in ConocoPhillips (NYSE:COP). The company’s latest form 13F filing with the SEC confirms that it has purchased 19,500 shares of the energy producer’s stock during the first quarter. This investment is valued at approximately $1,935,000.
Furthermore, earlier this month, ConocoPhillips declared its quarterly dividend payment to shareholders. The quarter ended on Thursday June 1st; stockholders on record as of Tuesday May 16th received a dividend payout of $0.51 per share. This represents an annualized dividend payout ratio (DPR) of $2.04 and a dividend yield of 2.01%.
According to Bloomberg analysts’ ratings, six equities research analysts have rated COP stock as “hold,” with fifteen rating them as “buy,” and one rating them as “strong buy.” The overall consensus rating is considered “Moderate Buy” with a 12-month price target set at $136.32.
Notably, UBS Group recently gave ConocoPhillips’ stocks a ‘buy’ rating alongside a $139.00 target price on the stock while Citigroup lowered their target price from $160.00 to $145.00 but still maintained their ‘buy’ rating on the stock in their research report published in February 27th.
Mizuho had previously lowered its target price range for ConocoPhillips from $128.00 to $126.00 in May while Raymond James lifted its own estimates for cutting-edge oil exploration & production effort from wood river area produced by Conoco Phillips last year after they confirmed strong reserves for some years to come; and currently stands at $142.00 putting out an overwhelming ‘strong-buy’ indication for potential investors.
Finally, Societe Generale raised ConocoPhillips from a “sell” rating to a “hold” rating and reiterated the $105.00 target price after comprehensive analysis of the stock. This renewed rating was issued, mainly due to potential market volatility linked with considerable changes in oil prices which could affect the industry for some quarters into the future.
Overall, GPS Wealth Strategies Group LLC’s investment in ConocoPhillips represents immense confidence in their shares’ future performance from an eminent player in private wealth management. The outlook holds considerable promise as it comes amidst top-rated recommendations by leading equities researchers such as UBS Group and Raymond James.
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ConocoPhillips Undergoes Significant Ownership Changes and Continues to Deliver Strong Financial Performance
Houston-based ConocoPhillips, one of the largest integrated energy companies in the world, has recently undergone some significant changes in terms of ownership. While several institutional investors have purchased shares worth millions of dollars, director Caroline Maury Devine has sold 1,000 shares at an average price of $102.08 per share. Corporate insiders now own only 0.37% of the company’s stock while hedge funds and other institutional investors have purchased approximately 80.20%.
This shift in ownership comes following the firm’s declaration of its quarterly dividend, which was paid on June 1st to stockholders who were recorded as owning the stock on May 16th. The ex-dividend date for this quarter was June 26th with a payout ratio of 16.32%.Â
The business has a market capitalization of $122.62 billion and operates with a P/E ratio of 8.11, along with a price-to-earnings-growth ratio of 0.58 and a beta of 1.31.
Given all these changes, ConocoPhillips continues to show strong financial performance in its industry as it reported earnings per share (EPS) of $2.38 for Q1 that surpasses analyst predictions by $0.36 per share, allowing us to make informed predictions regarding its future EPS for the current year estimated at roughly $9.56.
The company appears stable in terms of liquidity ratios; it has been reported with a quick ratio and current ratio equal to 1.29 and 1:39 respectively until March end from announced sources supporting short-term liquidity capabilities.
Following various investments from notable hedge funds including Galvin Gaustad & Stein LLC worth around $425k buying over additional seven hundred shares last quarter followed by Bourgeon Capital Management LL worth approximately $8m investing another fourteen hundred shares during the same quarter time period making sense based on the outstanding quarterly performance reported by ConocoPhillips. Â
With a 50-day moving average of $101.90 and a 200-day moving average of $107.23, ConocoPhillips holds a prominent position in the market as it traverses volatile oil prices and fluctuating geopolitical scenarios while still managing to deliver solid returns for its shareholders.