Clearwater Capital Advisors LLC Invests $1.07 Million in ConocoPhillips (NYSE:COP)

Key Points

• Clearwater Capital Advisors LLC has acquired a new position in ConocoPhillips, purchasing 10,151 shares valued at approximately $1,066,000 in the first quarter.
• Several institutional investors have significantly increased their holdings in ConocoPhillips, with ORG Wealth Partners LLC leading with an increase of 853.3% during the same period.
• ConocoPhillips recently announced a quarterly dividend of $0.78 per share, representing an annualized dividend yield of 3.4% and a payout ratio of 39.64%.

Clearwater Capital Advisors LLC acquired a new stake in ConocoPhillips (NYSE:COP - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 10,151 shares of the energy producer's stock, valued at approximately $1,066,000.

Several other large investors also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its position in shares of ConocoPhillips by 13.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer's stock worth $4,546,706,000 after purchasing an additional 5,549,078 shares during the period. Capital International Investors lifted its position in shares of ConocoPhillips by 4.9% in the 4th quarter. Capital International Investors now owns 31,287,113 shares of the energy producer's stock worth $3,101,989,000 after purchasing an additional 1,473,027 shares during the period. Invesco Ltd. lifted its position in shares of ConocoPhillips by 37.1% in the 4th quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer's stock worth $1,544,101,000 after purchasing an additional 4,211,939 shares during the period. Northern Trust Corp lifted its position in shares of ConocoPhillips by 27.6% in the 4th quarter. Northern Trust Corp now owns 13,757,835 shares of the energy producer's stock worth $1,364,364,000 after purchasing an additional 2,971,661 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of ConocoPhillips by 9.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 12,021,394 shares of the energy producer's stock worth $1,191,984,000 after acquiring an additional 1,078,707 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Piper Sandler reiterated an "overweight" rating and set a $123.00 price objective (up previously from $113.00) on shares of ConocoPhillips in a research note on Tuesday, July 15th. Scotiabank boosted their price objective on shares of ConocoPhillips from $95.00 to $100.00 and gave the stock a "sector perform" rating in a research note on Friday, July 11th. Citigroup reduced their price objective on shares of ConocoPhillips from $140.00 to $115.00 and set a "buy" rating for the company in a research note on Wednesday, June 11th. Bank of America reduced their price objective on shares of ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd. Finally, Morgan Stanley reiterated an "overweight" rating and set a $119.00 price objective on shares of ConocoPhillips in a research note on Tuesday, July 15th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $121.33.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, EVP Kirk L. Johnson acquired 5,300 shares of the business's stock in a transaction dated Monday, June 16th. The shares were purchased at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the completion of the purchase, the executive vice president directly owned 14,527 shares of the company's stock, valued at $1,369,024.48. The trade was a 57.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.24% of the stock is owned by insiders.

ConocoPhillips Stock Performance

ConocoPhillips stock traded down $2.59 during mid-day trading on Friday, reaching $92.75. 6,348,613 shares of the company traded hands, compared to its average volume of 5,734,546. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.27 and a quick ratio of 1.13. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $116.08. The company has a market capitalization of $117.25 billion, a price-to-earnings ratio of 11.79, a price-to-earnings-growth ratio of 2.41 and a beta of 0.67. The firm's fifty day moving average is $91.97 and its two-hundred day moving average is $93.99.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.05 by $0.04. The business had revenue of $16.18 billion for the quarter, compared to analyst estimates of $15.74 billion. ConocoPhillips had a net margin of 16.02% and a return on equity of 16.54%. During the same quarter in the prior year, the business posted $2.05 EPS. On average, equities research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were paid a $0.78 dividend. The ex-dividend date was Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.4%. ConocoPhillips's dividend payout ratio is presently 39.64%.

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.