Advisor Resource Council Acquires New Holdings in ConocoPhillips (NYSE:COP)

Advisor Resource Council bought a new position in ConocoPhillips (NYSE:COP - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 10,908 shares of the energy producer's stock, valued at approximately $1,131,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of COP. Murphy & Mullick Capital Management Corp bought a new position in shares of ConocoPhillips during the 4th quarter valued at about $26,000. Centricity Wealth Management LLC purchased a new stake in shares of ConocoPhillips in the fourth quarter worth about $27,000. 10Elms LLP bought a new position in ConocoPhillips during the fourth quarter valued at approximately $28,000. Crowley Wealth Management Inc. bought a new position in ConocoPhillips during the fourth quarter valued at approximately $32,000. Finally, Marshall Investment Management LLC purchased a new position in ConocoPhillips during the 4th quarter valued at approximately $36,000. Institutional investors own 82.36% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Royal Bank Of Canada lowered their target price on ConocoPhillips from $120.00 to $115.00 and set an "outperform" rating for the company in a research report on Friday, May 30th. Mizuho decreased their price target on shares of ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Citigroup lowered their price objective on shares of ConocoPhillips from $140.00 to $115.00 and set a "buy" rating for the company in a research report on Wednesday, June 11th. Piper Sandler reduced their target price on shares of ConocoPhillips from $114.00 to $107.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. decreased their target price on shares of ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, ConocoPhillips has an average rating of "Moderate Buy" and a consensus target price of $121.30.

ConocoPhillips Trading Up 1.0%

Shares of NYSE COP traded up $0.96 during midday trading on Friday, hitting $94.76. The company's stock had a trading volume of 16,015,615 shares, compared to its average volume of 7,489,673. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $118.40. The company has a current ratio of 1.27, a quick ratio of 1.13 and a debt-to-equity ratio of 0.36. The firm has a market cap of $119.79 billion, a P/E ratio of 12.04, a price-to-earnings-growth ratio of 2.56 and a beta of 0.61. The business's 50 day moving average is $89.65 and its two-hundred day moving average is $95.46.

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

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips's dividend payout ratio is presently 39.64%.

Insider Activity at ConocoPhillips

In other news, EVP Kirk L. Johnson acquired 5,300 shares of ConocoPhillips stock in a transaction on Monday, June 16th. The shares were bought at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the acquisition, the executive vice president now directly owns 14,527 shares of the company's stock, valued at $1,369,024.48. This trade represents a 57.44% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.24% of the stock is currently owned by company insiders.

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.