OMNI 360 Wealth Inc. Invests $391,000 in ConocoPhillips (NYSE:COP)

OMNI 360 Wealth Inc. purchased a new position in shares of ConocoPhillips (NYSE:COP - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,723 shares of the energy producer's stock, valued at approximately $391,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its holdings in ConocoPhillips by 13.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer's stock valued at $4,546,706,000 after purchasing an additional 5,549,078 shares in the last quarter. Elevation Point Wealth Partners LLC grew its holdings in ConocoPhillips by 83.0% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 18,060 shares of the energy producer's stock valued at $1,897,000 after purchasing an additional 8,189 shares in the last quarter. Schwartz Investment Counsel Inc. grew its holdings in ConocoPhillips by 159.6% during the 1st quarter. Schwartz Investment Counsel Inc. now owns 48,800 shares of the energy producer's stock valued at $5,125,000 after purchasing an additional 30,000 shares in the last quarter. Hennessy Advisors Inc. grew its holdings in ConocoPhillips by 151.1% during the 1st quarter. Hennessy Advisors Inc. now owns 91,224 shares of the energy producer's stock valued at $9,580,000 after purchasing an additional 54,900 shares in the last quarter. Finally, ORG Wealth Partners LLC grew its holdings in ConocoPhillips by 853.3% during the 1st quarter. ORG Wealth Partners LLC now owns 6,616 shares of the energy producer's stock valued at $698,000 after purchasing an additional 5,922 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on COP. Raymond James Financial reaffirmed an "outperform" rating and set a $109.00 price target (up from $103.00) on shares of ConocoPhillips in a report on Tuesday, May 20th. JPMorgan Chase & Co. reduced their price objective on shares of ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Morgan Stanley increased their price objective on shares of ConocoPhillips from $116.00 to $118.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Scotiabank reduced their price objective on shares of ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating on the stock in a research note on Friday, April 11th. Finally, Royal Bank Of Canada reduced their price objective on shares of ConocoPhillips from $120.00 to $115.00 and set an "outperform" rating on the stock in a research note on Friday, May 30th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, ConocoPhillips has a consensus rating of "Moderate Buy" and a consensus target price of $121.80.

ConocoPhillips Stock Performance

COP stock traded up $0.91 on Thursday, reaching $95.44. The company's stock had a trading volume of 4,005,686 shares, compared to its average volume of 7,637,106. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $118.40. The company has a market capitalization of $120.65 billion, a P/E ratio of 12.13, a price-to-earnings-growth ratio of 2.58 and a beta of 0.61. The firm has a fifty day moving average of $90.41 and a two-hundred day moving average of $94.79. 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 (NYSE:COP - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.05 by $0.04. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. The business had revenue of $16.18 billion during the quarter, compared to analyst estimates of $15.74 billion. During the same period in the prior year, the company posted $2.05 EPS. As a group, analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were paid a dividend of $0.78 per share. The ex-dividend date was Monday, May 19th. This represents a $3.12 annualized dividend and a yield of 3.27%. ConocoPhillips's payout ratio is 39.64%.

Insider Buying and Selling

In related news, EVP Kirk L. Johnson bought 5,300 shares of the stock in a transaction on Monday, June 16th. The shares were purchased at an average price of $94.24 per share, with a total value of $499,472.00. Following the purchase, the executive vice president owned 14,527 shares in the company, valued at approximately $1,369,024.48. This represents a 57.44% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.24% of the company's stock.

ConocoPhillips Company Profile

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.