Allegiance Financial Group Advisory Services LLC Acquires New Position in ConocoPhillips (NYSE:COP)

Allegiance Financial Group Advisory Services LLC acquired a new stake in ConocoPhillips (NYSE:COP - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,282 shares of the energy producer's stock, valued at approximately $450,000.

A number of other hedge funds have also recently added to or reduced their stakes in COP. Murphy & Mullick Capital Management Corp acquired a new position in ConocoPhillips in the fourth quarter valued at $26,000. 10Elms LLP acquired a new position in ConocoPhillips in the fourth quarter valued at $28,000. Crowley Wealth Management Inc. acquired a new position in ConocoPhillips in the fourth quarter valued at $32,000. Garde Capital Inc. acquired a new position in ConocoPhillips in the first quarter valued at $35,000. Finally, Fourth Dimension Wealth LLC acquired a new position in ConocoPhillips in the fourth quarter valued at $39,000. Institutional investors and hedge funds own 82.36% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on COP shares. Wells Fargo & Company restated an "overweight" rating and set a $117.00 price objective (up previously from $113.00) on shares of ConocoPhillips in a research note on Thursday, June 26th. Citigroup cut their price target on ConocoPhillips from $140.00 to $115.00 and set a "buy" rating on the stock in a report on Wednesday, June 11th. Morgan Stanley restated an "overweight" rating and issued a $119.00 target price on shares of ConocoPhillips in a research report on Tuesday. Barclays reduced their price target on shares of ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Finally, Scotiabank set a $100.00 target price on shares of ConocoPhillips and gave the stock a "sector perform" rating in a research report on Friday, July 11th. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $122.21.

ConocoPhillips Stock Performance

COP stock traded down $1.25 on Friday, hitting $91.56. The company had a trading volume of 1,557,203 shares, compared to its average volume of 7,615,601. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $118.40. The stock has a market cap of $115.75 billion, a price-to-earnings ratio of 11.68, a P/E/G ratio of 2.45 and a beta of 0.61. 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 stock's 50-day simple moving average is $90.97 and its 200 day simple moving average is $94.66.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings results 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 net margin of 16.02% and a return on equity of 16.54%. The company had revenue of $16.18 billion for the quarter, compared to the consensus estimate of $15.74 billion. During the same period in the prior year, the firm posted $2.05 EPS. As a group, equities research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were given a $0.78 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.41%. ConocoPhillips's dividend payout ratio (DPR) is presently 39.64%.

Insider Activity

In other ConocoPhillips news, EVP Kirk L. Johnson acquired 5,300 shares of the stock in a transaction dated Monday, June 16th. The stock was acquired at an average cost of $94.24 per share, with a total value of $499,472.00. Following the transaction, the executive vice president owned 14,527 shares in the company, valued at $1,369,024.48. The trade was a 57.44% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.24% of the company's stock.

ConocoPhillips 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.

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