ConocoPhillips (NYSE:COP) Position Raised by Allworth Financial LP

Allworth Financial LP lifted its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 30.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,076 shares of the energy producer's stock after purchasing an additional 7,020 shares during the quarter. Allworth Financial LP's holdings in ConocoPhillips were worth $3,159,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in COP. Murphy & Mullick Capital Management Corp acquired a new position in ConocoPhillips in the fourth quarter valued at $26,000. 10Elms LLP purchased a new position in ConocoPhillips in the fourth quarter valued at about $28,000. Crowley Wealth Management Inc. purchased a new position in ConocoPhillips in the fourth quarter valued at about $32,000. Garde Capital Inc. purchased a new position in ConocoPhillips in the first quarter valued at about $35,000. Finally, Rakuten Securities Inc. raised its position in ConocoPhillips by 222.0% in the fourth quarter. Rakuten Securities Inc. now owns 380 shares of the energy producer's stock valued at $38,000 after purchasing an additional 262 shares during the period. Institutional investors and hedge funds own 82.36% of the company's stock.

Insider Activity

In other news, EVP Kirk L. Johnson bought 5,300 shares of the company's stock in a transaction that occurred 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 completion of the acquisition, the executive vice president directly owned 14,527 shares in the company, valued at approximately $1,369,024.48. This trade represents a 57.44% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.24% of the company's stock.

Analyst Upgrades and Downgrades

COP has been the topic of several research reports. Morgan Stanley raised their price objective on ConocoPhillips from $116.00 to $118.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Royal Bank Of Canada cut their price objective on ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating on the stock in a research report on Friday. Citigroup cut their price objective on ConocoPhillips from $140.00 to $115.00 and set a "buy" rating on the stock in a research report on Wednesday, June 11th. Piper Sandler lifted their target price on ConocoPhillips from $107.00 to $113.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 2nd. Finally, Bank of America dropped their target price on ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. 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, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $122.15.

ConocoPhillips Stock Performance

Shares of NYSE COP traded up $0.29 during midday trading on Friday, hitting $95.66. 4,903,410 shares of the company's stock were exchanged, compared to its average volume of 7,648,450. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.27 and a quick ratio of 1.13. The stock's 50 day moving average price is $90.58 and its 200-day moving average price is $94.77. The firm has a market cap of $120.93 billion, a P/E ratio of 12.16, a PEG ratio of 2.57 and a beta of 0.61. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $118.40.

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 the consensus estimate of $2.05 by $0.04. The business had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. During the same period in the previous year, the firm posted $2.05 earnings per share. Equities research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $3.12 annualized dividend and a dividend yield of 3.26%. ConocoPhillips's dividend payout ratio is presently 39.64%.

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.