Aspetuck Financial Management LLC Acquires New Shares in ConocoPhillips (NYSE:COP)

Aspetuck Financial Management LLC purchased a new stake in shares of ConocoPhillips (NYSE:COP - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 12,799 shares of the energy producer's stock, valued at approximately $1,344,000.

A number of other large investors have also added to or reduced their stakes in COP. Murphy & Mullick Capital Management Corp purchased a new position in shares of ConocoPhillips during the fourth quarter worth approximately $26,000. 10Elms LLP purchased a new position in shares of ConocoPhillips during the fourth quarter worth approximately $28,000. Crowley Wealth Management Inc. purchased a new position in ConocoPhillips in the 4th quarter worth $32,000. Garde Capital Inc. purchased a new position in ConocoPhillips in the 1st quarter worth $35,000. Finally, Rakuten Securities Inc. raised its position in ConocoPhillips by 222.0% in the 4th quarter. Rakuten Securities Inc. now owns 380 shares of the energy producer's stock worth $38,000 after purchasing an additional 262 shares during the period. Hedge funds and other institutional investors own 82.36% of the company's stock.

ConocoPhillips Stock Down 0.8%

Shares of NYSE:COP traded down $0.69 during midday trading on Friday, reaching $90.20. The company's stock had a trading volume of 7,553,864 shares, compared to its average volume of 7,542,196. The firm has a market capitalization of $114.03 billion, a P/E ratio of 11.46, a PEG ratio of 2.44 and a beta of 0.61. The company has a quick ratio of 1.13, a current ratio of 1.27 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $118.40. The firm has a 50 day moving average of $89.96 and a 200-day moving average of $95.02.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, topping analysts' consensus estimates of $2.05 by $0.04. The business had revenue of $16.18 billion for the quarter, compared to analysts' expectations 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 company earned $2.05 earnings per share. On average, research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.46%. The ex-dividend date was Monday, May 19th. ConocoPhillips's dividend payout ratio (DPR) is 39.64%.

Insider Activity at ConocoPhillips

In other news, EVP Kirk L. Johnson purchased 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 acquisition, the executive vice president now directly owns 14,527 shares in the company, valued at $1,369,024.48. This represents a 57.44% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.24% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on COP shares. Royal Bank Of Canada decreased their price objective on ConocoPhillips from $120.00 to $115.00 and set an "outperform" rating on the stock in a report on Friday, May 30th. Bank of America decreased their target price on shares of ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. Mizuho decreased their target price 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. Raymond James Financial restated an "outperform" rating and issued a $109.00 price objective (up previously from $103.00) on shares of ConocoPhillips in a research report on Tuesday, May 20th. Finally, Wells Fargo & Company restated an "overweight" rating and issued a $117.00 price objective (up previously from $113.00) on shares of ConocoPhillips in a research report on Thursday. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $121.50.

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.