ConocoPhillips (NYSE:COP) Shares Bought by Assetmark Inc.

Key Points

• Assetmark Inc. increased its stake in ConocoPhillips by 7.7% during the 1st quarter, owning a total of 287,597 shares worth approximately $30.2 million at the end of the reporting period.
• Analysts have set new price targets for ConocoPhillips, with Scotiabank raising it from $95 to $100 and Raymond James increasing it from $109 to $117, while the average target price is $121.33.
• ConocoPhillips declared a quarterly dividend of $0.78 per share, representing an annualized yield of 3.29%, and reported a net margin of 16.02% for its latest earnings.

Assetmark Inc. raised its stake in ConocoPhillips (NYSE:COP - Free Report) by 7.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 287,597 shares of the energy producer's stock after acquiring an additional 20,597 shares during the quarter. Assetmark Inc.'s holdings in ConocoPhillips were worth $30,203,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Zions Bancorporation N.A. boosted its position in ConocoPhillips by 29.3% during the fourth quarter. Zions Bancorporation N.A. now owns 529 shares of the energy producer's stock worth $52,000 after purchasing an additional 120 shares in the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in shares of ConocoPhillips during the 4th quarter worth approximately $26,000. UniSuper Management Pty Ltd lifted its position in shares of ConocoPhillips by 41.4% during the 4th quarter. UniSuper Management Pty Ltd now owns 80,558 shares of the energy producer's stock valued at $7,989,000 after buying an additional 23,600 shares in the last quarter. Howe & Rusling Inc. grew its stake in ConocoPhillips by 13.3% in the 4th quarter. Howe & Rusling Inc. now owns 4,971 shares of the energy producer's stock valued at $493,000 after acquiring an additional 582 shares during the period. Finally, LM Advisors LLC acquired a new stake in ConocoPhillips in the 4th quarter valued at $262,000. Hedge funds and other institutional investors own 82.36% of the company's stock.

ConocoPhillips Trading Down 1.5%

ConocoPhillips stock traded down $1.48 during midday trading on Wednesday, hitting $96.51. 1,598,136 shares of the stock were exchanged, compared to its average volume of 8,167,412. 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 $91.44 and its 200 day simple moving average is $94.28. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $116.08. The stock has a market capitalization of $122.01 billion, a price-to-earnings ratio of 12.26, a PEG ratio of 2.53 and a beta of 0.61.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.04. The business had revenue of $16.18 billion during 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 posted $2.05 EPS. On average, equities analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued a $0.78 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $3.12 annualized dividend and a yield of 3.23%. ConocoPhillips's dividend payout ratio (DPR) is presently 39.64%.

Insider Buying and Selling

In other ConocoPhillips news, EVP Kirk L. Johnson purchased 5,300 shares of the firm's stock in a transaction on Monday, June 16th. The stock was bought at an average price of $94.24 per share, with a total value of $499,472.00. Following the transaction, the executive vice president directly owned 14,527 shares of the company's stock, valued at approximately $1,369,024.48. This represents a 57.44% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.24% of the stock is owned by company insiders.

Analyst Ratings Changes

COP has been the subject of a number of research analyst reports. Morgan Stanley restated an "overweight" rating and set a $119.00 price objective on shares of ConocoPhillips in a research report on Tuesday, July 15th. UBS Group upped their price target on shares of ConocoPhillips from $111.00 to $115.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Barclays decreased their price target on shares of ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Scotiabank increased their target price on ConocoPhillips from $95.00 to $100.00 and gave the company a "sector perform" rating in a report on Friday, July 11th. Finally, Raymond James Financial raised their target price on ConocoPhillips from $109.00 to $117.00 and gave the company an "outperform" rating in a research report on Tuesday, July 22nd. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $121.33.

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.