ConocoPhillips (NYSE:COP) Position Increased by Avantax Advisory Services Inc.

Key Points

• Avantax Advisory Services Inc. increased its holdings in ConocoPhillips by 7.7%, acquiring an additional 11,966 shares during the first quarter, bringing their total ownership to 166,477 shares valued at $17.48 million.
• Several institutional investors significantly boosted their stakes in ConocoPhillips, with notable increases from Hennessy Advisors (151.1%) and ORG Wealth Partners (853.3%) in the first quarter.
• ConocoPhillips recently announced a quarterly dividend of $0.78 per share, yielding 3.29%, with expectations for an 8.16 EPS for the current year.

Avantax Advisory Services Inc. boosted its stake in ConocoPhillips (NYSE:COP - Free Report) by 7.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 166,477 shares of the energy producer's stock after acquiring an additional 11,966 shares during the quarter. Avantax Advisory Services Inc.'s holdings in ConocoPhillips were worth $17,483,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its holdings in ConocoPhillips by 13.8% in 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 during the period. Capital International Investors increased its position in shares of ConocoPhillips by 4.9% during the fourth quarter. Capital International Investors now owns 31,287,113 shares of the energy producer's stock worth $3,101,989,000 after buying an additional 1,473,027 shares during the period. Geode Capital Management LLC grew its holdings in ConocoPhillips by 13.7% in the fourth quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer's stock worth $2,792,521,000 after purchasing an additional 3,397,360 shares during the period. Invesco Ltd. grew its holdings in shares of ConocoPhillips by 37.1% during the fourth quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer's stock valued at $1,544,101,000 after buying an additional 4,211,939 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of ConocoPhillips by 6.4% during the fourth quarter. Franklin Resources Inc. now owns 14,420,058 shares of the energy producer's stock valued at $1,430,034,000 after purchasing an additional 862,707 shares in the last quarter. 82.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Morgan Stanley reissued an "overweight" rating and issued a $119.00 price target on shares of ConocoPhillips in a research report on Tuesday, July 15th. Susquehanna lowered their price target on shares of ConocoPhillips from $114.00 to $113.00 and set a "positive" rating for the company in a report on Wednesday, July 23rd. Mizuho decreased their price objective on shares of ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Scotiabank upped their price objective on shares of ConocoPhillips from $95.00 to $100.00 and gave the stock a "sector perform" rating in a report on Friday, July 11th. Finally, Barclays cut their price objective on shares of ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, ConocoPhillips currently has an average rating of "Moderate Buy" and a consensus target price of $121.33.

ConocoPhillips Stock Performance

NYSE COP traded up $0.05 on Tuesday, reaching $97.07. The stock had a trading volume of 1,361,919 shares, compared to its average volume of 8,186,928. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $116.08. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.13 and a current ratio of 1.27. The business's 50-day moving average price is $91.28 and its 200 day moving average price is $94.25. The stock has a market cap of $122.71 billion, a P/E ratio of 12.35, a price-to-earnings-growth ratio of 2.47 and a beta of 0.61.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its 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 company had revenue of $16.18 billion for the quarter, compared to analyst estimates of $15.74 billion. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. During the same quarter in the prior year, the company earned $2.05 earnings per share. As a group, equities analysts expect 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. Stockholders of record on Monday, May 19th were issued a $0.78 dividend. The ex-dividend date was Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.21%. ConocoPhillips's dividend payout ratio (DPR) is 39.64%.

Insider Activity at ConocoPhillips

In related 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 acquired at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the acquisition, the executive vice president owned 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 filing with the SEC, which can be accessed through this link. 0.24% of the stock is currently owned by company insiders.

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.