Axxcess Wealth Management LLC Grows Stock Position in ConocoPhillips (NYSE:COP)

Axxcess Wealth Management LLC boosted its holdings in ConocoPhillips (NYSE:COP - Free Report) by 20.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 47,864 shares of the energy producer's stock after acquiring an additional 8,085 shares during the quarter. Axxcess Wealth Management LLC's holdings in ConocoPhillips were worth $5,027,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Proficio Capital Partners LLC increased its position in shares of ConocoPhillips by 21.3% in the fourth quarter. Proficio Capital Partners LLC now owns 14,733 shares of the energy producer's stock valued at $1,461,000 after buying an additional 2,591 shares in the last quarter. Edgestream Partners L.P. purchased a new position in shares of ConocoPhillips in the fourth quarter valued at $601,000. Moran Wealth Management LLC increased its position in shares of ConocoPhillips by 3.4% in the fourth quarter. Moran Wealth Management LLC now owns 6,940 shares of the energy producer's stock valued at $688,000 after buying an additional 230 shares in the last quarter. Inspire Advisors LLC purchased a new position in shares of ConocoPhillips in the fourth quarter valued at $201,000. Finally, Moors & Cabot Inc. increased its position in shares of ConocoPhillips by 14.0% in the fourth quarter. Moors & Cabot Inc. now owns 48,932 shares of the energy producer's stock valued at $4,853,000 after buying an additional 6,021 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on COP shares. Wells Fargo & Company reiterated an "overweight" rating and set a $117.00 price objective (up previously from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. Scotiabank lifted their price objective on ConocoPhillips from $95.00 to $100.00 and gave the stock a "sector perform" rating in a research report on Friday. Mizuho dropped their price objective on ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Royal Bank Of Canada dropped their price objective on ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating for the company in a research report on Friday. Finally, JPMorgan Chase & Co. dropped their price objective on ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to data from MarketBeat, ConocoPhillips presently has an average rating of "Moderate Buy" and a consensus target price of $121.95.

Insiders Place Their Bets

In related news, EVP Kirk L. Johnson purchased 5,300 shares of the firm's stock in a transaction on Monday, June 16th. The stock was purchased at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the acquisition, the executive vice president directly owned 14,527 shares in the company, valued at $1,369,024.48. The trade was a 57.44% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.24% of the stock is currently owned by corporate insiders.

ConocoPhillips Trading Up 0.6%

Shares of NYSE:COP traded up $0.54 during trading on Friday, reaching $95.91. 2,256,982 shares of the stock were exchanged, compared to its average volume of 7,630,939. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.13 and a current ratio of 1.27. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $118.40. The firm has a market cap of $121.25 billion, a price-to-earnings ratio of 12.19, a price-to-earnings-growth ratio of 2.55 and a beta of 0.61. The firm's 50-day moving average price is $90.50 and its 200 day moving average price is $94.78.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.05 by $0.04. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. The business had revenue of $16.18 billion during the quarter, compared to analysts' expectations of $15.74 billion. During the same quarter in the previous year, the business earned $2.05 EPS. On average, sell-side analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date was Monday, May 19th. ConocoPhillips's payout ratio is currently 39.64%.

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.