Axxcess Wealth Management LLC Has $5.03 Million Stake in ConocoPhillips (NYSE:COP)

Axxcess Wealth Management LLC lifted its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 20.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,864 shares of the energy producer's stock after purchasing an additional 8,085 shares during the period. Axxcess Wealth Management LLC's holdings in ConocoPhillips were worth $5,027,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Cornerstone Planning Group LLC lifted its holdings in ConocoPhillips by 25.6% in the first quarter. Cornerstone Planning Group LLC now owns 1,274 shares of the energy producer's stock valued at $134,000 after buying an additional 260 shares during the period. Aspen Wealth Strategies LLC lifted its holdings in ConocoPhillips by 23.3% in the first quarter. Aspen Wealth Strategies LLC now owns 8,026 shares of the energy producer's stock valued at $843,000 after buying an additional 1,519 shares during the period. Linden Thomas Advisory Services LLC lifted its holdings in ConocoPhillips by 7.3% in the first quarter. Linden Thomas Advisory Services LLC now owns 13,384 shares of the energy producer's stock valued at $1,406,000 after buying an additional 913 shares during the period. Greenleaf Trust lifted its holdings in ConocoPhillips by 3.8% in the first quarter. Greenleaf Trust now owns 28,738 shares of the energy producer's stock valued at $3,018,000 after buying an additional 1,060 shares during the period. Finally, Silverlake Wealth Management LLC increased its stake in ConocoPhillips by 9.3% in the first quarter. Silverlake Wealth Management LLC now owns 2,845 shares of the energy producer's stock valued at $299,000 after purchasing an additional 241 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Scotiabank lowered their target price on shares of ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating for the company in a research note on Friday, April 11th. Citigroup lowered their target price on shares of ConocoPhillips from $140.00 to $115.00 and set a "buy" rating for the company in a research note on Wednesday, June 11th. UBS Group lowered their target price on shares of ConocoPhillips from $116.00 to $111.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Mizuho lowered their target price on shares of ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Finally, Royal Bank Of Canada lowered their target price on shares of ConocoPhillips from $120.00 to $115.00 and set an "outperform" rating for the company in a research note on Friday, May 30th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $121.80.

ConocoPhillips Stock Down 1.2%

ConocoPhillips stock opened at $94.61 on Thursday. The company has a market cap of $119.60 billion, a P/E ratio of 12.02, a price-to-earnings-growth ratio of 2.58 and a beta of 0.61. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $118.40. The company has a fifty day simple moving average of $90.41 and a 200 day simple moving average of $94.79. The company has a current ratio of 1.27, a quick ratio of 1.13 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP - Get Free Report) last released its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, beating analysts' consensus estimates 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 net margin of 16.02% and a return on equity of 16.54%. During the same quarter last year, the firm earned $2.05 earnings per share. Research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips's dividend payout ratio is currently 39.64%.

Insider Buying and Selling

In other news, EVP Kirk L. Johnson purchased 5,300 shares of the business'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 completion of the purchase, 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.24% of the stock is currently owned by corporate insiders.

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.

Want to see what other hedge funds are holding COP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ConocoPhillips (NYSE:COP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.