ConocoPhillips (NYSE:COP) Stake Lowered by Bank Julius Baer & Co. Ltd Zurich

Bank Julius Baer & Co. Ltd Zurich decreased its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 3.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,660,692 shares of the energy producer's stock after selling 51,137 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich owned about 0.13% of ConocoPhillips worth $190,218,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its holdings in ConocoPhillips by 13.8% in the fourth 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 acquiring an additional 5,549,078 shares during the last quarter. Elevation Point Wealth Partners LLC lifted its stake in shares of ConocoPhillips by 83.0% during the first quarter. Elevation Point Wealth Partners LLC now owns 18,060 shares of the energy producer's stock worth $1,897,000 after purchasing an additional 8,189 shares in the last quarter. Schwartz Investment Counsel Inc. lifted its stake in shares of ConocoPhillips by 159.6% during the first quarter. Schwartz Investment Counsel Inc. now owns 48,800 shares of the energy producer's stock worth $5,125,000 after purchasing an additional 30,000 shares in the last quarter. ORG Wealth Partners LLC lifted its stake in shares of ConocoPhillips by 853.3% during the first quarter. ORG Wealth Partners LLC now owns 6,616 shares of the energy producer's stock worth $698,000 after purchasing an additional 5,922 shares in the last quarter. Finally, Hennessy Advisors Inc. lifted its stake in shares of ConocoPhillips by 151.1% during the first quarter. Hennessy Advisors Inc. now owns 91,224 shares of the energy producer's stock worth $9,580,000 after purchasing an additional 54,900 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on COP. Bank of America reduced their price objective on ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. Raymond James Financial boosted their price objective on ConocoPhillips from $109.00 to $117.00 and gave the stock an "outperform" rating in a research note on Tuesday. Susquehanna reduced their price objective on ConocoPhillips from $114.00 to $113.00 and set a "positive" rating on the stock in a research note on Wednesday. Morgan Stanley restated an "overweight" rating and set a $119.00 price objective on shares of ConocoPhillips in a research note on Tuesday, July 15th. Finally, Scotiabank set a $100.00 price target on ConocoPhillips and gave the stock a "sector perform" rating in a research note on Friday, July 11th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $121.33.

Insider Activity at ConocoPhillips

In related news, EVP Kirk L. Johnson bought 5,300 shares of the stock in a transaction dated Monday, June 16th. The stock was bought at an average cost of $94.24 per share, with a total value of $499,472.00. Following the completion of the acquisition, the executive vice president owned 14,527 shares of the company's stock, valued at $1,369,024.48. This trade represents a 57.44% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.24% of the company's stock.

ConocoPhillips Stock Up 0.7%

ConocoPhillips stock traded up $0.66 during midday trading on Thursday, hitting $95.70. The stock had a trading volume of 5,026,056 shares, compared to its average volume of 8,289,403. 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 has a market cap of $120.98 billion, a P/E ratio of 12.16, a P/E/G ratio of 2.46 and a beta of 0.61. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $116.08. The business has a fifty day moving average price of $91.03 and a 200 day moving average price of $94.46.

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, beating the consensus estimate of $2.05 by $0.04. The firm had revenue of $16.18 billion during 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 period in the previous year, the company earned $2.05 earnings per share. Research analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The business 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 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips's dividend payout ratio (DPR) is presently 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.