Bessemer Group Inc. Raises Position in ConocoPhillips (NYSE:COP)

Bessemer Group Inc. grew its stake in ConocoPhillips (NYSE:COP - Free Report) by 1.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,643,456 shares of the energy producer's stock after acquiring an additional 39,882 shares during the period. Bessemer Group Inc. owned 0.29% of ConocoPhillips worth $382,635,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. MOKAN Wealth Management Inc. raised its holdings in shares of ConocoPhillips by 19.9% in the 1st quarter. MOKAN Wealth Management Inc. now owns 52,551 shares of the energy producer's stock valued at $5,519,000 after purchasing an additional 8,737 shares during the period. Spire Wealth Management raised its stake in ConocoPhillips by 10.5% in the first quarter. Spire Wealth Management now owns 18,646 shares of the energy producer's stock valued at $1,958,000 after buying an additional 1,776 shares during the period. waypoint wealth counsel acquired a new stake in shares of ConocoPhillips in the first quarter valued at approximately $223,000. Mattern Capital Management LLC boosted its stake in shares of ConocoPhillips by 21.1% during the 1st quarter. Mattern Capital Management LLC now owns 9,833 shares of the energy producer's stock worth $1,033,000 after acquiring an additional 1,714 shares during the period. Finally, Riverbend Wealth Management LLC boosted its stake in shares of ConocoPhillips by 9.3% during the 1st quarter. Riverbend Wealth Management LLC now owns 3,275 shares of the energy producer's stock worth $344,000 after acquiring an additional 278 shares during the period. Institutional investors own 82.36% of the company's stock.

Wall Street Analyst Weigh In

COP has been the topic of a number of research reports. Bank of America decreased their price objective on ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. Citigroup reduced their price objective on ConocoPhillips from $140.00 to $115.00 and set a "buy" rating on the stock in a research note on Wednesday, June 11th. Morgan Stanley upped their price target on shares of ConocoPhillips from $116.00 to $118.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. JPMorgan Chase & Co. dropped their price target on shares of ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Finally, Barclays cut their price target 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. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $121.50.

ConocoPhillips Stock Performance

Shares of NYSE COP traded up $1.88 during midday trading on Thursday, hitting $90.88. The company's stock had a trading volume of 6,526,745 shares, compared to its average volume of 7,525,956. The firm has a market capitalization of $114.89 billion, a price-to-earnings ratio of 11.55, a P/E/G ratio of 2.41 and a beta of 0.61. 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 fifty day moving average price of $89.89 and a 200 day moving average price of $95.24. ConocoPhillips has a one year low of $79.88 and a one year high of $118.40.

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, beating analysts' consensus estimates of $2.05 by $0.04. ConocoPhillips had a net margin of 16.02% and a return on equity of 16.54%. The business had revenue of $16.18 billion for the quarter, compared to analysts' expectations of $15.74 billion. During the same quarter in the previous year, the firm posted $2.05 EPS. On average, research analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.43%. The ex-dividend date was Monday, May 19th. ConocoPhillips's payout ratio is 39.64%.

Insider Transactions at ConocoPhillips

In related news, EVP Kirk L. Johnson purchased 5,300 shares of ConocoPhillips 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 transaction, the executive vice president now directly owns 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.24% of the company's stock.

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.