Bingham Private Wealth LLC Invests $368,000 in ConocoPhillips (NYSE:COP)

Bingham Private Wealth LLC purchased a new position in ConocoPhillips (NYSE:COP - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,503 shares of the energy producer's stock, valued at approximately $368,000.

A number of other large investors have also recently made changes to their positions in the stock. Murphy & Mullick Capital Management Corp bought a new stake in ConocoPhillips during the 4th quarter valued at approximately $26,000. 10Elms LLP bought a new stake in shares of ConocoPhillips in the 4th quarter worth approximately $28,000. Crowley Wealth Management Inc. bought a new stake in shares of ConocoPhillips in the 4th quarter worth approximately $32,000. Garde Capital Inc. bought a new stake in shares of ConocoPhillips in the 1st quarter worth approximately $35,000. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of ConocoPhillips in the 4th quarter worth approximately $39,000. 82.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on COP. Citigroup cut their price target on ConocoPhillips from $140.00 to $115.00 and set a "buy" rating for the company in a research note on Wednesday, June 11th. Piper Sandler reiterated an "overweight" rating and issued a $123.00 price target (up previously from $113.00) on shares of ConocoPhillips in a research note on Tuesday, July 15th. Raymond James Financial lifted their target price on ConocoPhillips from $109.00 to $117.00 and gave the stock an "outperform" rating in a report on Tuesday. UBS Group lifted their target price on ConocoPhillips from $111.00 to $115.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Finally, Scotiabank set a $100.00 target price on ConocoPhillips and gave the stock a "sector perform" rating in a report on Friday, July 11th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, ConocoPhillips presently has an average rating of "Moderate Buy" and a consensus target price of $121.39.

Insider Activity

In other ConocoPhillips news, EVP Kirk L. Johnson acquired 5,300 shares of the company's stock in a transaction on Monday, June 16th. The shares were bought at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the completion of the purchase, the executive vice president owned 14,527 shares in the company, valued at $1,369,024.48. This trade represents a 57.44% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.24% of the company's stock.

ConocoPhillips Stock Performance

NYSE:COP traded up $1.91 during mid-day trading on Tuesday, hitting $92.91. The company's stock had a trading volume of 3,501,574 shares, compared to its average volume of 7,618,839. The business's fifty day moving average is $91.03 and its two-hundred day moving average is $94.53. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.27 and a quick ratio of 1.13. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $116.08. The stock has a market cap of $117.46 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 2.43 and a beta of 0.61.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, beating analysts' consensus estimates of $2.05 by $0.04. The company 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 in the prior year, the firm earned $2.05 EPS. Analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal 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 given a dividend of $0.78 per share. The ex-dividend date was Monday, May 19th. This represents a $3.12 annualized dividend and a dividend yield of 3.36%. ConocoPhillips's dividend payout ratio (DPR) 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.