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

Bingham Private Wealth LLC purchased a new position in shares of ConocoPhillips (NYSE:COP - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,503 shares of the energy producer's stock, valued at approximately $368,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp purchased a new position in ConocoPhillips in the fourth quarter valued at about $26,000. 10Elms LLP purchased a new position in ConocoPhillips in the fourth quarter valued at about $28,000. Crowley Wealth Management Inc. purchased a new position in ConocoPhillips in the fourth quarter valued at about $32,000. Garde Capital Inc. purchased a new position in ConocoPhillips in the first quarter valued at about $35,000. Finally, Fourth Dimension Wealth LLC purchased a new position in ConocoPhillips in the fourth quarter valued at about $39,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on COP shares. Bank of America dropped their target price on shares of ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. Royal Bank Of Canada dropped their price target on shares of ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating on the stock in a research note on Friday, July 11th. Raymond James Financial upped their price target on shares of ConocoPhillips from $109.00 to $117.00 and gave the company an "outperform" rating in a research note on Tuesday. Susquehanna dropped their price target on shares of ConocoPhillips from $114.00 to $113.00 and set a "positive" rating on the stock in a research note on Wednesday. Finally, Barclays dropped their price target on shares of ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, ConocoPhillips has an average rating of "Moderate Buy" and an average price target of $121.33.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, EVP Kirk L. Johnson acquired 5,300 shares of the business's stock in a transaction dated Monday, June 16th. The stock was bought at an average price of $94.24 per share, with a total value of $499,472.00. Following the purchase, the executive vice president owned 14,527 shares of the company's stock, valued at approximately $1,369,024.48. This trade represents a 57.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.24% of the stock is owned by insiders.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock traded up $1.93 during trading on Wednesday, hitting $94.91. The stock had a trading volume of 3,060,763 shares, compared to its average volume of 7,618,429. The firm has a market cap of $119.98 billion, a price-to-earnings ratio of 12.06, a P/E/G ratio of 2.41 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's 50-day moving average is $91.03 and its 200 day moving average is $94.53. 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 quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.04. The firm had revenue of $16.18 billion for the quarter, compared to analysts' expectations 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 posted $2.05 earnings per share. As a group, sell-side analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date was Monday, May 19th. ConocoPhillips's payout ratio is 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.