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Bridgewater Advisors Inc. Invests $365,000 in ConocoPhillips (NYSE:COP)

ConocoPhillips logo with Energy background

Bridgewater Advisors Inc. purchased a new stake in shares of ConocoPhillips (NYSE:COP - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 3,474 shares of the energy producer's stock, valued at approximately $365,000.

A number of other hedge funds have also bought and sold shares of COP. Tectonic Advisors LLC boosted its holdings in shares of ConocoPhillips by 12.3% in the 1st quarter. Tectonic Advisors LLC now owns 6,943 shares of the energy producer's stock valued at $729,000 after acquiring an additional 763 shares during the last quarter. Larson Financial Group LLC boosted its holdings in shares of ConocoPhillips by 14.4% in the 1st quarter. Larson Financial Group LLC now owns 32,000 shares of the energy producer's stock valued at $3,361,000 after acquiring an additional 4,022 shares during the last quarter. PAX Financial Group LLC boosted its holdings in shares of ConocoPhillips by 10.2% in the 1st quarter. PAX Financial Group LLC now owns 3,162 shares of the energy producer's stock valued at $332,000 after acquiring an additional 293 shares during the last quarter. Wealthfront Advisers LLC boosted its holdings in shares of ConocoPhillips by 4.9% in the 1st quarter. Wealthfront Advisers LLC now owns 201,292 shares of the energy producer's stock valued at $21,140,000 after acquiring an additional 9,392 shares during the last quarter. Finally, Pinkerton Retirement Specialists LLC boosted its holdings in shares of ConocoPhillips by 6.4% in the 1st quarter. Pinkerton Retirement Specialists LLC now owns 41,797 shares of the energy producer's stock valued at $4,390,000 after acquiring an additional 2,496 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

ConocoPhillips Price Performance

Shares of COP traded down $1.06 during mid-day trading on Friday, hitting $91.75. 7,967,732 shares of the company were exchanged, compared to its average volume of 8,372,265. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $117.32. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.13 and a current ratio of 1.27. The company has a 50 day moving average of $90.97 and a 200-day moving average of $94.66. The stock has a market cap of $115.99 billion, a price-to-earnings ratio of 11.66, a price-to-earnings-growth ratio of 2.45 and a beta of 0.61.

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. ConocoPhillips had a net margin of 16.02% and a return on equity of 16.54%. The firm had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. During the same quarter in the prior year, the firm earned $2.05 EPS. Analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips's dividend payout ratio is currently 39.64%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on COP shares. Scotiabank set a $100.00 price objective on shares of ConocoPhillips and gave the company a "sector perform" rating in a report on Friday, July 11th. Raymond James Financial reissued an "outperform" rating and set a $109.00 price target (up from $103.00) on shares of ConocoPhillips in a report on Tuesday, May 20th. Susquehanna lowered their price target on shares of ConocoPhillips from $120.00 to $114.00 and set a "positive" rating on the stock in a report on Monday, May 12th. Piper Sandler reissued an "overweight" rating and set a $123.00 price target (up from $113.00) on shares of ConocoPhillips in a report on Tuesday. Finally, Royal Bank Of Canada lowered their price target on shares of ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating on the stock in a report on Friday, July 11th. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $122.21.

Get Our Latest Stock Analysis on COP

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, EVP Kirk L. Johnson purchased 5,300 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were purchased at an average cost of $94.24 per share, with a total value of $499,472.00. Following the completion of the purchase, the executive vice president owned 14,527 shares in the company, valued at approximately $1,369,024.48. This represents a 57.44% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.24% of the company's stock.

ConocoPhillips Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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