BXM Wealth LLC Has $349,000 Stock Position in ConocoPhillips (NYSE:COP)

BXM Wealth LLC reduced its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 56.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,405 shares of the energy producer's stock after selling 4,440 shares during the quarter. BXM Wealth LLC's holdings in ConocoPhillips were worth $349,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of COP. Vanguard Group Inc. boosted its stake in ConocoPhillips by 11.7% in the fourth quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer's stock valued at $12,081,491,000 after buying an additional 12,751,120 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake 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 buying an additional 5,549,078 shares in the last quarter. Capital International Investors boosted its stake in ConocoPhillips by 4.9% in the fourth quarter. Capital International Investors now owns 31,287,113 shares of the energy producer's stock valued at $3,101,989,000 after buying an additional 1,473,027 shares in the last quarter. Geode Capital Management LLC boosted its stake in ConocoPhillips by 13.7% in the fourth quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer's stock valued at $2,792,521,000 after buying an additional 3,397,360 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in ConocoPhillips by 37.1% in the fourth quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer's stock valued at $1,544,101,000 after buying an additional 4,211,939 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Kirk L. Johnson acquired 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, for a total transaction of $499,472.00. Following the completion of the transaction, the executive vice president directly owned 14,527 shares of the company's stock, 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 this link. 0.24% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently weighed in on COP. Piper Sandler raised their price objective on ConocoPhillips from $107.00 to $113.00 and gave the company an "overweight" rating in a research note on Wednesday, July 2nd. Barclays reduced their price objective on ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. reduced their price objective on ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Citigroup dropped their target price on ConocoPhillips from $140.00 to $115.00 and set a "buy" rating for the company in a research report on Wednesday, June 11th. Finally, Morgan Stanley increased their target price on ConocoPhillips from $116.00 to $118.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $122.15.

ConocoPhillips Trading Up 0.3%

Shares of COP traded up $0.29 during mid-day trading on Friday, reaching $95.66. 4,903,410 shares of the company were exchanged, compared to its average volume of 7,648,450. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $118.40. 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 stock has a market capitalization of $120.93 billion, a PE ratio of 12.16, a PEG ratio of 2.57 and a beta of 0.61. The business has a 50 day simple moving average of $90.58 and a two-hundred day simple moving average of $94.77.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.05 by $0.04. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. The company had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. During the same period last year, the company earned $2.05 earnings per share. On average, analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business 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 of this dividend was Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.26%. ConocoPhillips's dividend payout ratio (DPR) is 39.64%.

ConocoPhillips Profile

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.