Choreo LLC Increases Stock Holdings in ConocoPhillips (NYSE:COP)

Choreo LLC boosted its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 7.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 62,752 shares of the energy producer's stock after buying an additional 4,160 shares during the quarter. Choreo LLC's holdings in ConocoPhillips were worth $6,590,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in COP. Price T Rowe Associates Inc. MD grew its stake in shares of ConocoPhillips by 13.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer's stock worth $4,546,706,000 after buying an additional 5,549,078 shares in the last quarter. Elevation Point Wealth Partners LLC lifted its holdings in shares of ConocoPhillips by 83.0% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 18,060 shares of the energy producer's stock worth $1,897,000 after acquiring an additional 8,189 shares during the last quarter. Schwartz Investment Counsel Inc. lifted its holdings in shares of ConocoPhillips by 159.6% in the 1st quarter. Schwartz Investment Counsel Inc. now owns 48,800 shares of the energy producer's stock worth $5,125,000 after acquiring an additional 30,000 shares during the last quarter. ORG Wealth Partners LLC lifted its holdings in shares of ConocoPhillips by 853.3% in the 1st quarter. ORG Wealth Partners LLC now owns 6,616 shares of the energy producer's stock worth $698,000 after acquiring an additional 5,922 shares during the last quarter. Finally, Hennessy Advisors Inc. lifted its holdings in shares of ConocoPhillips by 151.1% in the 1st quarter. Hennessy Advisors Inc. now owns 91,224 shares of the energy producer's stock worth $9,580,000 after acquiring an additional 54,900 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Trading Down 0.4%

Shares of COP traded down $0.42 during mid-day trading on Friday, reaching $95.20. The stock had a trading volume of 2,469,670 shares, compared to its average volume of 8,246,939. 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 52-week low of $79.88 and a 52-week high of $116.08. The business's fifty day moving average is $91.09 and its 200 day moving average is $94.43. The firm has a market cap of $120.34 billion, a price-to-earnings ratio of 12.11, a P/E/G ratio of 2.47 and a beta of 0.61.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.04. The business 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 company earned $2.05 earnings per share. On average, sell-side analysts predict 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 given a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $3.12 annualized dividend and a dividend yield of 3.28%. ConocoPhillips's dividend payout ratio is presently 39.64%.

Insider Activity

In other news, EVP Kirk L. Johnson bought 5,300 shares of the business's stock in a transaction that occurred on Monday, June 16th. The shares were purchased 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 of the company's stock, valued at approximately $1,369,024.48. This represents a 57.44% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.24% of the company's stock.

Wall Street Analyst Weigh In

COP has been the topic of a number of research reports. Citigroup cut their target price on shares of ConocoPhillips from $140.00 to $115.00 and set a "buy" rating on the stock in a research report on Wednesday, June 11th. Morgan Stanley reaffirmed an "overweight" rating and issued a $119.00 price objective on shares of ConocoPhillips in a research report on Tuesday, July 15th. Scotiabank lifted their price objective on shares of ConocoPhillips from $95.00 to $100.00 and gave the stock a "sector perform" rating in a research report on Friday, July 11th. Wells Fargo & Company reissued an "overweight" rating and set a $117.00 target price (up previously from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. Finally, UBS Group lifted their price objective on shares of ConocoPhillips from $111.00 to $115.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, ConocoPhillips has a consensus rating of "Moderate Buy" and a consensus target price of $121.33.

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.