Colonial River Investments LLC Buys Shares of 4,363 ConocoPhillips (NYSE:COP)

Colonial River Investments LLC bought a new stake in shares of ConocoPhillips (NYSE:COP - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,363 shares of the energy producer's stock, valued at approximately $458,000.

Several other hedge funds also recently bought and sold shares of the company. Murphy & Mullick Capital Management Corp purchased a new stake in ConocoPhillips in the fourth quarter worth approximately $26,000. 10Elms LLP purchased a new stake in ConocoPhillips in the fourth quarter worth $28,000. Crowley Wealth Management Inc. purchased a new stake in shares of ConocoPhillips in the 4th quarter worth about $32,000. Garde Capital Inc. purchased a new stake in ConocoPhillips in the first quarter worth about $35,000. Finally, Rakuten Securities Inc. lifted its holdings in ConocoPhillips by 222.0% in the fourth quarter. Rakuten Securities Inc. now owns 380 shares of the energy producer's stock worth $38,000 after buying an additional 262 shares during the period. Hedge funds and other institutional investors own 82.36% of the company's stock.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, EVP Kirk L. Johnson bought 5,300 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was purchased at an average cost of $94.24 per share, with a total value of $499,472.00. Following the completion of the acquisition, the executive vice president now owns 14,527 shares in the company, valued at $1,369,024.48. This trade represents a 57.44% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.24% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on COP shares. Scotiabank lowered their target price on ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating for the company in a research note on Friday, April 11th. Barclays lowered their price target on shares of ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Susquehanna lowered their target price on shares of ConocoPhillips from $120.00 to $114.00 and set a "positive" rating for the company in a report on Monday, May 12th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $117.00 price target (up previously from $113.00) on shares of ConocoPhillips in a research report on Thursday. Finally, Mizuho decreased their price objective on shares of ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, ConocoPhillips currently has a consensus rating of "Moderate Buy" and a consensus price target of $121.50.

ConocoPhillips Stock Down 0.8%

Shares of COP stock opened at $90.20 on Friday. The company has a 50 day simple moving average of $89.96 and a two-hundred day simple moving average of $95.07. The stock has a market cap of $114.03 billion, a P/E ratio of 11.46, a P/E/G ratio of 2.46 and a beta of 0.61. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $118.40. 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 issued its quarterly earnings results 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 business had revenue of $16.18 billion during the quarter, compared to analyst estimates of $15.74 billion. During the same quarter in the prior year, the business posted $2.05 EPS. On average, research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.46%. The ex-dividend date was Monday, May 19th. ConocoPhillips's dividend payout ratio is currently 39.64%.

ConocoPhillips Company 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.

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