Commonwealth Equity Services LLC Purchases 68,632 Shares of ConocoPhillips (NYSE:COP)

Key Points

• Commonwealth Equity Services LLC increased its holdings in ConocoPhillips by 17.1% in Q1, acquiring an additional 68,632 shares, bringing their total to 468,942 shares valued at approximately $49.2 million.
• Brokerages have adjusted price targets for ConocoPhillips, with Mizuho lowering its target from $127.00 to $125.00, while UBS Group raised its target from $111.00 to $115.00, reflecting mixed sentiments among analysts.
• ConocoPhillips recently announced a quarterly dividend of $0.78 per share, representing an annual yield of 3.4% and a payout ratio of 39.64%.

Commonwealth Equity Services LLC grew its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 17.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 468,942 shares of the energy producer's stock after buying an additional 68,632 shares during the quarter. Commonwealth Equity Services LLC's holdings in ConocoPhillips were worth $49,248,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in COP. 10Elms LLP acquired a new position in shares of ConocoPhillips during the fourth quarter worth approximately $28,000. Garde Capital Inc. acquired a new position in shares of ConocoPhillips during the first quarter worth approximately $35,000. IMA Advisory Services Inc. acquired a new position in shares of ConocoPhillips during the first quarter worth approximately $37,000. Fourth Dimension Wealth LLC acquired a new position in shares of ConocoPhillips during the fourth quarter worth approximately $39,000. Finally, MorganRosel Wealth Management LLC acquired a new position in shares of ConocoPhillips during the first quarter worth approximately $42,000. 82.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on COP. Mizuho reduced their target price on shares of ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. UBS Group increased their price objective on shares of ConocoPhillips from $111.00 to $115.00 and gave the company a "buy" rating in a report on Friday, July 11th. Citigroup cut their price objective on shares of ConocoPhillips from $140.00 to $115.00 and set a "buy" rating on the stock in a report on Wednesday, June 11th. Scotiabank increased their price objective on shares of ConocoPhillips from $95.00 to $100.00 and gave the company a "sector perform" rating in a report on Friday, July 11th. Finally, Barclays cut their price objective on shares of ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, ConocoPhillips presently has an average rating of "Moderate Buy" and a consensus price target of $121.33.

Insiders Place Their Bets

In other ConocoPhillips news, EVP Kirk L. Johnson bought 5,300 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The stock was acquired at an average price of $94.24 per share, with a total value of $499,472.00. Following the completion of the transaction, the executive vice president owned 14,527 shares in the company, valued at approximately $1,369,024.48. This trade 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. Company insiders own 0.24% of the company's stock.

ConocoPhillips Stock Up 0.1%

Shares of COP stock opened at $92.82 on Tuesday. The firm has a fifty day moving average of $92.12 and a 200-day moving average of $93.90. The company has a quick ratio of 1.13, a current ratio of 1.27 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $116.08. The company has a market capitalization of $117.34 billion, a price-to-earnings ratio of 11.79, a P/E/G ratio of 2.41 and a beta of 0.67.

ConocoPhillips (NYSE:COP - Get Free Report) last released its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, beating analysts' consensus estimates of $2.05 by $0.04. The business had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. ConocoPhillips had a net margin of 16.02% and a return on equity of 16.54%. During the same quarter last year, the firm earned $2.05 earnings per share. As a group, equities research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal 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 $0.78 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a yield of 3.4%. 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.

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