ConocoPhillips (NYSE:COP) Shares Sold by Concord Wealth Partners

Concord Wealth Partners lessened its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 12.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 31,827 shares of the energy producer's stock after selling 4,557 shares during the period. Concord Wealth Partners' holdings in ConocoPhillips were worth $3,342,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its position in shares of ConocoPhillips by 13.8% during 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 acquiring an additional 5,549,078 shares in the last quarter. Elevation Point Wealth Partners LLC raised its position in shares of ConocoPhillips by 83.0% during 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 in the last quarter. Schwartz Investment Counsel Inc. grew its stake in ConocoPhillips by 159.6% during the 1st quarter. Schwartz Investment Counsel Inc. now owns 48,800 shares of the energy producer's stock worth $5,125,000 after buying an additional 30,000 shares during the last quarter. ORG Wealth Partners LLC grew its stake in ConocoPhillips by 853.3% during the 1st quarter. ORG Wealth Partners LLC now owns 6,616 shares of the energy producer's stock worth $698,000 after buying an additional 5,922 shares during the last quarter. Finally, Hennessy Advisors Inc. grew its stake in ConocoPhillips by 151.1% during the 1st quarter. Hennessy Advisors Inc. now owns 91,224 shares of the energy producer's stock worth $9,580,000 after buying an additional 54,900 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

ConocoPhillips Price Performance

Shares of NYSE COP traded down $1.06 during trading on Friday, reaching $91.75. The company had a trading volume of 7,967,743 shares, compared to its average volume of 7,640,115. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $118.40. The stock has a market capitalization of $115.99 billion, a PE ratio of 11.66, a price-to-earnings-growth ratio of 2.45 and a beta of 0.61. The stock has a 50-day moving average price of $90.97 and a two-hundred day moving average price of $94.66. 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 released its earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, beating the consensus estimate of $2.05 by $0.04. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. The firm had revenue of $16.18 billion during the quarter, compared to analyst estimates of $15.74 billion. During the same period in the prior year, the firm posted $2.05 earnings per share. As a group, sell-side analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

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

Insider Activity at ConocoPhillips

In other ConocoPhillips news, EVP Kirk L. Johnson purchased 5,300 shares of the business's stock in a transaction that occurred on Monday, June 16th. The shares were acquired at an average price 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 in the company, valued at $1,369,024.48. The trade was a 57.44% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.24% of the company's stock.

Wall Street Analysts Forecast Growth

COP has been the topic of a number of research reports. Wells Fargo & Company restated an "overweight" rating and set a $117.00 price target (up previously from $113.00) on shares of ConocoPhillips in a research note on Thursday, June 26th. Susquehanna dropped their price target on ConocoPhillips from $120.00 to $114.00 and set a "positive" rating on the stock in a research note on Monday, May 12th. Royal Bank Of Canada dropped their price target on ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating on the stock in a research note on Friday, July 11th. Mizuho dropped their price target on ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Finally, Scotiabank set a $100.00 target price on ConocoPhillips and gave the company a "sector perform" rating in a research note on Friday, July 11th. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $122.21.

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.