Concurrent Investment Advisors LLC Buys 3,051 Shares of ConocoPhillips (NYSE:COP)

Concurrent Investment Advisors LLC boosted its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 5.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 62,102 shares of the energy producer's stock after buying an additional 3,051 shares during the quarter. Concurrent Investment Advisors LLC's holdings in ConocoPhillips were worth $6,522,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of COP. Murphy & Mullick Capital Management Corp purchased a new stake in ConocoPhillips in the 4th quarter worth about $26,000. 10Elms LLP purchased a new stake in ConocoPhillips in the 4th quarter worth about $28,000. Crowley Wealth Management Inc. purchased a new stake in ConocoPhillips in the 4th quarter worth about $32,000. Garde Capital Inc. purchased a new stake in ConocoPhillips in the 1st quarter worth about $35,000. Finally, Rakuten Securities Inc. lifted its stake in ConocoPhillips by 222.0% in the 4th quarter. Rakuten Securities Inc. now owns 380 shares of the energy producer's stock worth $38,000 after acquiring an additional 262 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

Insider Activity

In other news, EVP Kirk L. Johnson acquired 5,300 shares of the stock in a transaction dated Monday, June 16th. The shares were acquired 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 owned 14,527 shares in the company, valued at approximately $1,369,024.48. This trade represents a 57.44% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.24% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on COP. Wells Fargo & Company reissued an "overweight" rating and issued a $117.00 price objective (up from $113.00) on shares of ConocoPhillips in a research note on Thursday, June 26th. Susquehanna cut their price target on ConocoPhillips from $120.00 to $114.00 and set a "positive" rating for the company in a research note on Monday, May 12th. Piper Sandler raised their price target on ConocoPhillips from $107.00 to $113.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 2nd. Raymond James Financial reaffirmed an "outperform" rating and set a $109.00 price target (up from $103.00) on shares of ConocoPhillips in a research note on Tuesday, May 20th. Finally, Citigroup cut their price target on ConocoPhillips from $140.00 to $115.00 and set a "buy" rating for the company in a research note on Wednesday, June 11th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, ConocoPhillips has an average rating of "Moderate Buy" and an average target price of $121.80.

ConocoPhillips Stock Performance

COP traded up $4.31 during midday trading on Tuesday, reaching $96.86. The company's stock had a trading volume of 4,113,738 shares, compared to its average volume of 7,595,668. The stock has a market cap of $122.45 billion, a P/E ratio of 12.31, a PEG ratio of 2.53 and a beta of 0.61. 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 has a twelve month low of $79.88 and a twelve month high of $118.40. The company has a fifty day simple moving average of $90.22 and a 200 day simple moving average of $94.78.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 return on equity of 16.54% and a net margin of 16.02%. During the same period in the previous year, the business posted $2.05 earnings per share. Research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company 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. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips's dividend payout ratio is presently 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.