ConocoPhillips (NYSE:COP) Shares Acquired by Heritage Wealth Advisors

Key Points

• Heritage Wealth Advisors increased its position in ConocoPhillips by 5.9%, now holding 444,823 shares valued at approximately $46.7 million, making it the firm's 16th largest holding.
• Several hedge funds significantly boosted their stakes in ConocoPhillips during the fourth quarter, with Invesco increasing its holdings by 37.1% and Adage Capital Partners by 116.5%.
• ConocoPhillips recently declared a quarterly dividend of $0.78 per share, yielding 3.3% annually, while analysts maintain a consensus target price of $121.33 for the stock.

Heritage Wealth Advisors boosted its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 5.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 444,823 shares of the energy producer's stock after acquiring an additional 24,864 shares during the period. ConocoPhillips accounts for about 2.4% of Heritage Wealth Advisors' holdings, making the stock its 16th biggest position. Heritage Wealth Advisors' holdings in ConocoPhillips were worth $46,715,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. MONECO Advisors LLC lifted its position in ConocoPhillips by 20.5% during the first quarter. MONECO Advisors LLC now owns 6,582 shares of the energy producer's stock valued at $691,000 after purchasing an additional 1,121 shares during the last quarter. EagleClaw Capital Managment LLC lifted its position in ConocoPhillips by 9.3% during the first quarter. EagleClaw Capital Managment LLC now owns 24,369 shares of the energy producer's stock valued at $2,559,000 after purchasing an additional 2,082 shares during the last quarter. Moors & Cabot Inc. lifted its position in ConocoPhillips by 4.0% during the first quarter. Moors & Cabot Inc. now owns 50,880 shares of the energy producer's stock valued at $5,343,000 after purchasing an additional 1,948 shares during the last quarter. ProVise Management Group LLC lifted its position in ConocoPhillips by 16.2% during the first quarter. ProVise Management Group LLC now owns 92,150 shares of the energy producer's stock valued at $9,678,000 after purchasing an additional 12,815 shares during the last quarter. Finally, Alberta Investment Management Corp bought a new stake in ConocoPhillips during the first quarter valued at approximately $3,229,000. Hedge funds and other institutional investors own 82.36% of the company's stock.

ConocoPhillips Stock Performance

ConocoPhillips stock traded down $2.59 during mid-day trading on Friday, hitting $92.75. The company had a trading volume of 6,348,613 shares, compared to its average volume of 5,417,085. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $116.08. The company has a market capitalization of $117.25 billion, a price-to-earnings ratio of 11.79, a P/E/G ratio of 2.41 and a beta of 0.67. The company has a current ratio of 1.27, a quick ratio of 1.13 and a debt-to-equity ratio of 0.36. The company's fifty day moving average is $91.97 and its 200-day moving average is $94.07.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results 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. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. The firm had revenue of $16.18 billion for the quarter, compared to analyst estimates of $15.74 billion. During the same quarter last year, the firm posted $2.05 EPS. Equities research analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips's dividend payout ratio (DPR) is presently 39.64%.

Analyst Upgrades and Downgrades

COP has been the subject of several research analyst reports. Royal Bank Of Canada dropped their target price on shares of ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating for the company in a research report on Friday, July 11th. Mizuho lowered 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. Bank of America lowered their price objective on shares of ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Raymond James Financial boosted their price objective on shares of ConocoPhillips from $109.00 to $117.00 and gave the stock an "outperform" rating in a report on Tuesday, July 22nd. Finally, Citigroup lowered their price objective on shares of ConocoPhillips from $140.00 to $115.00 and set a "buy" rating for the company in a report on Wednesday, June 11th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $121.33.

Insider Activity

In other ConocoPhillips news, EVP Kirk L. Johnson acquired 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 transaction, the executive vice president owned 14,527 shares of the company's stock, valued at $1,369,024.48. This trade represents a 57.44% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.24% of the company's stock.

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.