ConocoPhillips (NYSE:COP) Position Raised by Advisory Resource Group

Advisory Resource Group grew its stake in ConocoPhillips (NYSE:COP - Free Report) by 5.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 229,588 shares of the energy producer's stock after buying an additional 12,172 shares during the period. ConocoPhillips accounts for 4.9% of Advisory Resource Group's investment portfolio, making the stock its 3rd largest holding. Advisory Resource Group's holdings in ConocoPhillips were worth $24,111,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of COP. Silver Oak Securities Incorporated increased its holdings in shares of ConocoPhillips by 28.3% in the 1st quarter. Silver Oak Securities Incorporated now owns 2,676 shares of the energy producer's stock valued at $274,000 after purchasing an additional 591 shares in the last quarter. ORG Wealth Partners LLC raised its holdings in ConocoPhillips by 853.3% in the first quarter. ORG Wealth Partners LLC now owns 6,616 shares of the energy producer's stock valued at $698,000 after buying an additional 5,922 shares during the period. Plimoth Trust Co. LLC raised its stake in shares of ConocoPhillips by 20.0% during the first quarter. Plimoth Trust Co. LLC now owns 4,192 shares of the energy producer's stock valued at $440,000 after purchasing an additional 700 shares during the period. State of Alaska Department of Revenue lifted its position in shares of ConocoPhillips by 0.8% during the first quarter. State of Alaska Department of Revenue now owns 256,021 shares of the energy producer's stock worth $26,886,000 after purchasing an additional 2,035 shares in the last quarter. Finally, CWA Asset Management Group LLC raised its holdings in ConocoPhillips by 59.7% in the first quarter. CWA Asset Management Group LLC now owns 5,587 shares of the energy producer's stock valued at $587,000 after acquiring an additional 2,089 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

ConocoPhillips Price Performance

COP stock opened at $93.77 on Thursday. The firm has a 50 day moving average of $89.27 and a 200-day moving average of $95.68. 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 12 month low of $79.88 and a 12 month high of $118.40. The firm has a market capitalization of $118.54 billion, a P/E ratio of 11.91, a price-to-earnings-growth ratio of 2.58 and a beta of 0.61.

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 the consensus estimate of $2.05 by $0.04. ConocoPhillips had a net margin of 16.02% and a return on equity of 16.54%. The business had revenue of $16.18 billion during the quarter, compared to analyst estimates of $15.74 billion. During the same period in the previous year, the business 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 fiscal year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips's dividend payout ratio (DPR) is presently 39.64%.

Insiders Place Their Bets

In other news, EVP Kirk L. Johnson bought 5,300 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were bought at an average cost of $94.24 per share, with a total value of $499,472.00. Following the completion of the purchase, the executive vice president now directly owns 14,527 shares in the company, valued at $1,369,024.48. This represents a 57.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.24% of the company's stock.

Wall Street Analysts Forecast Growth

COP has been the subject of several recent research reports. UBS Group lowered their target price on shares of ConocoPhillips from $116.00 to $111.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. JPMorgan Chase & Co. dropped their price objective on ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Wells Fargo & Company cut their price objective on ConocoPhillips from $116.00 to $113.00 and set an "overweight" rating for the company in a research report on Wednesday, May 14th. Piper Sandler cut their price target on ConocoPhillips from $114.00 to $107.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Finally, Scotiabank lowered their price objective on ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating on the stock in a research note on Friday, April 11th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $121.30.

About ConocoPhillips

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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