KLP Kapitalforvaltning AS Buys 7,600 Shares of ConocoPhillips (NYSE:COP)

KLP Kapitalforvaltning AS lifted its stake in ConocoPhillips (NYSE:COP - Free Report) by 1.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 558,142 shares of the energy producer's stock after acquiring an additional 7,600 shares during the period. KLP Kapitalforvaltning AS's holdings in ConocoPhillips were worth $58,616,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in COP. Murphy & Mullick Capital Management Corp acquired a new position in shares of ConocoPhillips during the 4th quarter valued at $26,000. 10Elms LLP acquired a new position in ConocoPhillips during the fourth quarter worth about $28,000. Crowley Wealth Management Inc. bought a new stake in ConocoPhillips in the fourth quarter worth about $32,000. Garde Capital Inc. bought a new stake in ConocoPhillips in the first quarter worth about $35,000. Finally, Fourth Dimension Wealth LLC acquired a new stake in ConocoPhillips in the 4th quarter valued at about $39,000. 82.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

COP has been the subject of several recent research reports. Barclays cut their target price on shares of ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Bank of America cut their price objective on ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Raymond James Financial raised their price objective on ConocoPhillips from $109.00 to $117.00 and gave the stock an "outperform" rating in a research note on Tuesday. UBS Group boosted their target price on ConocoPhillips from $111.00 to $115.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $119.00 target price on shares of ConocoPhillips in a report on Tuesday, July 15th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $121.33.

Insider Transactions at ConocoPhillips

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. 0.24% of the stock is owned by corporate insiders.

ConocoPhillips Stock Up 0.7%

Shares of NYSE:COP traded up $0.66 on Thursday, reaching $95.70. The company had a trading volume of 5,047,133 shares, compared to its average volume of 8,289,438. The company has a quick ratio of 1.13, a current ratio of 1.27 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $120.98 billion, a P/E ratio of 12.16, a P/E/G ratio of 2.46 and a beta of 0.61. The stock has a 50-day moving average price of $91.03 and a 200 day moving average price of $94.46. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $116.08.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, topping 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 firm had revenue of $16.18 billion for the quarter, compared to the consensus estimate of $15.74 billion. During the same quarter last year, the firm posted $2.05 EPS. On average, equities analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were given a $0.78 dividend. The ex-dividend date was Monday, May 19th. This represents a $3.12 annualized dividend and a yield of 3.26%. ConocoPhillips's dividend payout ratio is 39.64%.

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.