ConocoPhillips (NYSE:COP) Shares Acquired by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. increased its stake in ConocoPhillips by 6.9%, acquiring a total of 2.51 million shares worth approximately $263.69 million.
• ConocoPhillips reported earnings per share of $1.42 for the last quarter, surpassing analyst expectations, with quarterly revenue reaching $14.94 billion.
• The company announced a quarterly dividend of $0.78 per share, representing an annualized yield of 3.3%, to be paid on September 2nd.

Raymond James Financial Inc. increased its stake in ConocoPhillips (NYSE:COP - Free Report) by 6.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,510,865 shares of the energy producer's stock after purchasing an additional 162,786 shares during the quarter. Raymond James Financial Inc. owned about 0.20% of ConocoPhillips worth $263,691,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of COP. 10Elms LLP acquired a new stake in ConocoPhillips in the 4th quarter valued at about $28,000. Financial Network Wealth Advisors LLC lifted its holdings in ConocoPhillips by 341.5% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer's stock valued at $30,000 after acquiring an additional 222 shares during the last quarter. Stone House Investment Management LLC acquired a new stake in ConocoPhillips in the 1st quarter valued at about $31,000. Garde Capital Inc. acquired a new stake in ConocoPhillips in the 1st quarter valued at about $35,000. Finally, IMA Advisory Services Inc. acquired a new stake in ConocoPhillips in the 1st quarter valued at about $37,000. Institutional investors and hedge funds own 82.36% of the company's stock.

Wall Street Analyst Weigh In

COP has been the subject of a number of research analyst reports. Scotiabank upped their price target on shares of ConocoPhillips from $95.00 to $100.00 and gave the company a "sector perform" rating in a report on Friday, July 11th. Morgan Stanley restated an "overweight" rating and set a $123.00 price objective (up previously from $119.00) on shares of ConocoPhillips in a report on Sunday, August 10th. Wells Fargo & Company restated an "overweight" rating and set a $117.00 price objective (up previously from $113.00) on shares of ConocoPhillips in a report on Thursday, June 26th. Barclays cut their price objective on ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Finally, Roth Capital restated a "buy" rating and set a $108.00 price objective on shares of ConocoPhillips in a report on Thursday, August 7th. Two research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $120.84.

Insider Buying and Selling

In other news, EVP Kirk L. Johnson bought 5,300 shares of ConocoPhillips 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 completion of the transaction, the executive vice president directly owned 14,527 shares in the company, valued at $1,369,024.48. This trade represents a 57.44% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.24% of the stock is currently owned by company insiders.

ConocoPhillips Trading Down 0.3%

Shares of ConocoPhillips stock opened at $95.39 on Friday. The company's fifty day simple moving average is $93.61 and its 200-day simple moving average is $93.41. The company has a market cap of $119.14 billion, a price-to-earnings ratio of 12.80, a PEG ratio of 2.48 and a beta of 0.67. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $116.08.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.06. The business had revenue of $14.94 billion for the quarter, compared to the consensus estimate of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. ConocoPhillips's quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the company posted $1.98 earnings per share. As a group, sell-side analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 18th will be given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Monday, August 18th. ConocoPhillips's dividend payout ratio (DPR) is 41.88%.

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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