ConocoPhillips (NYSE:COP) Stake Boosted by Sovran Advisors LLC

Sovran Advisors LLC boosted its position in ConocoPhillips (NYSE:COP - Free Report) by 77.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,852 shares of the energy producer's stock after purchasing an additional 6,498 shares during the quarter. Sovran Advisors LLC's holdings in ConocoPhillips were worth $1,560,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in COP. Murphy & Mullick Capital Management Corp purchased a new stake in ConocoPhillips in the 4th quarter worth approximately $26,000. 10Elms LLP acquired 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 valued at about $32,000. Garde Capital Inc. purchased a new stake in ConocoPhillips in the 1st quarter valued at about $35,000. Finally, Rakuten Securities Inc. increased its stake in shares of ConocoPhillips by 222.0% during the 4th quarter. Rakuten Securities Inc. now owns 380 shares of the energy producer's stock valued at $38,000 after acquiring an additional 262 shares during the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on COP shares. Mizuho decreased their target price on shares of ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Raymond James Financial reiterated an "outperform" rating and issued a $109.00 price target (up previously from $103.00) on shares of ConocoPhillips in a report on Tuesday, May 20th. Royal Bank Of Canada lowered their price objective on shares of ConocoPhillips from $120.00 to $115.00 and set an "outperform" rating for the company in a research note on Friday, May 30th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $117.00 target price (up from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. Finally, JPMorgan Chase & Co. lowered their price target on ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, ConocoPhillips currently has a consensus rating of "Moderate Buy" and an average target price of $121.80.

ConocoPhillips Stock Up 2.5%

NYSE:COP traded up $2.33 on Wednesday, reaching $94.32. The stock had a trading volume of 9,233,814 shares, compared to its average volume of 7,576,626. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $118.40. The stock has a market cap of $119.24 billion, a P/E ratio of 11.98, a price-to-earnings-growth ratio of 2.43 and a beta of 0.62. 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 has a 50-day moving average of $90.04 and a 200 day moving average of $94.88.

ConocoPhillips (NYSE:COP - Get Free Report) last released its earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, beating the consensus estimate of $2.05 by $0.04. The company had revenue of $16.18 billion during 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 prior year, the business posted $2.05 EPS. On average, research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.31%. The ex-dividend date was Monday, May 19th. ConocoPhillips's dividend payout ratio is currently 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 dated Monday, June 16th. The stock was bought at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the transaction, the executive vice president owned 14,527 shares in the company, valued at $1,369,024.48. The trade was a 57.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 0.24% of the stock is currently owned by corporate insiders.

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.