Garrett Wealth Advisory Group LLC Has $848,000 Stake in ConocoPhillips (NYSE:COP)

Garrett Wealth Advisory Group LLC lifted its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 57.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,072 shares of the energy producer's stock after buying an additional 2,959 shares during the period. Garrett Wealth Advisory Group LLC's holdings in ConocoPhillips were worth $848,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of ConocoPhillips by 11.7% during the 4th quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer's stock worth $12,081,491,000 after purchasing an additional 12,751,120 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of ConocoPhillips by 13.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer's stock worth $4,546,706,000 after purchasing an additional 5,549,078 shares in the last quarter. Invesco Ltd. increased its stake in shares of ConocoPhillips by 37.1% during the 4th quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer's stock worth $1,544,101,000 after purchasing an additional 4,211,939 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of ConocoPhillips by 13.7% during the 4th quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer's stock worth $2,792,521,000 after purchasing an additional 3,397,360 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of ConocoPhillips by 27.6% during the 4th quarter. Northern Trust Corp now owns 13,757,835 shares of the energy producer's stock worth $1,364,364,000 after purchasing an additional 2,971,661 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

Insiders Place Their Bets

In other ConocoPhillips news, EVP Kirk L. Johnson purchased 5,300 shares of the company'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 acquisition, the executive vice president directly owned 14,527 shares of the company's stock, valued at approximately $1,369,024.48. This trade represents a 57.44% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.24% of the stock is owned by corporate insiders.

ConocoPhillips Stock Performance

Shares of COP stock traded up $3.16 during mid-day trading on Tuesday, reaching $95.71. The stock had a trading volume of 12,812,202 shares, compared to its average volume of 7,630,034. The firm's 50 day simple moving average is $90.22 and its 200 day simple moving average is $94.78. The company has a quick ratio of 1.13, a current ratio of 1.27 and a debt-to-equity ratio of 0.36. ConocoPhillips has a one year low of $79.88 and a one year high of $118.40. The firm has a market cap of $120.99 billion, a PE ratio of 12.16, a P/E/G ratio of 2.53 and a beta of 0.61.

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

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a yield of 3.26%. ConocoPhillips's dividend payout ratio is 39.64%.

Analyst Upgrades and Downgrades

COP has been the topic of a number of analyst reports. JPMorgan Chase & Co. decreased their target price on shares of ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Wells Fargo & Company reissued an "overweight" rating and set a $117.00 price target (up from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. Raymond James Financial restated an "outperform" rating and set a $109.00 price objective (up from $103.00) on shares of ConocoPhillips in a report on Tuesday, May 20th. Barclays lowered their price target on ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Finally, Citigroup reduced their price target on ConocoPhillips from $140.00 to $115.00 and set a "buy" rating for the company in a research report on Wednesday, June 11th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $121.80.

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.