Larson Financial Group LLC grew its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 14.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,000 shares of the energy producer's stock after buying an additional 4,022 shares during the period. Larson Financial Group LLC's holdings in ConocoPhillips were worth $3,361,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Murphy & Mullick Capital Management Corp bought a new stake in shares of ConocoPhillips during the 4th quarter valued at $26,000. 10Elms LLP bought a new stake in shares of ConocoPhillips during the 4th quarter valued at $28,000. Crowley Wealth Management Inc. bought a new stake in shares of ConocoPhillips during the 4th quarter valued at $32,000. Garde Capital Inc. bought a new stake in shares of ConocoPhillips during the 1st quarter valued at $35,000. Finally, Fourth Dimension Wealth LLC purchased a new position in shares of ConocoPhillips in the 4th quarter worth about $39,000. Institutional investors own 82.36% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on the company. Piper Sandler reaffirmed an "overweight" rating and issued a $123.00 price target (up previously from $113.00) on shares of ConocoPhillips in a research report on Tuesday. Royal Bank Of Canada lowered their price target on ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating for the company in a research report on Friday, July 11th. Citigroup lowered 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. UBS Group lifted their price target on ConocoPhillips from $111.00 to $115.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Finally, Susquehanna lowered their price target on ConocoPhillips from $120.00 to $114.00 and set a "positive" rating for the company in a research report on Monday, May 12th. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $122.21.
Check Out Our Latest Stock Analysis on ConocoPhillips
Insider Activity
In other news, EVP Kirk L. Johnson purchased 5,300 shares of the business's stock in a transaction on Monday, June 16th. The stock was acquired at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the purchase, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.24% of the stock is currently owned by corporate insiders.
ConocoPhillips Stock Performance
NYSE:COP traded down $1.22 during mid-day trading on Friday, reaching $91.59. The company's stock had a trading volume of 5,490,165 shares, compared to its average volume of 7,631,332. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $118.40. The firm's fifty day moving average price is $90.97 and its two-hundred day moving average price is $94.66. 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 stock has a market cap of $115.79 billion, a P/E ratio of 11.65, a PEG ratio of 2.45 and a beta of 0.61.
ConocoPhillips (NYSE:COP - Get Free Report) last issued its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, topping analysts' consensus estimates of $2.05 by $0.04. The business had revenue of $16.18 billion during the quarter, compared to analyst estimates of $15.74 billion. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. During the same quarter in the previous year, the firm earned $2.05 EPS. On average, equities analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.
ConocoPhillips Announces Dividend
The company 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. The ex-dividend date of this dividend was Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.41%. ConocoPhillips's dividend payout ratio is currently 39.64%.
About ConocoPhillips
(
Free Report)
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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