Miller Howard Investments Inc. NY Acquires 29,871 Shares of ConocoPhillips (NYSE:COP)

Miller Howard Investments Inc. NY increased its position in ConocoPhillips (NYSE:COP - Free Report) by 98.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 60,294 shares of the energy producer's stock after purchasing an additional 29,871 shares during the quarter. Miller Howard Investments Inc. NY's holdings in ConocoPhillips were worth $6,332,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in the business. Gray Wealth Management Inc. lifted its holdings in shares of ConocoPhillips by 5.0% during the fourth quarter. Gray Wealth Management Inc. now owns 2,171 shares of the energy producer's stock valued at $215,000 after purchasing an additional 104 shares during the last quarter. Plancorp LLC lifted its holdings in shares of ConocoPhillips by 2.7% during the fourth quarter. Plancorp LLC now owns 4,018 shares of the energy producer's stock valued at $399,000 after purchasing an additional 104 shares during the last quarter. Thompson Siegel & Walmsley LLC lifted its holdings in shares of ConocoPhillips by 3.7% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 2,912 shares of the energy producer's stock valued at $289,000 after purchasing an additional 105 shares during the last quarter. Councilmark Asset Management LLC lifted its holdings in shares of ConocoPhillips by 0.5% during the fourth quarter. Councilmark Asset Management LLC now owns 19,639 shares of the energy producer's stock valued at $1,948,000 after purchasing an additional 106 shares during the last quarter. Finally, Second Line Capital LLC lifted its holdings in shares of ConocoPhillips by 2.2% during the fourth quarter. Second Line Capital LLC now owns 4,990 shares of the energy producer's stock valued at $495,000 after purchasing an additional 108 shares during the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other ConocoPhillips news, EVP Kirk L. Johnson acquired 5,300 shares of the business's stock in a transaction dated Monday, June 16th. The stock was purchased at an average price of $94.24 per share, with a total value of $499,472.00. Following the transaction, the executive vice president directly owned 14,527 shares in the company, valued at approximately $1,369,024.48. The trade was 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 insiders.

ConocoPhillips Stock Performance

NYSE:COP traded down $0.16 during trading hours on Friday, reaching $94.28. The company had a trading volume of 4,331,501 shares, compared to its average volume of 7,600,427. The company has a current ratio of 1.27, a quick ratio of 1.13 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $118.40. The firm has a market cap of $119.19 billion, a price-to-earnings ratio of 11.98, a PEG ratio of 2.55 and a beta of 0.61. The firm's 50 day moving average price is $90.18 and its 200-day moving average price is $94.84.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its earnings results 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 net margin of 16.02% and a return on equity of 16.54%. The business had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. During the same quarter in the previous year, the firm posted $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 disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips's payout ratio is 39.64%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on COP shares. Barclays lowered their target price on shares of ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Susquehanna decreased their price objective on shares of ConocoPhillips from $120.00 to $114.00 and set a "positive" rating for the company in a report on Monday, May 12th. Citigroup decreased their price objective on shares of ConocoPhillips from $140.00 to $115.00 and set a "buy" rating for the company in a report on Wednesday, June 11th. Mizuho decreased their price objective on shares of ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Finally, Raymond James Financial restated an "outperform" rating and issued a $109.00 price objective (up from $103.00) on shares of ConocoPhillips in a report on Tuesday, May 20th. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus 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.