ConocoPhillips (NYSE:COP) Shares Bought by Schwartz Investment Counsel Inc.

Schwartz Investment Counsel Inc. grew its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 159.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 48,800 shares of the energy producer's stock after purchasing an additional 30,000 shares during the period. Schwartz Investment Counsel Inc.'s holdings in ConocoPhillips were worth $5,125,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of ConocoPhillips by 445.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,139,209 shares of the energy producer's stock worth $116,116,000 after buying an additional 930,202 shares in the last quarter. Oakworth Capital Inc. boosted its position in shares of ConocoPhillips by 21.5% in the 1st quarter. Oakworth Capital Inc. now owns 2,569 shares of the energy producer's stock worth $270,000 after buying an additional 455 shares in the last quarter. Jaffetilchin Investment Partners LLC purchased a new stake in shares of ConocoPhillips in the 1st quarter worth about $736,000. Diversified Trust Co lifted its holdings in ConocoPhillips by 96.9% in the 1st quarter. Diversified Trust Co now owns 23,305 shares of the energy producer's stock valued at $2,447,000 after purchasing an additional 11,472 shares in the last quarter. Finally, Hidden Cove Wealth Management LLC purchased a new position in ConocoPhillips in the 1st quarter valued at about $202,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

COP has been the topic of a number of recent research reports. Scotiabank reduced their target price on shares of ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating on the stock in a report on Friday, April 11th. Raymond James Financial restated an "outperform" rating and issued a $109.00 target price (up from $103.00) on shares of ConocoPhillips in a report on Tuesday, May 20th. Susquehanna dropped their price objective on shares of ConocoPhillips from $120.00 to $114.00 and set a "positive" rating for the company in a research note on Monday, May 12th. Morgan Stanley upped their price objective on shares of ConocoPhillips from $116.00 to $118.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and set a $117.00 price objective (up previously from $113.00) on shares of ConocoPhillips in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $121.50.

Insiders Place Their Bets

In related news, EVP Kirk L. Johnson purchased 5,300 shares of the firm's stock in a transaction on Monday, June 16th. The stock was purchased at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the acquisition, the executive vice president now directly owns 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.24% of the stock is owned by company insiders.

ConocoPhillips Stock Down 0.8%

COP opened at $90.20 on Friday. The firm has a 50 day moving average price of $89.96 and a 200 day moving average price of $95.07. The company has a market cap of $114.03 billion, a PE ratio of 11.46, a price-to-earnings-growth ratio of 2.46 and a beta of 0.61. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $118.40. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.13 and a current ratio of 1.27.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.05 by $0.04. The firm had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. ConocoPhillips had a net margin of 16.02% and a return on equity of 16.54%. During the same quarter in the prior year, the company earned $2.05 EPS. Sell-side analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date was Monday, May 19th. ConocoPhillips's dividend payout ratio is presently 39.64%.

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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