Parallel Advisors LLC Grows Position in ConocoPhillips (NYSE:COP)

Parallel Advisors LLC raised its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 13.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,063 shares of the energy producer's stock after acquiring an additional 3,979 shares during the period. Parallel Advisors LLC's holdings in ConocoPhillips were worth $3,577,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Murphy & Mullick Capital Management Corp acquired a new position in ConocoPhillips in the fourth quarter valued at about $26,000. Centricity Wealth Management LLC bought a new position in ConocoPhillips during the 4th quarter worth approximately $27,000. 10Elms LLP acquired a new position in ConocoPhillips during the fourth quarter valued at approximately $28,000. Crowley Wealth Management Inc. bought a new stake in ConocoPhillips in the fourth quarter valued at approximately $32,000. Finally, Marshall Investment Management LLC bought a new position in shares of ConocoPhillips during the fourth quarter worth $36,000. Institutional investors own 82.36% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on COP. Barclays dropped their target price on shares of ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Bank of America reduced their price objective on ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. JPMorgan Chase & Co. dropped their target price on ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Morgan Stanley boosted their price objective on shares of ConocoPhillips from $116.00 to $118.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Finally, Wells Fargo & Company decreased their target price on shares of ConocoPhillips from $116.00 to $113.00 and set an "overweight" rating for the company in a research report on Wednesday, May 14th. Three equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $121.63.

ConocoPhillips Stock Performance

Shares of COP stock traded down $1.68 on Wednesday, hitting $86.23. The company's stock had a trading volume of 2,987,311 shares, compared to its average volume of 7,377,428. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $118.40. The company has a market capitalization of $109.01 billion, a PE ratio of 11.07, a PEG ratio of 0.79 and a beta of 0.64. The stock's 50 day moving average is $89.83 and its 200-day moving average is $96.99. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29.

ConocoPhillips (NYSE:COP - Get Free Report) last posted 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 17.26% and a net margin of 16.23%. The firm had revenue of $16.18 billion for the quarter, compared to analyst estimates of $15.74 billion. During the same quarter last year, the company earned $2.05 EPS. Equities research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips's payout ratio is 39.64%.

ConocoPhillips 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.