Wealthfront Advisers LLC Boosts Position in ConocoPhillips (NYSE:COP)

Wealthfront Advisers LLC raised its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 4.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 201,292 shares of the energy producer's stock after purchasing an additional 9,392 shares during the quarter. Wealthfront Advisers LLC's holdings in ConocoPhillips were worth $21,140,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Pinkerton Retirement Specialists LLC increased its position in ConocoPhillips by 6.4% during the first quarter. Pinkerton Retirement Specialists LLC now owns 41,797 shares of the energy producer's stock valued at $4,390,000 after acquiring an additional 2,496 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in ConocoPhillips by 812.0% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 127,811 shares of the energy producer's stock worth $13,423,000 after acquiring an additional 113,797 shares during the period. Whittier Trust Co. lifted its stake in ConocoPhillips by 1,122.6% in the first quarter. Whittier Trust Co. now owns 249,823 shares of the energy producer's stock worth $26,236,000 after acquiring an additional 229,390 shares during the period. Prevail Innovative Wealth Advisors LLC lifted its stake in ConocoPhillips by 2.8% in the first quarter. Prevail Innovative Wealth Advisors LLC now owns 57,281 shares of the energy producer's stock worth $6,016,000 after acquiring an additional 1,576 shares during the period. Finally, Asahi Life Asset Management CO. LTD. lifted its stake in ConocoPhillips by 151.4% in the first quarter. Asahi Life Asset Management CO. LTD. now owns 5,380 shares of the energy producer's stock worth $565,000 after acquiring an additional 3,240 shares during the period. Hedge funds and other institutional investors own 82.36% of the company's stock.

ConocoPhillips Stock Performance

Shares of NYSE COP traded down $0.64 during midday trading on Wednesday, reaching $91.91. 1,638,682 shares of the stock were exchanged, compared to its average volume of 7,624,887. The firm has a market cap of $116.19 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 2.54 and a beta of 0.61. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $118.40. The firm has a 50-day simple moving average of $90.82 and a two-hundred day simple moving average of $94.71. 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 (NYSE:COP - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $16.18 billion for the quarter, compared to analysts' expectations of $15.74 billion. During the same quarter last year, the company earned $2.05 EPS. As a group, analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were paid a $0.78 dividend. The ex-dividend date was Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a yield of 3.39%. ConocoPhillips's dividend payout ratio is currently 39.64%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. UBS Group upped their price objective on shares of ConocoPhillips from $111.00 to $115.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. 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. Barclays decreased their price target on shares of ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Royal Bank Of Canada decreased their price target on shares of ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating for the company in a research report on Friday, July 11th. Finally, Piper Sandler reissued an "overweight" rating and set a $123.00 price target (up from $113.00) on shares of ConocoPhillips in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $122.70.

Insider Transactions at ConocoPhillips

In other news, EVP Kirk L. Johnson acquired 5,300 shares of the firm's stock in a transaction on Monday, June 16th. The shares were bought at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the acquisition, the executive vice president 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 hyperlink. Corporate insiders own 0.24% of the company's stock.

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.