Adams Natural Resources Fund Inc. Sells 19,600 Shares of ConocoPhillips (NYSE:COP)

Adams Natural Resources Fund Inc. cut its holdings in ConocoPhillips (NYSE:COP - Free Report) by 4.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 389,103 shares of the energy producer's stock after selling 19,600 shares during the period. ConocoPhillips comprises approximately 5.2% of Adams Natural Resources Fund Inc.'s holdings, making the stock its 7th biggest position. Adams Natural Resources Fund Inc.'s holdings in ConocoPhillips were worth $40,864,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of COP. Price T Rowe Associates Inc. MD increased its holdings in shares of ConocoPhillips by 13.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer's stock worth $4,546,706,000 after acquiring an additional 5,549,078 shares during the period. Elevation Point Wealth Partners LLC grew its position in ConocoPhillips by 83.0% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 18,060 shares of the energy producer's stock worth $1,897,000 after purchasing an additional 8,189 shares during the last quarter. Hennessy Advisors Inc. increased its stake in shares of ConocoPhillips by 151.1% in the first quarter. Hennessy Advisors Inc. now owns 91,224 shares of the energy producer's stock valued at $9,580,000 after purchasing an additional 54,900 shares during the period. ORG Wealth Partners LLC raised its holdings in shares of ConocoPhillips by 853.3% during the first quarter. ORG Wealth Partners LLC now owns 6,616 shares of the energy producer's stock valued at $698,000 after buying an additional 5,922 shares during the last quarter. Finally, NJ State Employees Deferred Compensation Plan boosted its position in shares of ConocoPhillips by 20.4% during the fourth quarter. NJ State Employees Deferred Compensation Plan now owns 30,100 shares of the energy producer's stock worth $2,985,000 after buying an additional 5,100 shares during the period. Institutional investors own 82.36% of the company's stock.

ConocoPhillips Price Performance

NYSE:COP traded down $0.69 during trading hours on Friday, reaching $90.20. 7,553,864 shares of the company's stock were exchanged, compared to its average volume of 7,540,795. The company has a quick ratio of 1.13, a current ratio of 1.27 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $114.03 billion, a P/E ratio of 11.46, a price-to-earnings-growth ratio of 2.46 and a beta of 0.61. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $118.40. The business's 50-day simple moving average is $89.96 and its two-hundred day simple moving average is $95.07.

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

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.46%. The ex-dividend date was Monday, May 19th. ConocoPhillips's payout ratio is 39.64%.

Analysts Set New Price Targets

Several analysts recently commented on COP shares. Barclays lowered their target price on ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. lowered their price target on ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Piper Sandler cut their price objective on shares of ConocoPhillips from $114.00 to $107.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. Scotiabank reduced their price objective on shares of ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating for the company in a report on Friday, April 11th. Finally, Citigroup lowered their target price on shares of ConocoPhillips from $140.00 to $115.00 and set a "buy" rating on the stock in a research note on Wednesday, June 11th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $121.50.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, EVP Kirk L. Johnson bought 5,300 shares of the stock in a transaction on Monday, June 16th. The shares were bought at an average price of $94.24 per share, with a total value of $499,472.00. Following the purchase, 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 position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.24% of the company's stock.

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.