49 Wealth Management LLC Has $1 Million Stock Position in ConocoPhillips (NYSE:COP)

49 Wealth Management LLC raised its stake in ConocoPhillips (NYSE:COP - Free Report) by 78.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,521 shares of the energy producer's stock after buying an additional 4,196 shares during the quarter. 49 Wealth Management LLC's holdings in ConocoPhillips were worth $1,000,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Gray Wealth Management Inc. increased its stake in shares of ConocoPhillips by 5.0% during the 4th quarter. Gray Wealth Management Inc. now owns 2,171 shares of the energy producer's stock worth $215,000 after purchasing an additional 104 shares during the last quarter. Plancorp LLC increased its stake in shares of ConocoPhillips by 2.7% during the 4th quarter. Plancorp LLC now owns 4,018 shares of the energy producer's stock worth $399,000 after purchasing an additional 104 shares during the last quarter. Thompson Siegel & Walmsley LLC increased its stake in shares of ConocoPhillips by 3.7% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 2,912 shares of the energy producer's stock worth $289,000 after purchasing an additional 105 shares during the last quarter. Councilmark Asset Management LLC increased its stake in shares of ConocoPhillips by 0.5% during the 4th quarter. Councilmark Asset Management LLC now owns 19,639 shares of the energy producer's stock worth $1,948,000 after purchasing an additional 106 shares during the last quarter. Finally, Second Line Capital LLC increased its stake in shares of ConocoPhillips by 2.2% during the 4th quarter. Second Line Capital LLC now owns 4,990 shares of the energy producer's stock worth $495,000 after purchasing an additional 108 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on COP shares. Barclays dropped their price target on shares of ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. decreased their price objective on shares of ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Susquehanna lowered their target price on shares of ConocoPhillips from $120.00 to $114.00 and set a "positive" rating on the stock in a research note on Monday, May 12th. Piper Sandler raised their target price on shares of ConocoPhillips from $107.00 to $113.00 and gave the company an "overweight" rating in a research note on Wednesday, July 2nd. Finally, Morgan Stanley raised their target price 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. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $122.15.

ConocoPhillips Price Performance

Shares of NYSE:COP traded up $0.29 during midday trading on Friday, reaching $95.66. 4,903,410 shares of the company's stock were exchanged, compared to its average volume of 7,648,450. The company's 50 day simple moving average is $90.58 and its two-hundred day simple moving average is $94.77. The firm has a market capitalization of $120.93 billion, a PE ratio of 12.16, a price-to-earnings-growth ratio of 2.57 and a beta of 0.61. ConocoPhillips has a 12 month low of $79.88 and a 12 month 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 released 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. The company 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 period last year, the firm earned $2.05 EPS. Equities research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal 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 issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips's payout ratio is 39.64%.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, EVP Kirk L. Johnson acquired 5,300 shares of ConocoPhillips stock in a transaction dated Monday, June 16th. The stock was bought at an average cost of $94.24 per share, with a total value 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. The trade was a 57.44% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.24% of the company's stock.

ConocoPhillips Company 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.