ConocoPhillips (NYSE:COP) is Conning Inc.'s 6th Largest Position

Conning Inc. increased its holdings in ConocoPhillips (NYSE:COP - Free Report) by 7.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 390,631 shares of the energy producer's stock after buying an additional 27,220 shares during the period. ConocoPhillips comprises approximately 1.4% of Conning Inc.'s holdings, making the stock its 6th biggest position. Conning Inc.'s holdings in ConocoPhillips were worth $41,024,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Murphy & Mullick Capital Management Corp acquired a new position in ConocoPhillips in the fourth quarter valued at approximately $26,000. 10Elms LLP acquired a new position in ConocoPhillips during the 4th quarter valued at approximately $28,000. Crowley Wealth Management Inc. acquired a new position in shares of ConocoPhillips during the fourth quarter valued at $32,000. Garde Capital Inc. acquired a new position in shares of ConocoPhillips during the first quarter valued at $35,000. Finally, Rakuten Securities Inc. boosted its holdings in shares of ConocoPhillips by 222.0% during the fourth quarter. Rakuten Securities Inc. now owns 380 shares of the energy producer's stock valued at $38,000 after acquiring an additional 262 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

Insider Activity at ConocoPhillips

In related news, EVP Kirk L. Johnson acquired 5,300 shares of the business's stock in a transaction dated Monday, June 16th. The stock was bought at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the transaction, 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 this hyperlink. Company insiders own 0.24% of the company's stock.

Analyst Ratings Changes

COP has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their target price on shares of ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Scotiabank reduced their price objective on ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating for the company in a research report on Friday, April 11th. Citigroup reduced their price objective on ConocoPhillips from $140.00 to $115.00 and set a "buy" rating for the company in a research report on Wednesday, June 11th. Susquehanna reduced their price target on ConocoPhillips from $120.00 to $114.00 and set a "positive" rating for the company in a research report on Monday, May 12th. Finally, Piper Sandler boosted their price target on ConocoPhillips from $107.00 to $113.00 and gave the stock an "overweight" rating in a research report on Wednesday. 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, the company presently has an average rating of "Moderate Buy" and a consensus target price of $121.80.

ConocoPhillips Price Performance

NYSE COP traded down $0.16 on Friday, reaching $94.28. The company's stock had a trading volume of 4,331,501 shares, compared to its average volume of 7,614,130. ConocoPhillips has a twelve month low of $79.88 and a twelve 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. The stock has a market cap of $119.19 billion, a PE ratio of 11.98, a PEG ratio of 2.53 and a beta of 0.61. The firm's 50 day moving average is $90.23 and its two-hundred day moving average is $94.80.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share 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 company had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. During the same period in the prior year, the company earned $2.05 EPS. As a group, sell-side analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were given a dividend of $0.78 per share. The ex-dividend date was Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.31%. ConocoPhillips's dividend payout ratio (DPR) is presently 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.