ConocoPhillips (NYSE:COP) Stock Position Lifted by Hartford Funds Management Co LLC

Hartford Funds Management Co LLC lifted its position in ConocoPhillips (NYSE:COP - Free Report) by 26.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,932 shares of the energy producer's stock after buying an additional 3,166 shares during the quarter. ConocoPhillips comprises approximately 0.1% of Hartford Funds Management Co LLC's holdings, making the stock its 24th largest position. Hartford Funds Management Co LLC's holdings in ConocoPhillips were worth $1,568,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. LPL Financial LLC grew its stake in shares of ConocoPhillips by 8.8% in the fourth quarter. LPL Financial LLC now owns 1,111,391 shares of the energy producer's stock valued at $110,217,000 after buying an additional 90,067 shares in the last quarter. Crowley Wealth Management Inc. bought a new stake in ConocoPhillips in the fourth quarter valued at approximately $32,000. Twin City Private Wealth LLC boosted its holdings in shares of ConocoPhillips by 3.4% during the 4th quarter. Twin City Private Wealth LLC now owns 7,591 shares of the energy producer's stock worth $753,000 after buying an additional 250 shares in the last quarter. United Services Automobile Association raised its position in shares of ConocoPhillips by 1.6% during the fourth quarter. United Services Automobile Association now owns 162,762 shares of the energy producer's stock worth $16,141,000 after purchasing an additional 2,528 shares during the period. Finally, Corebridge Financial Inc. boosted its stake in ConocoPhillips by 4.4% in the 4th quarter. Corebridge Financial Inc. now owns 297,300 shares of the energy producer's stock worth $29,483,000 after purchasing an additional 12,420 shares during the period. Institutional investors and hedge funds own 82.36% of the company's stock.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $91.23 on Tuesday. The business has a fifty day simple moving average of $91.03 and a two-hundred day simple moving average of $94.53. The company has a current ratio of 1.27, a quick ratio of 1.13 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $115.32 billion, a P/E ratio of 11.58, a P/E/G ratio of 2.43 and a beta of 0.61. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $116.08.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.04. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. The business had revenue of $16.18 billion for the quarter, compared to analysts' expectations of $15.74 billion. During the same period in the prior year, the firm earned $2.05 EPS. On average, equities analysts forecast 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 $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips's dividend payout ratio is presently 39.64%.

Analyst Upgrades and Downgrades

COP has been the topic of several research analyst reports. Susquehanna reduced their target price on 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 restated an "overweight" rating and set a $123.00 price target (up from $113.00) on shares of ConocoPhillips in a research report on Tuesday, July 15th. Scotiabank set a $100.00 target price on ConocoPhillips and gave the stock a "sector perform" rating in a report on Friday, July 11th. UBS Group boosted their target price on ConocoPhillips from $111.00 to $115.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Finally, Mizuho dropped their target price on ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $120.94.

Insider Buying and Selling

In other ConocoPhillips news, EVP Kirk L. Johnson acquired 5,300 shares of the stock in a transaction dated Monday, June 16th. The stock was acquired at an average cost of $94.24 per share, with a total value of $499,472.00. Following the transaction, the executive vice president owned 14,527 shares in the company, valued at $1,369,024.48. The trade was a 57.44% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.24% of the stock is owned by corporate insiders.

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.

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