Convergence Investment Partners LLC Has $1.53 Million Stock Holdings in ConocoPhillips (NYSE:COP)

Convergence Investment Partners LLC increased its position in ConocoPhillips (NYSE:COP - Free Report) by 396.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,543 shares of the energy producer's stock after purchasing an additional 11,615 shares during the quarter. Convergence Investment Partners LLC's holdings in ConocoPhillips were worth $1,527,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Murphy & Mullick Capital Management Corp bought a new position in ConocoPhillips during the 4th quarter valued at $26,000. 10Elms LLP bought a new position in ConocoPhillips during the 4th quarter valued at $28,000. Garde Capital Inc. bought a new position in ConocoPhillips during the 1st quarter valued at $35,000. Fourth Dimension Wealth LLC bought a new position in ConocoPhillips during the 4th quarter valued at $39,000. Finally, MorganRosel Wealth Management LLC bought a new position in ConocoPhillips during the 1st quarter valued at $42,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

COP has been the topic of a number of research reports. Royal Bank Of Canada dropped their target price on shares of ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating on the stock in a report on Friday, July 11th. Raymond James Financial increased their target price on shares of ConocoPhillips from $109.00 to $117.00 and gave the stock an "outperform" rating in a report on Tuesday. Piper Sandler reissued an "overweight" rating and set a $123.00 target price (up from $113.00) on shares of ConocoPhillips in a report on Tuesday, July 15th. Morgan Stanley reissued an "overweight" rating and set a $119.00 target price on shares of ConocoPhillips in a report on Tuesday, July 15th. Finally, Citigroup dropped their target price on shares of ConocoPhillips from $140.00 to $115.00 and set a "buy" rating on the stock in a report on Wednesday, June 11th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $121.33.

ConocoPhillips Price Performance

Shares of NYSE:COP traded down $0.66 during trading hours on Friday, hitting $94.96. 4,485,898 shares of the company's stock traded hands, compared to its average volume of 8,262,428. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $116.08. 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 company's fifty day simple moving average is $91.09 and its two-hundred day simple moving average is $94.43. The company has a market cap of $120.04 billion, a price-to-earnings ratio of 12.07, a price-to-earnings-growth ratio of 2.47 and a beta of 0.61.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.05 by $0.04. The business had revenue of $16.18 billion during the quarter, compared to analyst estimates of $15.74 billion. ConocoPhillips had a net margin of 16.02% and a return on equity of 16.54%. During the same period in the prior year, the firm earned $2.05 earnings per share. As a group, equities analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors 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 3.29%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips's payout ratio is presently 39.64%.

Insiders Place Their Bets

In other ConocoPhillips news, EVP Kirk L. Johnson acquired 5,300 shares of the business's stock in a transaction that occurred on Monday, June 16th. The shares were purchased at an average price of $94.24 per share, with a total value of $499,472.00. Following the completion of 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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.