Cwm LLC Has $11.84 Million Position in ConocoPhillips (NYSE:COP)

Cwm LLC lifted its stake in ConocoPhillips (NYSE:COP - Free Report) by 44.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 112,764 shares of the energy producer's stock after acquiring an additional 34,853 shares during the quarter. Cwm LLC's holdings in ConocoPhillips were worth $11,843,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Greatmark Investment Partners Inc. increased its stake in shares of ConocoPhillips by 2.5% in the first quarter. Greatmark Investment Partners Inc. now owns 6,747 shares of the energy producer's stock worth $709,000 after acquiring an additional 162 shares during the last quarter. TFR Capital LLC. increased its stake in shares of ConocoPhillips by 5.9% in the first quarter. TFR Capital LLC. now owns 22,144 shares of the energy producer's stock worth $2,326,000 after acquiring an additional 1,230 shares during the last quarter. Platform Technology Partners increased its position in ConocoPhillips by 4.1% during the first quarter. Platform Technology Partners now owns 14,480 shares of the energy producer's stock worth $1,521,000 after buying an additional 573 shares during the last quarter. Arizona State Retirement System increased its position in ConocoPhillips by 0.6% during the first quarter. Arizona State Retirement System now owns 379,626 shares of the energy producer's stock worth $39,868,000 after buying an additional 2,311 shares during the last quarter. Finally, Kathmere Capital Management LLC increased its position in ConocoPhillips by 78.8% during the first quarter. Kathmere Capital Management LLC now owns 5,574 shares of the energy producer's stock worth $585,000 after buying an additional 2,456 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

COP has been the topic of several analyst reports. Scotiabank set a $100.00 target price on shares of ConocoPhillips and gave the stock a "sector perform" rating in a research report on Friday. Raymond James Financial reissued an "outperform" rating and set a $109.00 target price (up from $103.00) on shares of ConocoPhillips in a research report on Tuesday, May 20th. Bank of America lowered their target price on shares of ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. Royal Bank Of Canada lowered their target price on shares of ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating on the stock in a research report on Friday. Finally, Piper Sandler increased their target price on shares of ConocoPhillips from $107.00 to $113.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 2nd. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $122.15.

ConocoPhillips Stock Down 1.5%

NYSE COP opened at $94.22 on Tuesday. 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 firm has a 50-day simple moving average of $90.72 and a 200 day simple moving average of $94.72. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $118.40. The stock has a market cap of $119.11 billion, a PE ratio of 11.97, a PEG ratio of 2.58 and a beta of 0.61.

ConocoPhillips (NYSE:COP - Get Free Report) last released its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, beating 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 business had revenue of $16.18 billion during the quarter, compared to analysts' expectations of $15.74 billion. During the same quarter last year, the company earned $2.05 earnings per share. On average, research analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date was Monday, May 19th. ConocoPhillips's dividend payout ratio is 39.64%.

Insider Buying and Selling

In other ConocoPhillips news, EVP Kirk L. Johnson purchased 5,300 shares of the business's stock in a transaction on Monday, June 16th. The stock was purchased at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the completion of the purchase, the executive vice president directly owned 14,527 shares in the company, valued at approximately $1,369,024.48. This trade represents a 57.44% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.24% of the stock is currently 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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