DAVENPORT & Co LLC Boosts Stake in ConocoPhillips (NYSE:COP)

DAVENPORT & Co LLC grew its position in ConocoPhillips (NYSE:COP - Free Report) by 43.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 81,099 shares of the energy producer's stock after purchasing an additional 24,658 shares during the quarter. DAVENPORT & Co LLC's holdings in ConocoPhillips were worth $8,517,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. Summit Trail Advisors LLC increased its position in shares of ConocoPhillips by 2.8% during the first quarter. Summit Trail Advisors LLC now owns 26,858 shares of the energy producer's stock worth $2,821,000 after purchasing an additional 732 shares in the last quarter. Sageworth Trust Co of South Dakota increased its position in shares of ConocoPhillips by 1.7% during the first quarter. Sageworth Trust Co of South Dakota now owns 9,092 shares of the energy producer's stock worth $955,000 after purchasing an additional 155 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of ConocoPhillips by 12.2% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 179,751 shares of the energy producer's stock worth $18,877,000 after purchasing an additional 19,589 shares in the last quarter. Clear Creek Financial Management LLC acquired a new position in shares of ConocoPhillips during the first quarter worth $232,000. Finally, JNBA Financial Advisors increased its position in shares of ConocoPhillips by 16.2% during the first quarter. JNBA Financial Advisors now owns 1,286 shares of the energy producer's stock worth $135,000 after purchasing an additional 179 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Kirk L. Johnson purchased 5,300 shares of ConocoPhillips stock in a transaction that occurred 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 transaction, 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 acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.24% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on COP shares. JPMorgan Chase & Co. reduced their price target on ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. UBS Group decreased their price target on shares of ConocoPhillips from $116.00 to $111.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Mizuho decreased their price target on shares of ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Raymond James Financial reaffirmed an "outperform" rating and issued a $109.00 price target (up previously from $103.00) on shares of ConocoPhillips in a report on Tuesday, May 20th. Finally, 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 note on Friday, April 11th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $121.80.

ConocoPhillips Stock Performance

COP stock traded down $0.16 during midday trading on Friday, hitting $94.28. 4,331,501 shares of the stock traded hands, compared to its average volume of 7,614,130. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $118.40. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.27 and a quick ratio of 1.13. The stock's fifty day simple moving average is $90.23 and its 200-day simple moving average is $94.80. The firm has a market cap of $119.19 billion, a P/E ratio of 11.98, a PEG ratio of 2.53 and a beta of 0.61.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings data 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 analysts' expectations of $15.74 billion. During the same quarter in the previous year, the company earned $2.05 earnings per share. On average, analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

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

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.