ConocoPhillips (NYSE:COP) Stock Position Raised by Davis R M Inc.

Key Points

• Davis R M Inc. increased its holdings in ConocoPhillips by 1.5%, acquiring 5,703 shares during the first quarter, bringing its total to 382,375 shares valued at approximately $40.16 million.
• A number of analysts have adjusted their price targets for ConocoPhillips, with Morgan Stanley setting a target of $119.00 and Royal Bank of Canada lowering theirs to $113.00, amidst strong overall ratings for the stock.
• ConocoPhillips recently announced a quarterly dividend of $0.78, resulting in an annualized dividend yield of 3.23% and a payout ratio of 39.64%.

Davis R M Inc. boosted its stake in ConocoPhillips (NYSE:COP - Free Report) by 1.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 382,375 shares of the energy producer's stock after buying an additional 5,703 shares during the quarter. Davis R M Inc.'s holdings in ConocoPhillips were worth $40,157,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of COP. 10Elms LLP purchased a new position in shares of ConocoPhillips in the fourth quarter valued at approximately $28,000. Garde Capital Inc. purchased a new position in ConocoPhillips during the first quarter worth approximately $35,000. IMA Advisory Services Inc. purchased a new position in ConocoPhillips during the first quarter worth approximately $37,000. Fourth Dimension Wealth LLC purchased a new position in ConocoPhillips during the fourth quarter worth approximately $39,000. Finally, MorganRosel Wealth Management LLC purchased a new position in ConocoPhillips during the first quarter worth approximately $42,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Trading Down 2.7%

COP traded down $2.59 during mid-day trading on Friday, hitting $92.75. 6,348,613 shares of the stock were exchanged, compared to its average volume of 5,417,085. The firm's fifty day moving average is $91.97 and its two-hundred day moving average is $94.15. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $116.08. 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 company has a market cap of $117.25 billion, a PE ratio of 11.79, a PEG ratio of 2.48 and a beta of 0.67.

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

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $3.12 annualized dividend and a dividend yield of 3.4%. ConocoPhillips's dividend payout ratio is 39.64%.

Wall Street Analysts Forecast Growth

COP has been the subject of a number of recent analyst reports. Bank of America decreased their price target on ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Susquehanna reduced their price objective on ConocoPhillips from $114.00 to $113.00 and set a "positive" rating for the company in a research note on Wednesday, July 23rd. Morgan Stanley reiterated an "overweight" rating and set a $119.00 target price on shares of ConocoPhillips in a research report on Tuesday, July 15th. Citigroup lowered their price target on ConocoPhillips from $140.00 to $115.00 and set a "buy" rating on the stock in a report on Wednesday, June 11th. Finally, Raymond James Financial increased their price target on ConocoPhillips from $109.00 to $117.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $121.33.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, EVP Kirk L. Johnson acquired 5,300 shares of the firm's stock in a transaction that occurred on 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 acquisition, the executive vice president directly owned 14,527 shares of the company's stock, valued at $1,369,024.48. This represents a 57.44% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.24% of the company's stock.

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.