Easterly Investment Partners LLC Purchases 61,677 Shares of ConocoPhillips (NYSE:COP)

Easterly Investment Partners LLC boosted its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 87.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 132,334 shares of the energy producer's stock after acquiring an additional 61,677 shares during the period. ConocoPhillips comprises 1.2% of Easterly Investment Partners LLC's investment portfolio, making the stock its 20th biggest holding. Easterly Investment Partners LLC's holdings in ConocoPhillips were worth $13,898,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Plancorp LLC lifted its holdings in ConocoPhillips by 2.7% in the 4th quarter. Plancorp LLC now owns 4,018 shares of the energy producer's stock worth $399,000 after purchasing an additional 104 shares during the last quarter. Councilmark Asset Management LLC lifted its holdings in ConocoPhillips by 0.5% in the 4th quarter. Councilmark Asset Management LLC now owns 19,639 shares of the energy producer's stock worth $1,948,000 after purchasing an additional 106 shares during the last quarter. Second Line Capital LLC lifted its holdings in ConocoPhillips by 2.2% in the 4th quarter. Second Line Capital LLC now owns 4,990 shares of the energy producer's stock worth $495,000 after purchasing an additional 108 shares during the last quarter. Meiji Yasuda Life Insurance Co lifted its holdings in shares of ConocoPhillips by 1.6% during the fourth quarter. Meiji Yasuda Life Insurance Co now owns 7,091 shares of the energy producer's stock worth $703,000 after buying an additional 110 shares during the last quarter. Finally, LRI Investments LLC lifted its holdings in shares of ConocoPhillips by 3.6% during the fourth quarter. LRI Investments LLC now owns 3,184 shares of the energy producer's stock worth $316,000 after buying an additional 110 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

Insider Transactions at ConocoPhillips

In other news, EVP Kirk L. Johnson bought 5,300 shares of the stock in a transaction on Monday, June 16th. The stock was acquired at an average price 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 in the company, valued at approximately $1,369,024.48. This trade represents a 57.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.24% of the stock is currently owned by insiders.

ConocoPhillips Price Performance

Shares of NYSE:COP traded down $1.06 during trading on Friday, reaching $91.75. 7,967,743 shares of the company traded hands, compared to its average volume of 7,640,115. The company's 50 day moving average is $90.97 and its two-hundred day moving average is $94.66. The firm has a market capitalization of $115.99 billion, a PE ratio of 11.66, a PEG ratio of 2.45 and a beta of 0.61. The company has a quick ratio of 1.13, a current ratio of 1.27 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $118.40.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, topping analysts' consensus estimates of $2.05 by $0.04. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. 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 firm earned $2.05 EPS. As a group, sell-side analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were issued a $0.78 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a yield of 3.40%. ConocoPhillips's payout ratio is presently 39.64%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Piper Sandler restated an "overweight" rating and issued a $123.00 target price (up from $113.00) on shares of ConocoPhillips in a research note on Tuesday. Citigroup cut their target price on ConocoPhillips from $140.00 to $115.00 and set a "buy" rating for the company in a research note on Wednesday, June 11th. Susquehanna lowered their price target on ConocoPhillips from $120.00 to $114.00 and set a "positive" rating on the stock in a research report on Monday, May 12th. Barclays lowered their price target on ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Finally, Mizuho lowered their price target on ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $122.21.

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.