Focus Partners Wealth Purchases 34,195 Shares of ConocoPhillips $COP

Key Points

• Focus Partners Wealth increased its holdings in ConocoPhillips by 36.2% during the first quarter, now owning 128,601 shares valued at approximately $13.5 million.
• Several analysts issued new price targets for ConocoPhillips, with Morgan Stanley setting a target of $123.00 and Citigroup lowering their target to $115.00, indicating various assessments of the stock's potential.
• ConocoPhillips recently declared a quarterly dividend of $0.78 per share, resulting in a 3.4% yield, reflecting the company's ongoing commitment to returning value to shareholders.

Focus Partners Wealth raised its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 36.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 128,601 shares of the energy producer's stock after acquiring an additional 34,195 shares during the quarter. Focus Partners Wealth's holdings in ConocoPhillips were worth $13,506,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. 10Elms LLP acquired a new position in ConocoPhillips during the fourth quarter worth $28,000. Financial Network Wealth Advisors LLC increased its stake in ConocoPhillips by 341.5% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer's stock valued at $30,000 after buying an additional 222 shares during the last quarter. Stone House Investment Management LLC bought a new stake in ConocoPhillips during the 1st quarter worth about $31,000. Garde Capital Inc. acquired a new position in shares of ConocoPhillips during the 1st quarter worth about $35,000. Finally, IMA Advisory Services Inc. bought a new position in shares of ConocoPhillips in the 1st quarter valued at about $37,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ConocoPhillips

In other news, EVP Kirk L. Johnson acquired 5,300 shares of the stock in a transaction on Monday, June 16th. The shares were 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 of the company's stock, valued at approximately $1,369,024.48. This represents a 57.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.24% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Morgan Stanley reiterated an "overweight" rating and set a $123.00 target price (up previously from $119.00) on shares of ConocoPhillips in a report on Sunday, August 10th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $117.00 price target (up previously from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. Wall Street Zen cut ConocoPhillips from a "hold" rating to a "sell" rating in a research note on Friday, August 22nd. Scotiabank raised their target price on shares of ConocoPhillips from $95.00 to $100.00 and gave the company a "sector perform" rating in a research note on Friday, July 11th. Finally, Citigroup dropped their price target on shares of ConocoPhillips from $140.00 to $115.00 and set a "buy" rating on the stock in a research report on Wednesday, June 11th. Sixteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $120.86.

ConocoPhillips Price Performance

Shares of COP opened at $92.60 on Friday. The company's 50-day moving average is $94.75 and its 200-day moving average is $92.98. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. The firm has a market capitalization of $115.65 billion, a PE ratio of 12.43, a PEG ratio of 2.48 and a beta of 0.69. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $116.08.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, beating analysts' consensus estimates of $1.36 by $0.06. The business had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. ConocoPhillips's quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.98 EPS. Equities analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips's dividend payout ratio (DPR) is presently 41.88%.

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.

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