Golden State Wealth Management LLC Acquires 5,266 Shares of ConocoPhillips (NYSE:COP)

Golden State Wealth Management LLC boosted its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 141.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,980 shares of the energy producer's stock after buying an additional 5,266 shares during the quarter. Golden State Wealth Management LLC's holdings in ConocoPhillips were worth $944,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in COP. Murphy & Mullick Capital Management Corp bought a new position in ConocoPhillips in the 4th quarter worth $26,000. 10Elms LLP purchased a new stake in ConocoPhillips in the fourth quarter worth about $28,000. Crowley Wealth Management Inc. purchased a new stake in ConocoPhillips in the fourth quarter worth about $32,000. Garde Capital Inc. bought a new position in shares of ConocoPhillips in the first quarter worth about $35,000. Finally, Rakuten Securities Inc. lifted its position in shares of ConocoPhillips by 222.0% during the 4th quarter. Rakuten Securities Inc. now owns 380 shares of the energy producer's stock valued at $38,000 after buying an additional 262 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Price Performance

COP stock traded down $0.69 during trading on Friday, hitting $90.20. 7,553,864 shares of the company's stock traded hands, compared to its average volume of 7,540,795. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $118.40. The stock has a market capitalization of $114.03 billion, a price-to-earnings ratio of 11.46, a P/E/G ratio of 2.46 and a beta of 0.61. The business has a fifty day simple moving average of $89.93 and a 200 day simple moving average of $95.15. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.13 and a current ratio of 1.27.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.04. The firm had revenue of $16.18 billion for the quarter, compared to analysts' expectations of $15.74 billion. ConocoPhillips had a net margin of 16.02% and a return on equity of 16.54%. During the same period in the prior year, the company earned $2.05 EPS. As a group, research analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.46%. The ex-dividend date was Monday, May 19th. ConocoPhillips's payout ratio is 39.64%.

Analyst Ratings Changes

COP has been the topic of a number of recent analyst reports. Mizuho decreased their target price on shares of ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Bank of America decreased their price objective 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. Susquehanna lowered their target price on shares of ConocoPhillips from $120.00 to $114.00 and set a "positive" rating on the stock in a research note on Monday, May 12th. Raymond James Financial reiterated an "outperform" rating and issued a $109.00 price target (up previously from $103.00) on shares of ConocoPhillips in a research note on Tuesday, May 20th. Finally, Wells Fargo & Company restated an "overweight" rating and issued a $117.00 price objective (up from $113.00) on shares of ConocoPhillips in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, ConocoPhillips has a consensus rating of "Moderate Buy" and an average price target of $121.50.

Insider Transactions at ConocoPhillips

In other news, EVP Kirk L. Johnson purchased 5,300 shares of the company's stock in a transaction that occurred on Monday, June 16th. The stock was purchased at an average cost of $94.24 per share, with a total value of $499,472.00. Following the purchase, the executive vice president now owns 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 at this hyperlink. Company insiders own 0.24% of the company's stock.

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.