Gradient Investments LLC Increases Stake in ConocoPhillips (NYSE:COP)

Gradient Investments LLC boosted its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 17.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 277,591 shares of the energy producer's stock after acquiring an additional 41,042 shares during the quarter. Gradient Investments LLC's holdings in ConocoPhillips were worth $29,153,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of COP. Tallon Kerry Patrick acquired a new position in ConocoPhillips during the fourth quarter worth approximately $511,000. Cibc World Market Inc. increased its stake in ConocoPhillips by 543.0% in the fourth quarter. Cibc World Market Inc. now owns 146,843 shares of the energy producer's stock valued at $14,562,000 after purchasing an additional 124,006 shares during the last quarter. Chicago Partners Investment Group LLC increased its stake in ConocoPhillips by 12.1% during the fourth quarter. Chicago Partners Investment Group LLC now owns 6,827 shares of the energy producer's stock worth $694,000 after acquiring an additional 737 shares during the last quarter. Capital Insight Partners LLC boosted its position in shares of ConocoPhillips by 7.1% in the fourth quarter. Capital Insight Partners LLC now owns 6,105 shares of the energy producer's stock worth $605,000 after buying an additional 405 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. boosted its holdings in ConocoPhillips by 8.9% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 59,123 shares of the energy producer's stock valued at $5,863,000 after purchasing an additional 4,824 shares during the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Trading Up 0.2%

Shares of COP stock traded up $0.15 on Thursday, hitting $86.10. 2,275,946 shares of the company's stock traded hands, compared to its average volume of 7,372,472. The stock has a market capitalization of $108.84 billion, a price-to-earnings ratio of 11.05, a P/E/G ratio of 0.79 and a beta of 0.61. ConocoPhillips has a one year low of $79.88 and a one year high of $118.40. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. The company's fifty day simple moving average is $89.50 and its 200 day simple moving average is $96.91.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.04. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. The business had revenue of $16.18 billion during the quarter, compared to analysts' expectations of $15.74 billion. During the same period in the previous year, the company earned $2.05 earnings per share. Equities analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were given a dividend of $0.78 per share. The ex-dividend date was Monday, May 19th. This represents a $3.12 annualized dividend and a yield of 3.62%. ConocoPhillips's dividend payout ratio (DPR) is 39.64%.

Analyst Ratings Changes

COP has been the topic of several analyst reports. UBS Group lowered their target price on ConocoPhillips from $116.00 to $111.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Scotiabank dropped their price objective on ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating on the stock in a research note on Friday, April 11th. Piper Sandler lowered their price target on ConocoPhillips from $114.00 to $107.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. Wells Fargo & Company reduced their target price on ConocoPhillips from $116.00 to $113.00 and set an "overweight" rating on the stock in a report on Wednesday, May 14th. Finally, Susquehanna dropped their price objective on shares of ConocoPhillips from $120.00 to $114.00 and set a "positive" rating for the company in a research report on Monday, May 12th. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $121.63.

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.