Highland Capital Management LLC Purchases 16,489 Shares of ConocoPhillips (NYSE:COP)

Highland Capital Management LLC raised its position in ConocoPhillips (NYSE:COP - Free Report) by 16.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 117,012 shares of the energy producer's stock after buying an additional 16,489 shares during the quarter. ConocoPhillips comprises about 0.7% of Highland Capital Management LLC's portfolio, making the stock its 27th largest position. Highland Capital Management LLC's holdings in ConocoPhillips were worth $12,289,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in COP. Murphy & Mullick Capital Management Corp acquired a new stake in shares of ConocoPhillips in the 4th quarter valued at approximately $26,000. 10Elms LLP acquired a new stake in shares of ConocoPhillips in the 4th quarter valued at approximately $28,000. Crowley Wealth Management Inc. acquired a new stake in shares of ConocoPhillips in the 4th quarter valued at approximately $32,000. Garde Capital Inc. acquired a new stake in shares of ConocoPhillips in the 1st quarter valued at approximately $35,000. Finally, Rakuten Securities Inc. boosted its stake in shares of ConocoPhillips by 222.0% in the 4th quarter. Rakuten Securities Inc. now owns 380 shares of the energy producer's stock valued at $38,000 after purchasing an additional 262 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Down 0.8%

Shares of NYSE COP opened at $90.20 on Friday. The company has a market capitalization of $114.03 billion, a P/E ratio of 11.46, a price-to-earnings-growth ratio of 2.46 and a beta of 0.61. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $118.40. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.13 and a current ratio of 1.27. The company's 50 day moving average price is $89.96 and its 200-day moving average price is $95.07.

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

ConocoPhillips Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 3.46%. ConocoPhillips's payout ratio is presently 39.64%.

Insider Activity at ConocoPhillips

In related news, EVP Kirk L. Johnson bought 5,300 shares of the company's stock in a transaction that occurred on Monday, June 16th. The shares were bought at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the transaction, the executive vice president now directly owns 14,527 shares of the company's stock, valued at approximately $1,369,024.48. The trade was a 57.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.24% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Piper Sandler reduced their price target on shares of ConocoPhillips from $114.00 to $107.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. Morgan Stanley raised their price target on shares of ConocoPhillips from $116.00 to $118.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Wells Fargo & Company reiterated an "overweight" rating and set a $117.00 target price (up from $113.00) on shares of ConocoPhillips in a research report on Thursday. Barclays cut their target price on shares of ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Finally, Raymond James Financial reiterated an "outperform" rating and set a $109.00 target price (up from $103.00) on shares of ConocoPhillips in a research report on Tuesday, May 20th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $121.50.

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.

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