Inscription Capital LLC Makes New Investment in ConocoPhillips (NYSE:COP)

Inscription Capital LLC purchased a new stake in ConocoPhillips (NYSE:COP - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 24,675 shares of the energy producer's stock, valued at approximately $2,591,000.

Several other large investors have also recently made changes to their positions in COP. Price T Rowe Associates Inc. MD boosted its position in shares of ConocoPhillips by 13.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer's stock worth $4,546,706,000 after buying an additional 5,549,078 shares during the period. Elevation Point Wealth Partners LLC boosted its holdings in ConocoPhillips by 83.0% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 18,060 shares of the energy producer's stock valued at $1,897,000 after acquiring an additional 8,189 shares during the period. Kentucky Retirement Systems Insurance Trust Fund boosted its holdings in ConocoPhillips by 26.2% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 43,384 shares of the energy producer's stock valued at $4,302,000 after acquiring an additional 9,002 shares during the period. Csenge Advisory Group grew its position in ConocoPhillips by 9.4% in the 4th quarter. Csenge Advisory Group now owns 7,721 shares of the energy producer's stock valued at $766,000 after acquiring an additional 666 shares in the last quarter. Finally, Hennessy Advisors Inc. increased its stake in ConocoPhillips by 151.1% during the first quarter. Hennessy Advisors Inc. now owns 91,224 shares of the energy producer's stock worth $9,580,000 after purchasing an additional 54,900 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

COP has been the topic of several recent research reports. Bank of America cut their target price on shares of ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. Morgan Stanley upped their price objective on ConocoPhillips from $116.00 to $118.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Scotiabank decreased their target price on ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating for the company in a report on Friday, April 11th. JPMorgan Chase & Co. lowered their target price on ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Finally, Wells Fargo & Company reduced their price target on ConocoPhillips from $116.00 to $113.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 14th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $121.30.

ConocoPhillips Price Performance

Shares of COP opened at $95.03 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $118.40. The stock has a market cap of $120.13 billion, a PE ratio of 12.20, a price-to-earnings-growth ratio of 0.79 and a beta of 0.61. The firm has a fifty day moving average price of $89.16 and a 200 day moving average price of $95.70.

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

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.28%. The ex-dividend date was Monday, May 19th. ConocoPhillips's payout ratio is currently 39.64%.

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.

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