IRON Financial LLC Makes New Investment in ConocoPhillips (NYSE:COP)

IRON Financial LLC bought a new position in shares of ConocoPhillips (NYSE:COP - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,421 shares of the energy producer's stock, valued at approximately $569,000.

Other hedge funds have also modified their holdings of the company. Gray Wealth Management Inc. increased its holdings in shares of ConocoPhillips by 5.0% in the 4th quarter. Gray Wealth Management Inc. now owns 2,171 shares of the energy producer's stock worth $215,000 after acquiring an additional 104 shares during the period. Plancorp LLC grew its position in ConocoPhillips by 2.7% in the 4th quarter. Plancorp LLC now owns 4,018 shares of the energy producer's stock worth $399,000 after purchasing an additional 104 shares during the last quarter. Thompson Siegel & Walmsley LLC increased its stake in shares of ConocoPhillips by 3.7% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 2,912 shares of the energy producer's stock valued at $289,000 after purchasing an additional 105 shares during the period. Councilmark Asset Management LLC raised its holdings in shares of ConocoPhillips by 0.5% during the fourth quarter. Councilmark Asset Management LLC now owns 19,639 shares of the energy producer's stock valued at $1,948,000 after buying an additional 106 shares during the last quarter. Finally, Second Line Capital LLC boosted its position in shares of ConocoPhillips by 2.2% during the fourth quarter. Second Line Capital LLC now owns 4,990 shares of the energy producer's stock worth $495,000 after buying an additional 108 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at ConocoPhillips

In related news, EVP Kirk L. Johnson acquired 5,300 shares of the business's 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 acquisition, the executive vice president owned 14,527 shares in the company, valued at approximately $1,369,024.48. This represents a 57.44% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.24% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on COP. Scotiabank decreased their price objective on ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating for the company in a report on Friday, April 11th. Raymond James Financial reissued 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. Piper Sandler lifted their price objective on shares of ConocoPhillips from $107.00 to $113.00 and gave the company an "overweight" rating in a research note on Wednesday. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $117.00 price objective (up previously from $113.00) on shares of ConocoPhillips in a report on Thursday, June 26th. Finally, UBS Group lowered their target price on shares of ConocoPhillips from $116.00 to $111.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $121.80.

ConocoPhillips Price Performance

COP stock traded down $0.16 on Thursday, hitting $94.28. 4,331,501 shares of the company's stock traded hands, compared to its average volume of 7,579,414. The stock has a market cap of $119.19 billion, a price-to-earnings ratio of 11.98, a P/E/G ratio of 2.49 and a beta of 0.61. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $118.40. The company has a current ratio of 1.27, a quick ratio of 1.13 and a debt-to-equity ratio of 0.36. The stock has a fifty day moving average of $90.13 and a 200-day moving average of $94.87.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, beating analysts' consensus estimates of $2.05 by $0.04. The company 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 16.54% and a net margin of 16.02%. During the same quarter in the prior year, the firm earned $2.05 EPS. On average, analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.31%. The ex-dividend date was Monday, May 19th. ConocoPhillips's dividend payout ratio is 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.