Kingsview Wealth Management LLC Has $3.13 Million Stock Holdings in ConocoPhillips (NYSE:COP)

Kingsview Wealth Management LLC lifted its position in ConocoPhillips (NYSE:COP - Free Report) by 10.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 29,783 shares of the energy producer's stock after buying an additional 2,770 shares during the period. Kingsview Wealth Management LLC's holdings in ConocoPhillips were worth $3,128,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Murphy & Mullick Capital Management Corp acquired a new stake in ConocoPhillips during the 4th quarter valued at approximately $26,000. 10Elms LLP purchased a new stake in ConocoPhillips in the 4th quarter worth $28,000. Crowley Wealth Management Inc. purchased a new stake in ConocoPhillips in the 4th quarter worth $32,000. Garde Capital Inc. purchased a new stake in shares of ConocoPhillips during the first quarter worth $35,000. Finally, Fourth Dimension Wealth LLC purchased a new stake in shares of ConocoPhillips during the fourth quarter worth $39,000. Hedge funds and other institutional investors own 82.36% of the company's stock.

ConocoPhillips Stock Down 1.1%

COP traded down $1.06 during midday trading on Friday, hitting $91.75. 7,967,743 shares of the company's stock traded hands, compared to its average volume of 7,647,201. ConocoPhillips has a one year low of $79.88 and a one year high of $116.08. The company has a market cap of $115.99 billion, a PE ratio of 11.66, a price-to-earnings-growth ratio of 2.45 and a beta of 0.61. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.27 and a quick ratio of 1.13. The stock's fifty day simple moving average is $91.03 and its 200-day simple moving average is $94.57.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, beating the consensus estimate 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. As a group, equities analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date was Monday, May 19th. ConocoPhillips's dividend payout ratio (DPR) is currently 39.64%.

Insiders Place Their Bets

In other ConocoPhillips news, EVP Kirk L. Johnson purchased 5,300 shares of the company's stock in a transaction that occurred on Monday, June 16th. The shares were acquired at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the purchase, the executive vice president owned 14,527 shares in the company, valued at approximately $1,369,024.48. The trade was a 57.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 0.24% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Susquehanna lowered their price objective on shares of ConocoPhillips from $120.00 to $114.00 and set a "positive" rating for the company in a research note on Monday, May 12th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $117.00 target price (up from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. Piper Sandler reaffirmed an "overweight" rating and issued a $123.00 target price (up from $113.00) on shares of ConocoPhillips in a research report on Tuesday, July 15th. Scotiabank set a $100.00 price target on ConocoPhillips and gave the stock a "sector perform" rating in a report on Friday, July 11th. Finally, UBS Group raised their price target on ConocoPhillips from $111.00 to $115.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $120.94.

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.