Klein Pavlis & Peasley Financial Inc. Raises Position in ConocoPhillips (NYSE:COP)

Key Points

• Klein Pavlis & Peasley Financial Inc. increased its stake in ConocoPhillips by 20.2%, holding $2.70 million worth of the stock, which accounts for 1.9% of its total portfolio.
• ConocoPhillips recently announced a quarterly dividend of $0.78 per share, resulting in an annualized dividend yield of 3.4%.
• Citigroup, Bank of America, and Barclays have all recently decreased their price targets for ConocoPhillips, reflecting a cautious outlook on the stock.

Klein Pavlis & Peasley Financial Inc. grew its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 20.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,626 shares of the energy producer's stock after purchasing an additional 4,300 shares during the quarter. ConocoPhillips makes up about 1.9% of Klein Pavlis & Peasley Financial Inc.'s investment portfolio, making the stock its 18th largest position. Klein Pavlis & Peasley Financial Inc.'s holdings in ConocoPhillips were worth $2,701,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its holdings in ConocoPhillips by 13.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer's stock valued at $4,546,706,000 after acquiring an additional 5,549,078 shares during the period. Capital International Investors boosted its holdings in ConocoPhillips by 4.9% during the 4th quarter. Capital International Investors now owns 31,287,113 shares of the energy producer's stock valued at $3,101,989,000 after acquiring an additional 1,473,027 shares during the period. Invesco Ltd. boosted its holdings in ConocoPhillips by 37.1% during the 4th quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer's stock valued at $1,544,101,000 after acquiring an additional 4,211,939 shares during the period. Northern Trust Corp lifted its holdings in ConocoPhillips by 27.6% in the 4th quarter. Northern Trust Corp now owns 13,757,835 shares of the energy producer's stock worth $1,364,364,000 after buying an additional 2,971,661 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in ConocoPhillips by 9.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 12,021,394 shares of the energy producer's stock worth $1,191,984,000 after buying an additional 1,078,707 shares during the period. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Trading Down 2.7%

Shares of NYSE COP traded down $2.59 during midday trading on Friday, hitting $92.75. The company's stock had a trading volume of 6,348,613 shares, compared to its average volume of 5,734,546. 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 business's 50 day moving average is $91.97 and its two-hundred day moving average is $93.99. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $116.08. The firm has a market cap of $117.25 billion, a P/E ratio of 11.79, a price-to-earnings-growth ratio of 2.41 and a beta of 0.67.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings data 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 return on equity of 16.54% and a net margin of 16.02%. The company had revenue of $16.18 billion for the quarter, compared to analysts' expectations of $15.74 billion. During the same quarter in the prior year, the firm earned $2.05 earnings per share. As a group, equities research analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips's dividend payout ratio (DPR) is 39.64%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on COP. Barclays dropped their price objective on ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Raymond James Financial increased their price objective on ConocoPhillips from $109.00 to $117.00 and gave the stock an "outperform" rating in a report on Tuesday, July 22nd. Morgan Stanley restated an "overweight" rating and issued a $119.00 target price on shares of ConocoPhillips in a research note on Tuesday, July 15th. Scotiabank raised their target price on ConocoPhillips from $95.00 to $100.00 and gave the company a "sector perform" rating in a research note on Friday, July 11th. Finally, Susquehanna lowered their target price on ConocoPhillips from $114.00 to $113.00 and set a "positive" rating for the company in a research note on Wednesday, July 23rd. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat.com, ConocoPhillips has a consensus rating of "Moderate Buy" and an average price target of $121.33.

Insider Transactions at ConocoPhillips

In related news, EVP Kirk L. Johnson bought 5,300 shares of the company's stock in a transaction on Monday, June 16th. The shares were acquired at an average price of $94.24 per share, with a total value of $499,472.00. Following the transaction, the executive vice president owned 14,527 shares of the company's stock, valued at $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 SEC, which can be accessed through this hyperlink. Company insiders own 0.24% of the company's stock.

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.