Miller Howard Investments Inc. NY Has $80.51 Million Stock Holdings in ConocoPhillips $COP

Key Points

• Miller Howard Investments increased its ConocoPhillips stake by 7.5% in Q1, bringing its holdings to 609,900 shares valued at about $80.5 million. ConocoPhillips is now its 9th largest position and represents roughly 2.2% of the portfolio.
• Analyst sentiment has been mixed but generally favorable, with several firms raising or maintaining positive views and price targets. MarketBeat says the stock currently has a Moderate Buy consensus and an average target price of $134.32.
• ConocoPhillips reported Q1 EPS of $1.89, beating estimates, and recently paid a quarterly dividend of $0.84 per share for a 3.1% yield. However, revenue fell 6.1% year over year, and CEO Ryan Michael Lance sold 113,221 shares in March.

Miller Howard Investments Inc. NY grew its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 7.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 609,900 shares of the energy producer's stock after purchasing an additional 42,352 shares during the quarter. ConocoPhillips makes up approximately 2.2% of Miller Howard Investments Inc. NY's portfolio, making the stock its 9th biggest position. Miller Howard Investments Inc. NY owned 0.05% of ConocoPhillips worth $80,507,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in ConocoPhillips during the 4th quarter valued at $25,000. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of ConocoPhillips during the third quarter worth about $28,000. Board of the Pension Protection Fund purchased a new stake in shares of ConocoPhillips during the fourth quarter worth about $28,000. Strive Asset Management LLC bought a new stake in shares of ConocoPhillips in the third quarter worth about $28,000. Finally, BNP Paribas bought a new stake in shares of ConocoPhillips in the second quarter worth about $33,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

COP has been the subject of a number of recent analyst reports. Freedom Capital lowered ConocoPhillips from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 6th. Wall Street Zen upgraded ConocoPhillips from a "sell" rating to a "hold" rating in a research report on Saturday, March 7th. Raymond James Financial decreased their target price on ConocoPhillips from $145.00 to $142.00 and set an "outperform" rating for the company in a report on Monday, June 1st. Morgan Stanley raised their price target on ConocoPhillips from $149.00 to $153.00 and gave the stock an "overweight" rating in a research note on Thursday, May 21st. Finally, Susquehanna boosted their price objective on shares of ConocoPhillips from $149.00 to $152.00 in a research report on Friday, May 1st. Eighteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $134.32.

ConocoPhillips News Roundup

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Wall Street analyst coverage turned more bullish on ConocoPhillips, with one note highlighting higher price targets and a generally favorable outlook for the stock. This ConocoPhillips Analyst Turns Bullish; Here Are Top 5 Upgrades For Monday
• Positive Sentiment: Energy stocks broadly strengthened late Monday, suggesting improved sector sentiment that can support ConocoPhillips along with peers. Sector Update: Energy Stocks Rise Late Afternoon
• Positive Sentiment: Reports that ConocoPhillips is expanding its LNG reach across energy markets point to longer-term growth opportunities and diversification. Why Is ConocoPhillips NYSE: COP Expanding LNG Reach Across Energy Markets?
• Neutral Sentiment: Broader energy-market commentary continues to focus on oil-price volatility and sector concentration risks, which adds uncertainty but does not directly change ConocoPhillips’ outlook. XLE's Concentration Risk Meets Oil's Next Move: What to Monitor in June
• Negative Sentiment: One recent headline says ConocoPhillips is slipping as crude oil pressure builds, reflecting the near-term headwind from weaker oil prices. ConocoPhillips NYSE: COP Slips As Crude Oil Pressure Builds

Insider Transactions at ConocoPhillips

In other news, CEO Ryan Michael Lance sold 113,221 shares of the company's stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $132.71, for a total value of $15,025,558.91. Following the transaction, the chief executive officer owned 350,000 shares in the company, valued at approximately $46,448,500. This represents a 24.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.09% of the company's stock.

ConocoPhillips Trading Up 0.4%

Shares of NYSE COP opened at $110.15 on Wednesday. ConocoPhillips has a 1 year low of $85.57 and a 1 year high of $135.87. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14. The firm has a 50-day moving average of $118.13 and a 200 day moving average of $111.67. The stock has a market cap of $134.20 billion, a P/E ratio of 18.70, a price-to-earnings-growth ratio of 1.21 and a beta of 0.11.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, beating analysts' consensus estimates of $1.72 by $0.17. The business had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The business's revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.09 earnings per share. As a group, sell-side analysts expect that ConocoPhillips will post 10.03 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 11th were paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Monday, May 11th. ConocoPhillips's dividend payout ratio (DPR) is currently 57.05%.

ConocoPhillips Profile

ConocoPhillips NYSE: COP is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company's activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.

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