MQS Management LLC Takes Position in ConocoPhillips (NYSE:COP)

MQS Management LLC acquired a new stake in shares of ConocoPhillips (NYSE:COP - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 9,261 shares of the energy producer's stock, valued at approximately $973,000. ConocoPhillips comprises about 0.6% of MQS Management LLC's investment portfolio, making the stock its 12th largest position.

Other institutional investors have also recently bought and sold shares of the company. Proficio Capital Partners LLC lifted its position in shares of ConocoPhillips by 21.3% in the fourth quarter. Proficio Capital Partners LLC now owns 14,733 shares of the energy producer's stock worth $1,461,000 after buying an additional 2,591 shares during the last quarter. PFG Advisors lifted its position in shares of ConocoPhillips by 41.8% in the fourth quarter. PFG Advisors now owns 6,614 shares of the energy producer's stock worth $656,000 after buying an additional 1,949 shares during the last quarter. Vestcor Inc lifted its position in shares of ConocoPhillips by 8.6% in the fourth quarter. Vestcor Inc now owns 24,596 shares of the energy producer's stock worth $2,439,000 after buying an additional 1,947 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in shares of ConocoPhillips by 2.7% in the fourth quarter. Commonwealth Equity Services LLC now owns 400,310 shares of the energy producer's stock worth $39,699,000 after buying an additional 10,352 shares during the last quarter. Finally, Impact Capital Partners LLC acquired a new stake in shares of ConocoPhillips in the fourth quarter worth about $212,000. Institutional investors and hedge funds own 82.36% of the company's stock.

Insider Buying and Selling at ConocoPhillips

In related news, EVP Kirk L. Johnson acquired 5,300 shares of the stock in a transaction dated Monday, June 16th. The shares were bought at an average cost 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. This trade represents a 57.44% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Scotiabank boosted their price target on ConocoPhillips from $95.00 to $100.00 and gave the stock a "sector perform" rating in a research report on Friday. Citigroup reduced their price target on ConocoPhillips from $140.00 to $115.00 and set a "buy" rating for the company in a research report on Wednesday, June 11th. Piper Sandler boosted their price objective on ConocoPhillips from $107.00 to $113.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 2nd. Raymond James Financial reissued an "outperform" rating and set a $109.00 price objective (up previously from $103.00) on shares of ConocoPhillips in a research report on Tuesday, May 20th. Finally, Mizuho cut their price objective on ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $122.15.

ConocoPhillips Stock Performance

ConocoPhillips stock traded up $0.29 during trading hours on Friday, hitting $95.66. The stock had a trading volume of 4,903,410 shares, compared to its average volume of 7,661,071. The company has a 50-day moving average of $90.58 and a two-hundred day moving average of $94.75. The company has a quick ratio of 1.13, a current ratio of 1.27 and a debt-to-equity ratio of 0.36. The company has a market cap of $120.93 billion, a PE ratio of 12.16, a price-to-earnings-growth ratio of 2.58 and a beta of 0.61. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $118.40.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly 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. The firm had revenue of $16.18 billion during the quarter, compared to analysts' expectations 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 posted $2.05 EPS. On average, equities research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were paid a $0.78 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $3.12 annualized dividend and a dividend yield of 3.26%. ConocoPhillips's dividend payout ratio is currently 39.64%.

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.