ConocoPhillips (NYSE:COP) Stake Raised by Novem Group

Novem Group lifted its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 12.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,694 shares of the energy producer's stock after buying an additional 5,135 shares during the period. Novem Group's holdings in ConocoPhillips were worth $4,904,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in ConocoPhillips by 11.7% in the 4th quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer's stock valued at $12,081,491,000 after purchasing an additional 12,751,120 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in ConocoPhillips by 13.8% in 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 purchasing an additional 5,549,078 shares in the last quarter. Capital International Investors increased its holdings in ConocoPhillips by 4.9% in 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 purchasing an additional 1,473,027 shares in the last quarter. Geode Capital Management LLC increased its holdings in ConocoPhillips by 13.7% in the 4th quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer's stock valued at $2,792,521,000 after purchasing an additional 3,397,360 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in ConocoPhillips by 37.1% in the 4th quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer's stock valued at $1,544,101,000 after purchasing an additional 4,211,939 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Down 0.2%

NYSE:COP traded down $0.16 during mid-day trading on Friday, reaching $94.28. The stock had a trading volume of 4,331,501 shares, compared to its average volume of 7,614,130. The company has a market capitalization of $119.19 billion, a price-to-earnings ratio of 11.98, a price-to-earnings-growth ratio of 2.53 and a beta of 0.61. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $118.40. The stock's 50 day simple moving average is $90.23 and its two-hundred day simple moving average is $94.81. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.27 and a quick ratio of 1.13.

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 analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $15.74 billion. During the same period in the previous year, the firm posted $2.05 earnings per share. Equities analysts anticipate 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 paid a $0.78 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a yield of 3.31%. ConocoPhillips's payout ratio is currently 39.64%.

Insider Buying and Selling

In related news, EVP Kirk L. Johnson bought 5,300 shares of the firm's stock in a transaction on Monday, June 16th. The stock was bought at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the completion of the purchase, the executive vice president directly owned 14,527 shares in the company, valued at approximately $1,369,024.48. The trade was a 57.44% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.24% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Citigroup lowered their price target on ConocoPhillips from $140.00 to $115.00 and set a "buy" rating for the company in a report on Wednesday, June 11th. Raymond James Financial restated an "outperform" rating and set a $109.00 target price (up from $103.00) on shares of ConocoPhillips in a research note on Tuesday, May 20th. Bank of America lowered their target price on ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd. Wells Fargo & Company restated an "overweight" rating and set a $117.00 target price (up from $113.00) on shares of ConocoPhillips in a research note on Thursday, June 26th. Finally, JPMorgan Chase & Co. lowered their target price on ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $121.80.

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.