Peterson Wealth Services Purchases 24,381 Shares of ConocoPhillips (NYSE:COP)

Peterson Wealth Services increased its stake in ConocoPhillips (NYSE:COP - Free Report) by 68.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,189 shares of the energy producer's stock after acquiring an additional 24,381 shares during the period. ConocoPhillips makes up approximately 2.0% of Peterson Wealth Services' investment portfolio, making the stock its 13th biggest position. Peterson Wealth Services' holdings in ConocoPhillips were worth $6,321,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in COP. Murphy & Mullick Capital Management Corp bought a new position in ConocoPhillips in the fourth quarter worth approximately $26,000. 10Elms LLP purchased a new position in ConocoPhillips in the fourth quarter worth $28,000. Crowley Wealth Management Inc. purchased a new position in ConocoPhillips in the fourth quarter worth $32,000. Garde Capital Inc. purchased a new position in ConocoPhillips in the first quarter worth $35,000. Finally, Fourth Dimension Wealth LLC purchased a new position in ConocoPhillips in the fourth quarter worth $39,000. Hedge funds and other institutional investors own 82.36% of the company's stock.

Insider Transactions at ConocoPhillips

In related news, EVP Kirk L. Johnson acquired 5,300 shares of the business's stock in a transaction dated Monday, June 16th. The stock was acquired at an average price of $94.24 per share, with a total value of $499,472.00. Following the completion of the transaction, the executive vice president owned 14,527 shares of the company's stock, valued at approximately $1,369,024.48. This represents a 57.44% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.24% of the company's stock.

Analyst Ratings Changes

COP has been the topic of several recent analyst reports. Raymond James Financial increased their target price on shares of ConocoPhillips from $109.00 to $117.00 and gave the stock an "outperform" rating in a research note on Tuesday. Scotiabank set a $100.00 target price on ConocoPhillips and gave the company a "sector perform" rating in a research report on Friday, July 11th. Citigroup dropped their target price on ConocoPhillips from $140.00 to $115.00 and set a "buy" rating on the stock in a research report on Wednesday, June 11th. Barclays decreased their price target on shares of ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and issued a $117.00 price target (up from $113.00) on shares of ConocoPhillips in a research note on Thursday, June 26th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat.com, ConocoPhillips currently has an average rating of "Moderate Buy" and an average price target of $121.39.

ConocoPhillips Stock Performance

Shares of COP traded up $2.05 during mid-day trading on Tuesday, reaching $93.05. 5,543,922 shares of the company's stock traded hands, compared to its average volume of 7,626,031. The business's 50-day moving average price is $91.03 and its 200-day moving average price is $94.53. The stock has a market capitalization of $117.63 billion, a P/E ratio of 11.82, a price-to-earnings-growth ratio of 2.43 and a beta of 0.61. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.13 and a current ratio of 1.27. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $116.08.

ConocoPhillips (NYSE:COP - Get Free Report) last released its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, topping analysts' consensus estimates of $2.05 by $0.04. The firm had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. During the same period in the prior year, the firm posted $2.05 earnings per share. Equities analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.35%. The ex-dividend date was Monday, May 19th. ConocoPhillips's dividend payout ratio is currently 39.64%.

About ConocoPhillips

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.