Portside Wealth Group LLC Has $1.24 Million Stock Holdings in ConocoPhillips (NYSE:COP)

Portside Wealth Group LLC boosted its stake in ConocoPhillips (NYSE:COP - Free Report) by 45.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,514 shares of the energy producer's stock after acquiring an additional 3,937 shares during the period. Portside Wealth Group LLC's holdings in ConocoPhillips were worth $1,241,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in COP. Murphy & Mullick Capital Management Corp purchased a new position in shares of ConocoPhillips in the 4th quarter worth about $26,000. Centricity Wealth Management LLC purchased a new position in shares of ConocoPhillips in the 4th quarter worth about $27,000. 10Elms LLP purchased a new position in shares of ConocoPhillips in the 4th quarter worth about $28,000. Crowley Wealth Management Inc. purchased a new position in ConocoPhillips in the 4th quarter worth about $32,000. Finally, Wingate Wealth Advisors Inc. purchased a new position in ConocoPhillips in the 4th quarter worth about $36,000. Institutional investors own 82.36% of the company's stock.

Analyst Ratings Changes

COP has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased their target price on ConocoPhillips from $116.00 to $113.00 and set an "overweight" rating for the company in a research report on Wednesday, May 14th. Raymond James reaffirmed an "outperform" rating and set a $109.00 price target (up previously from $103.00) on shares of ConocoPhillips in a research report on Tuesday, May 20th. Bank of America reduced their price target on shares of ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Morgan Stanley upped their price target on shares of ConocoPhillips from $116.00 to $118.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Finally, Barclays reduced their price target on shares of ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Three investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $121.63.

ConocoPhillips Price Performance

NYSE COP traded down $0.67 during mid-day trading on Thursday, hitting $85.28. The stock had a trading volume of 5,109,337 shares, compared to its average volume of 7,392,310. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $118.40. The company has a market cap of $107.80 billion, a price-to-earnings ratio of 10.95, a P/E/G ratio of 0.79 and a beta of 0.61. The company has a 50 day simple moving average of $89.50 and a 200 day simple moving average of $96.91. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.05 by $0.04. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. The business had revenue of $16.18 billion during the quarter, compared to analyst estimates of $15.74 billion. During the same quarter last year, the firm earned $2.05 earnings per share. Equities analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date was Monday, May 19th. ConocoPhillips's dividend payout ratio (DPR) is presently 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.