Private Advisor Group LLC Increases Holdings in ConocoPhillips (NYSE:COP)

Private Advisor Group LLC increased its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 7.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 85,254 shares of the energy producer's stock after acquiring an additional 5,874 shares during the quarter. Private Advisor Group LLC's holdings in ConocoPhillips were worth $8,953,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Harvest Fund Management Co. Ltd boosted its stake in ConocoPhillips by 14,262.5% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 1,149 shares of the energy producer's stock worth $114,000 after purchasing an additional 1,141 shares in the last quarter. TD Private Client Wealth LLC increased its holdings in ConocoPhillips by 12.5% in the 4th quarter. TD Private Client Wealth LLC now owns 21,692 shares of the energy producer's stock worth $2,151,000 after acquiring an additional 2,418 shares in the last quarter. Millstone Evans Group LLC purchased a new stake in ConocoPhillips in the 4th quarter worth $134,000. Plancorp LLC grew its holdings in shares of ConocoPhillips by 2.7% during the fourth quarter. Plancorp LLC now owns 4,018 shares of the energy producer's stock worth $399,000 after buying an additional 104 shares in the last quarter. Finally, Sei Investments Co. boosted its position in shares of ConocoPhillips by 22.9% during the 4th quarter. Sei Investments Co. now owns 750,440 shares of the energy producer's stock valued at $74,424,000 after acquiring an additional 140,026 shares during the last quarter. Institutional investors own 82.36% of the company's stock.

ConocoPhillips Price Performance

Shares of COP stock traded up $0.27 on Thursday, reaching $95.31. The company's stock had a trading volume of 1,602,466 shares, compared to its average volume of 8,263,672. The company has a quick ratio of 1.13, a current ratio of 1.27 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $116.08. The company has a market capitalization of $120.48 billion, a P/E ratio of 12.12, a PEG ratio of 2.46 and a beta of 0.61. The stock's 50 day simple moving average is $91.03 and its 200-day simple moving average is $94.46.

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, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $15.74 billion. During the same period last year, the firm earned $2.05 earnings per share. As a group, equities analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.27%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips's dividend payout ratio is currently 39.64%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on COP shares. Piper Sandler reaffirmed an "overweight" rating and issued a $123.00 target price (up previously from $113.00) on shares of ConocoPhillips in a research report on Tuesday, July 15th. Barclays lowered their target price on shares of ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Scotiabank set a $100.00 price target on ConocoPhillips and gave the stock a "sector perform" rating in a report on Friday, July 11th. Raymond James Financial raised their target price on ConocoPhillips from $109.00 to $117.00 and gave the company an "outperform" rating in a report on Tuesday. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $119.00 price target on shares of ConocoPhillips in a research note on Tuesday, July 15th. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $121.33.

Insider Buying and Selling

In other ConocoPhillips news, EVP Kirk L. Johnson bought 5,300 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were purchased at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the transaction, the executive vice president owned 14,527 shares of the company's stock, valued at $1,369,024.48. This represents a 57.44% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.24% of the stock is currently owned by insiders.

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.