Proficio Capital Partners LLC Acquires 8,761 Shares of ConocoPhillips (NYSE:COP)

Proficio Capital Partners LLC boosted its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 59.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 23,494 shares of the energy producer's stock after purchasing an additional 8,761 shares during the quarter. Proficio Capital Partners LLC's holdings in ConocoPhillips were worth $2,467,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of COP. Second Line Capital LLC raised its holdings in shares of ConocoPhillips by 2.2% in the fourth quarter. Second Line Capital LLC now owns 4,990 shares of the energy producer's stock valued at $495,000 after acquiring an additional 108 shares in the last quarter. Meiji Yasuda Life Insurance Co increased its stake in shares of ConocoPhillips by 1.6% in the 4th quarter. Meiji Yasuda Life Insurance Co now owns 7,091 shares of the energy producer's stock worth $703,000 after acquiring an additional 110 shares during the last quarter. LRI Investments LLC increased its position in shares of ConocoPhillips by 3.6% during the 4th quarter. LRI Investments LLC now owns 3,184 shares of the energy producer's stock worth $316,000 after purchasing an additional 110 shares during the last quarter. Deseret Mutual Benefit Administrators grew its position in shares of ConocoPhillips by 3.9% during the first quarter. Deseret Mutual Benefit Administrators now owns 3,177 shares of the energy producer's stock worth $334,000 after buying an additional 118 shares in the last quarter. Finally, Zions Bancorporation N.A. lifted its stake in ConocoPhillips by 29.3% during the fourth quarter. Zions Bancorporation N.A. now owns 529 shares of the energy producer's stock worth $52,000 after purchasing an additional 120 shares during the last quarter. Institutional investors own 82.36% of the company's stock.

ConocoPhillips Stock Performance

Shares of NYSE COP traded up $1.57 during midday trading on Tuesday, reaching $92.57. 1,724,670 shares of the company were exchanged, compared to its average volume of 7,611,775. The company has a current ratio of 1.27, a quick ratio of 1.13 and a debt-to-equity ratio of 0.36. The stock has a market cap of $117.02 billion, a P/E ratio of 11.74, a PEG ratio of 2.43 and a beta of 0.61. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $116.08. The stock has a fifty day simple moving average of $91.03 and a 200 day simple moving average of $94.53.

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

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were issued a dividend of $0.78 per share. The ex-dividend date was Monday, May 19th. This represents a $3.12 annualized dividend and a yield of 3.37%. ConocoPhillips's payout ratio is 39.64%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on COP. Royal Bank Of Canada reduced their target price on ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating on the stock in a research report on Friday, July 11th. Bank of America lowered their price objective on ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. Scotiabank set a $100.00 price target on ConocoPhillips and gave the company a "sector perform" rating in a research note on Friday, July 11th. Piper Sandler reiterated an "overweight" rating and set a $123.00 price target (up previously from $113.00) on shares of ConocoPhillips in a report on Tuesday, July 15th. Finally, Mizuho lowered their price objective on shares of ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $120.94.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, EVP Kirk L. Johnson purchased 5,300 shares of ConocoPhillips stock in a transaction on Monday, June 16th. The shares were acquired at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the completion of the transaction, the executive vice president directly owned 14,527 shares of the company's stock, valued at approximately $1,369,024.48. The trade was a 57.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.24% of the company's stock.

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.

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