Rice Partnership LLC Grows Stock Holdings in ConocoPhillips (NYSE:COP)

Rice Partnership LLC lifted its holdings in ConocoPhillips (NYSE:COP - Free Report) by 6.0% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 73,836 shares of the energy producer's stock after purchasing an additional 4,206 shares during the period. ConocoPhillips comprises approximately 1.6% of Rice Partnership LLC's holdings, making the stock its 21st biggest position. Rice Partnership LLC's holdings in ConocoPhillips were worth $7,754,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in COP. Vanguard Group Inc. grew its holdings in shares of ConocoPhillips by 11.7% in the fourth 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 raised its holdings in shares of ConocoPhillips by 13.8% in the fourth 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 acquiring an additional 5,549,078 shares in the last quarter. Capital International Investors raised its holdings in shares of ConocoPhillips by 4.9% in the fourth quarter. Capital International Investors now owns 31,287,113 shares of the energy producer's stock valued at $3,101,989,000 after acquiring an additional 1,473,027 shares in the last quarter. Geode Capital Management LLC grew its stake in ConocoPhillips by 13.7% in the fourth 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 during the last quarter. Finally, Invesco Ltd. grew its stake in shares of ConocoPhillips by 37.1% during the fourth quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer's stock worth $1,544,101,000 after acquiring an additional 4,211,939 shares during the last quarter. Institutional investors own 82.36% of the company's stock.

Insider Buying and Selling at ConocoPhillips

In other news, EVP Kirk L. Johnson acquired 5,300 shares of the firm's stock in a transaction on Monday, June 16th. The stock was purchased at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the purchase, the executive vice president owned 14,527 shares in the company, valued at approximately $1,369,024.48. This represents a 57.44% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.24% of the stock is owned by corporate insiders.

ConocoPhillips Stock Performance

Shares of NYSE:COP traded down $1.12 during trading on Monday, reaching $92.56. 6,271,417 shares of the stock were exchanged, compared to its average volume of 7,608,821. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $118.40. The firm has a market cap of $117.01 billion, a PE ratio of 11.76, a PEG ratio of 2.53 and a beta of 0.61. The stock has a 50-day moving average price of $90.23 and a 200-day moving average price of $94.80. The company has a current ratio of 1.27, a quick ratio of 1.13 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly 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. The company had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. ConocoPhillips had a net margin of 16.02% and a return on equity of 16.54%. During the same period in the prior year, the business earned $2.05 earnings per share. Research analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently disclosed 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. The ex-dividend date was Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.37%. ConocoPhillips's dividend payout ratio (DPR) is presently 39.64%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on COP shares. Bank of America dropped their price objective on shares of ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. JPMorgan Chase & Co. lowered their target price on shares of ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Royal Bank Of Canada reduced their price target on ConocoPhillips from $120.00 to $115.00 and set an "outperform" rating on the stock in a report on Friday, May 30th. Morgan Stanley boosted their price objective on shares of ConocoPhillips from $116.00 to $118.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Finally, Piper Sandler boosted their price target on shares of ConocoPhillips from $107.00 to $113.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 2nd. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $121.80.

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.