Riversedge Advisors LLC Purchases Shares of 2,657 ConocoPhillips (NYSE:COP)

Riversedge Advisors LLC acquired a new stake in ConocoPhillips (NYSE:COP - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,657 shares of the energy producer's stock, valued at approximately $279,000.

Several other institutional investors also recently bought and sold shares of COP. Price T Rowe Associates Inc. MD boosted its stake in ConocoPhillips by 13.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer's stock worth $4,546,706,000 after buying an additional 5,549,078 shares during the last quarter. Elevation Point Wealth Partners LLC boosted its stake in ConocoPhillips by 83.0% during the first quarter. Elevation Point Wealth Partners LLC now owns 18,060 shares of the energy producer's stock worth $1,897,000 after buying an additional 8,189 shares during the last quarter. Schwartz Investment Counsel Inc. boosted its stake in ConocoPhillips by 159.6% during the first quarter. Schwartz Investment Counsel Inc. now owns 48,800 shares of the energy producer's stock worth $5,125,000 after buying an additional 30,000 shares during the last quarter. Hennessy Advisors Inc. boosted its stake in ConocoPhillips by 151.1% during the first quarter. Hennessy Advisors Inc. now owns 91,224 shares of the energy producer's stock worth $9,580,000 after buying an additional 54,900 shares during the last quarter. Finally, ORG Wealth Partners LLC boosted its stake in ConocoPhillips by 853.3% during the first quarter. ORG Wealth Partners LLC now owns 6,616 shares of the energy producer's stock worth $698,000 after buying an additional 5,922 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Insider Activity at ConocoPhillips

In related news, EVP Kirk L. Johnson acquired 5,300 shares of the stock in a transaction dated Monday, June 16th. The stock was acquired at an average cost 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 in the company, valued at $1,369,024.48. This represents a 57.44% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.24% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on COP shares. Scotiabank boosted their price objective on ConocoPhillips from $95.00 to $100.00 and gave the stock a "sector perform" rating in a research note on Friday. Barclays reduced their target price on ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Piper Sandler lifted their target price on ConocoPhillips from $107.00 to $113.00 and gave the company an "overweight" rating in a research report on Wednesday, July 2nd. Citigroup reduced 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. Finally, Morgan Stanley lifted their target price on ConocoPhillips from $116.00 to $118.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $122.15.

ConocoPhillips Trading Up 0.3%

Shares of NYSE COP traded up $0.29 during trading on Friday, reaching $95.66. The stock had a trading volume of 4,903,410 shares, compared to its average volume of 7,661,071. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $118.40. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.13 and a current ratio of 1.27. The business's 50-day moving average price is $90.58 and its 200-day moving average price is $94.75. The company has a market cap of $120.93 billion, a P/E ratio of 12.16, a PEG ratio of 2.58 and a beta of 0.61.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, beating 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 business had revenue of $16.18 billion during the quarter, compared to analysts' expectations of $15.74 billion. During the same quarter last year, the business posted $2.05 EPS. On average, equities research analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

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. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date was Monday, May 19th. ConocoPhillips's dividend payout ratio 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.