Secure Asset Management LLC Acquires 3,507 Shares of ConocoPhillips (NYSE:COP)

Secure Asset Management LLC lifted its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 18.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,203 shares of the energy producer's stock after purchasing an additional 3,507 shares during the period. Secure Asset Management LLC's holdings in ConocoPhillips were worth $2,332,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD increased its stake in shares of ConocoPhillips by 13.8% during the 4th 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 purchasing an additional 5,549,078 shares in the last quarter. Leavell Investment Management Inc. increased its stake in shares of ConocoPhillips by 59.8% during the 4th quarter. Leavell Investment Management Inc. now owns 19,166 shares of the energy producer's stock worth $1,901,000 after purchasing an additional 7,174 shares in the last quarter. Asset Management One Co. Ltd. increased its stake in shares of ConocoPhillips by 11.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 519,371 shares of the energy producer's stock worth $50,345,000 after purchasing an additional 54,196 shares in the last quarter. New York State Teachers Retirement System increased its stake in shares of ConocoPhillips by 7.4% during the 4th quarter. New York State Teachers Retirement System now owns 1,170,901 shares of the energy producer's stock worth $116,118,000 after purchasing an additional 80,199 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund increased its stake in shares of ConocoPhillips by 26.2% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 43,384 shares of the energy producer's stock worth $4,302,000 after purchasing an additional 9,002 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Raymond James reaffirmed an "outperform" rating and issued a $109.00 target price (up from $103.00) on shares of ConocoPhillips in a research note on Tuesday, May 20th. Bank of America reduced their target price on shares of ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. JPMorgan Chase & Co. reduced their target price on shares of ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Royal Bank of Canada cut their price objective on shares of ConocoPhillips from $120.00 to $115.00 and set an "outperform" rating on the stock in a report on Friday, May 30th. Finally, Piper Sandler cut their price objective on shares of ConocoPhillips from $114.00 to $107.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Three analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $121.63.

ConocoPhillips Trading Up 2.1%

COP traded up $1.83 during trading on Friday, reaching $87.18. 6,040,860 shares of the company's stock were exchanged, compared to its average volume of 7,407,191. The company's fifty day moving average price is $88.74 and its 200-day moving average price is $96.54. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $118.40. The firm has a market capitalization of $110.21 billion, a PE ratio of 11.19, a P/E/G ratio of 0.79 and a beta of 0.61.

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

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were issued a $0.78 dividend. The ex-dividend date was Monday, May 19th. This represents a $3.12 annualized dividend and a yield of 3.58%. ConocoPhillips's dividend payout ratio is currently 39.64%.

About ConocoPhillips

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.