ConocoPhillips (NYSE:COP) Shares Purchased by Sendero Wealth Management LLC

Sendero Wealth Management LLC lifted its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 117.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 111,096 shares of the energy producer's stock after purchasing an additional 59,893 shares during the period. ConocoPhillips accounts for about 1.6% of Sendero Wealth Management LLC's holdings, making the stock its 12th biggest position. Sendero Wealth Management LLC's holdings in ConocoPhillips were worth $11,667,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Principle Wealth Partners LLC lifted its stake in shares of ConocoPhillips by 0.3% during the 4th quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer's stock valued at $3,695,000 after buying an additional 100 shares in the last quarter. Arlington Trust Co LLC lifted its position in ConocoPhillips by 1.2% during the fourth quarter. Arlington Trust Co LLC now owns 8,640 shares of the energy producer's stock valued at $857,000 after purchasing an additional 102 shares during the last quarter. Gray Wealth Management Inc. increased its stake in ConocoPhillips by 5.0% in the fourth quarter. Gray Wealth Management Inc. now owns 2,171 shares of the energy producer's stock valued at $215,000 after acquiring an additional 104 shares during the last quarter. Plancorp LLC raised its stake 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 acquiring an additional 104 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC raised its position in ConocoPhillips by 3.7% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 2,912 shares of the energy producer's stock worth $289,000 after purchasing an additional 105 shares during the period. Hedge funds and other institutional investors own 82.36% of the company's stock.

ConocoPhillips Stock Performance

Shares of NYSE COP traded down $0.67 during trading on Thursday, reaching $85.28. 5,109,337 shares of the company traded hands, compared to its average volume of 7,383,253. The firm's fifty day simple moving average is $89.50 and its 200 day simple moving average is $96.91. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The stock has a market cap of $107.80 billion, a P/E ratio of 10.95, a PEG ratio of 0.79 and a beta of 0.61. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $118.40.

ConocoPhillips (NYSE:COP - Get Free Report) last released its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.04. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. The business had revenue of $16.18 billion for the quarter, compared to the consensus estimate of $15.74 billion. During the same quarter last year, the business posted $2.05 earnings per share. As a group, research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.66%. The ex-dividend date was Monday, May 19th. ConocoPhillips's payout ratio is currently 39.64%.

Wall Street Analyst Weigh In

COP has been the subject of several recent analyst reports. Raymond James reaffirmed an "outperform" rating and set a $109.00 price objective (up from $103.00) on shares of ConocoPhillips in a research note on Tuesday, May 20th. Royal Bank of Canada decreased their price target on ConocoPhillips from $120.00 to $115.00 and set an "outperform" rating for the company in a research note on Friday, May 30th. Morgan Stanley raised their target price on ConocoPhillips from $116.00 to $118.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Bank of America cut their price objective on ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd. Finally, Mizuho cut their price objective on shares of ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating for the company 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 assigned a strong buy rating to the company's stock. According to MarketBeat.com, ConocoPhillips has an average rating of "Moderate Buy" and a consensus price target of $121.63.

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.