Synergy Asset Management LLC Acquires 11,659 Shares of ConocoPhillips (NYSE:COP)

Synergy Asset Management LLC grew its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 2,179.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,194 shares of the energy producer's stock after acquiring an additional 11,659 shares during the quarter. Synergy Asset Management LLC's holdings in ConocoPhillips were worth $1,281,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of COP. Gray Wealth Management Inc. grew its position in ConocoPhillips by 5.0% in the 4th quarter. Gray Wealth Management Inc. now owns 2,171 shares of the energy producer's stock worth $215,000 after purchasing an additional 104 shares during the period. Plancorp LLC grew its holdings in shares of ConocoPhillips by 2.7% in 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 during the period. Thompson Siegel & Walmsley LLC grew its stake in shares of ConocoPhillips by 3.7% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 2,912 shares of the energy producer's stock valued at $289,000 after purchasing an additional 105 shares during the period. Councilmark Asset Management LLC grew its stake in shares of ConocoPhillips by 0.5% during the 4th quarter. Councilmark Asset Management LLC now owns 19,639 shares of the energy producer's stock valued at $1,948,000 after purchasing an additional 106 shares during the period. Finally, Second Line Capital LLC grew its stake in shares of ConocoPhillips by 2.2% during the 4th quarter. Second Line Capital LLC now owns 4,990 shares of the energy producer's stock valued at $495,000 after purchasing an additional 108 shares during the period. Institutional investors own 82.36% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Scotiabank cut their target price on shares of ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating for the company in a research report on Friday, April 11th. Susquehanna cut their price objective on shares of ConocoPhillips from $120.00 to $114.00 and set a "positive" rating for the company in a research report on Monday, May 12th. Citigroup cut their price objective on shares of ConocoPhillips from $140.00 to $115.00 and set a "buy" rating for the company in a research report on Wednesday, June 11th. Bank of America cut their price target on ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Finally, Barclays cut their price target on ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $121.30.

ConocoPhillips Price Performance

COP stock opened at $94.76 on Friday. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $118.40. The company has a quick ratio of 1.13, a current ratio of 1.27 and a debt-to-equity ratio of 0.36. The company has a fifty day simple moving average of $89.65 and a two-hundred day simple moving average of $95.46. The firm has a market capitalization of $119.79 billion, a P/E ratio of 12.04, a price-to-earnings-growth ratio of 2.56 and a beta of 0.61.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $15.74 billion. During the same quarter last year, the firm earned $2.05 EPS. Analysts anticipate that ConocoPhillips will post 8.16 earnings per share 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 paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips's payout ratio is 39.64%.

Insider Activity

In related news, EVP Kirk L. Johnson purchased 5,300 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was bought 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 now directly owns 14,527 shares in the company, valued at $1,369,024.48. This represents a 57.44% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate 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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