Wakefield Asset Management LLLP Makes New $382,000 Investment in ConocoPhillips (NYSE:COP)

Wakefield Asset Management LLLP bought a new stake in ConocoPhillips (NYSE:COP - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,634 shares of the energy producer's stock, valued at approximately $382,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its position 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 valued at $4,546,706,000 after purchasing an additional 5,549,078 shares in the last quarter. Elevation Point Wealth Partners LLC boosted its holdings in shares of ConocoPhillips by 83.0% in 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 period. Schwartz Investment Counsel Inc. boosted its holdings in shares of ConocoPhillips by 159.6% in 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 period. ORG Wealth Partners LLC boosted its holdings in shares of ConocoPhillips by 853.3% in 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 period. Finally, Hennessy Advisors Inc. boosted its holdings in shares of ConocoPhillips by 151.1% in 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 period. Institutional investors own 82.36% of the company's stock.

Insider Activity

In related news, EVP Kirk L. Johnson acquired 5,300 shares of the stock in a transaction dated Monday, June 16th. The shares were acquired at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the completion of the purchase, the executive vice president owned 14,527 shares in the company, valued at approximately $1,369,024.48. The trade was a 57.44% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.24% of the company's stock.

ConocoPhillips Stock Performance

COP stock traded down $0.66 during midday trading on Friday, hitting $94.96. 4,501,311 shares of the company traded hands, compared to its average volume of 6,076,577. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $116.08. 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 business has a 50 day simple moving average of $91.14 and a 200-day simple moving average of $94.34. The stock has a market capitalization of $120.04 billion, a price-to-earnings ratio of 12.07, a price-to-earnings-growth ratio of 2.47 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 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 company 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 company posted $2.05 earnings per share. As a group, equities research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current 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 paid a $0.78 dividend. The ex-dividend date was Monday, May 19th. This represents a $3.12 annualized dividend and a dividend yield of 3.29%. ConocoPhillips's payout ratio is 39.64%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Mizuho decreased their target price 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. Wells Fargo & Company reiterated an "overweight" rating and issued a $117.00 target price (up from $113.00) on shares of ConocoPhillips in a report on Thursday, June 26th. Citigroup decreased their target price on shares of ConocoPhillips from $140.00 to $115.00 and set a "buy" rating for the company in a report on Wednesday, June 11th. Raymond James Financial raised their target price on shares of ConocoPhillips from $109.00 to $117.00 and gave the stock an "outperform" rating in a report on Tuesday, July 22nd. Finally, Barclays reduced their price target on shares of ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, ConocoPhillips presently has an average rating of "Moderate Buy" and an average price target of $121.33.

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.