30,979 Shares in ConocoPhillips (NYSE:COP) Acquired by Wills Financial Group LLC

Key Points

• Wills Financial Group LLC has acquired 30,979 shares of ConocoPhillips, valued at approximately $3.25 million, making this investment 1.4% of its portfolio and its 28th largest holding.
• ConocoPhillips reported a quarterly earnings of $2.09 per share, surpassing estimates, along with a revenue of $16.18 billion, indicating strong financial performance.
• The company recently declared a quarterly dividend of $0.78 per share, translating to an annualized dividend yield of 3.4%, with a payout ratio of 39.64%.

Wills Financial Group LLC acquired a new position in shares of ConocoPhillips (NYSE:COP - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 30,979 shares of the energy producer's stock, valued at approximately $3,253,000. ConocoPhillips accounts for about 1.4% of Wills Financial Group LLC's holdings, making the stock its 28th largest holding.

Other hedge funds have also modified their holdings of the company. Second Line Capital LLC lifted its position in ConocoPhillips by 2.2% during the 4th quarter. Second Line Capital LLC now owns 4,990 shares of the energy producer's stock worth $495,000 after buying an additional 108 shares in the last quarter. Meiji Yasuda Life Insurance Co boosted its position in ConocoPhillips by 1.6% during the fourth quarter. Meiji Yasuda Life Insurance Co now owns 7,091 shares of the energy producer's stock valued at $703,000 after purchasing an additional 110 shares during the last quarter. LRI Investments LLC grew its stake in ConocoPhillips by 3.6% in the fourth quarter. LRI Investments LLC now owns 3,184 shares of the energy producer's stock valued at $316,000 after purchasing an additional 110 shares in the last quarter. Deseret Mutual Benefit Administrators raised its stake in shares of ConocoPhillips by 3.9% during the 1st quarter. Deseret Mutual Benefit Administrators now owns 3,177 shares of the energy producer's stock worth $334,000 after purchasing an additional 118 shares in the last quarter. Finally, Northeast Financial Consultants Inc raised its stake in shares of ConocoPhillips by 2.9% during the 4th quarter. Northeast Financial Consultants Inc now owns 4,361 shares of the energy producer's stock worth $432,000 after purchasing an additional 122 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Kirk L. Johnson purchased 5,300 shares of the company's stock in a transaction dated 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 purchase, the executive vice president owned 14,527 shares of the company's stock, valued at approximately $1,369,024.48. The trade was a 57.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.24% of the stock is owned by corporate insiders.

ConocoPhillips Price Performance

ConocoPhillips stock traded up $0.09 during trading hours on Wednesday, reaching $93.29. 6,820,424 shares of the stock were exchanged, compared to its average volume of 5,628,489. The company has a current ratio of 1.27, a quick ratio of 1.13 and a debt-to-equity ratio of 0.36. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $116.08. The company has a market cap of $117.93 billion, a P/E ratio of 11.85, a price-to-earnings-growth ratio of 2.43 and a beta of 0.67. The stock has a 50 day moving average of $92.28 and a two-hundred day moving average of $93.89.

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, topping 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 firm had revenue of $16.18 billion during the quarter, compared to analysts' expectations of $15.74 billion. During the same period in the prior year, the company earned $2.05 earnings per share. Equities analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were given a $0.78 dividend. The ex-dividend date was Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a yield of 3.3%. ConocoPhillips's dividend payout ratio (DPR) is currently 39.64%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Barclays dropped their price target on shares of ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Citigroup dropped their price objective on ConocoPhillips from $140.00 to $115.00 and set a "buy" rating on the stock in a research note on Wednesday, June 11th. Morgan Stanley reiterated an "overweight" rating and set a $119.00 target price on shares of ConocoPhillips in a research note on Tuesday, July 15th. UBS Group increased their price target on ConocoPhillips from $111.00 to $115.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Finally, Raymond James Financial lifted their price objective on shares of ConocoPhillips from $109.00 to $117.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, ConocoPhillips presently has an average rating of "Moderate Buy" and a consensus target price 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.