Laird Norton Wetherby Wealth Management LLC Boosts Stock Holdings in ConocoPhillips (NYSE:COP)

Laird Norton Wetherby Wealth Management LLC increased its holdings in ConocoPhillips (NYSE:COP - Free Report) by 20.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,994 shares of the energy producer's stock after purchasing an additional 3,392 shares during the period. Laird Norton Wetherby Wealth Management LLC's holdings in ConocoPhillips were worth $1,983,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the business. Orrstown Financial Services Inc. increased its position in shares of ConocoPhillips by 3.0% during the 4th quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer's stock valued at $331,000 after purchasing an additional 96 shares during the last quarter. Principle Wealth Partners LLC raised its stake in shares of ConocoPhillips by 0.3% in the fourth quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer's stock valued at $3,695,000 after acquiring an additional 100 shares during the period. Arlington Trust Co LLC lifted its holdings in shares of ConocoPhillips by 1.2% in the 4th quarter. Arlington Trust Co LLC now owns 8,640 shares of the energy producer's stock worth $857,000 after acquiring an additional 102 shares during the last quarter. Courier Capital LLC boosted its stake in shares of ConocoPhillips by 0.5% during the 4th quarter. Courier Capital LLC now owns 20,481 shares of the energy producer's stock worth $2,031,000 after purchasing an additional 103 shares during the period. Finally, Gray Wealth Management Inc. grew its holdings in ConocoPhillips by 5.0% during the 4th quarter. Gray Wealth Management Inc. now owns 2,171 shares of the energy producer's stock valued at $215,000 after purchasing an additional 104 shares during the last quarter. Institutional investors own 82.36% of the company's stock.

Analyst Ratings Changes

COP has been the topic of a number of analyst reports. Barclays cut their target price on ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. TD Cowen initiated coverage on ConocoPhillips in a research report on Friday, January 17th. They issued a "buy" rating and a $125.00 price objective on the stock. UBS Group decreased their target price on ConocoPhillips from $116.00 to $111.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Morgan Stanley upped their price target on shares of ConocoPhillips from $116.00 to $118.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Finally, Raymond James lowered shares of ConocoPhillips from a "strong-buy" rating to an "outperform" rating and decreased their price objective for the company from $157.00 to $124.00 in a report on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $122.74.

ConocoPhillips Stock Down 0.7%

COP traded down $0.62 during trading on Friday, hitting $92.34. The stock had a trading volume of 6,693,880 shares, compared to its average volume of 7,305,174. The stock has a 50 day simple moving average of $93.30 and a two-hundred day simple moving average of $99.13. The company has a market capitalization of $116.73 billion, a PE ratio of 11.85, a PEG ratio of 0.79 and a beta of 0.64. 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 twelve month low of $79.88 and a twelve month high of $122.11.

ConocoPhillips (NYSE:COP - Get Free Report) last released 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. The company 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 period last year, the business posted $2.05 earnings per share. On average, research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.38%. The ex-dividend date is Monday, May 19th. ConocoPhillips's dividend payout ratio is presently 39.64%.

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.