Obermeyer Wealth Partners Buys New Stake in ConocoPhillips (NYSE:COP)

Obermeyer Wealth Partners purchased a new stake in shares of ConocoPhillips (NYSE:COP - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,249 shares of the energy producer's stock, valued at approximately $322,000.

A number of other large investors have also added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its stake 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 worth $4,546,706,000 after acquiring an additional 5,549,078 shares during the last quarter. Leavell Investment Management Inc. boosted its stake in shares of ConocoPhillips by 59.8% during the 4th quarter. Leavell Investment Management Inc. now owns 19,166 shares of the energy producer's stock worth $1,901,000 after acquiring an additional 7,174 shares during the last quarter. Brookstone Capital Management boosted its stake in shares of ConocoPhillips by 4.5% during the 4th quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer's stock worth $878,000 after acquiring an additional 383 shares during the last quarter. Heck Capital Advisors LLC purchased a new position in shares of ConocoPhillips during the 4th quarter worth $1,767,000. Finally, Asset Management One Co. Ltd. boosted its stake in shares of ConocoPhillips by 11.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 519,371 shares of the energy producer's stock worth $50,345,000 after acquiring an additional 54,196 shares during the last quarter. Institutional investors own 82.36% of the company's stock.

Analyst Upgrades and Downgrades

COP has been the topic of a number of research reports. Susquehanna reduced their price target on shares of ConocoPhillips from $120.00 to $114.00 and set a "positive" rating on the stock in a report on Monday, May 12th. Scotiabank reduced their price target on shares of ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating on the stock in a report on Friday, April 11th. Bank of America downgraded shares of ConocoPhillips from a "buy" rating to a "neutral" rating and reduced their price target for the company from $138.00 to $107.00 in a report on Tuesday, April 29th. UBS Group reduced their price target on shares of ConocoPhillips from $116.00 to $111.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Finally, Raymond James downgraded shares of ConocoPhillips from a "strong-buy" rating to an "outperform" rating and reduced their price target for the company from $157.00 to $124.00 in a report on Monday, February 10th. Three research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, ConocoPhillips has a consensus rating of "Moderate Buy" and a consensus price target of $122.74.

ConocoPhillips Stock Down 0.7%

Shares of COP traded down $0.62 during mid-day trading on Friday, hitting $92.34. The company's stock had a trading volume of 6,693,880 shares, compared to its average volume of 7,325,888. The company's 50-day moving average is $93.24 and its 200-day moving average is $99.03. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $122.11. The firm has a market capitalization of $116.73 billion, a price-to-earnings ratio of 11.85, a PEG ratio of 0.79 and a beta of 0.64. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly 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 net margin of 16.23% and a return on equity of 17.26%. The firm had revenue of $16.18 billion during the quarter, compared to analysts' expectations of $15.74 billion. During the same quarter in the prior year, the company earned $2.05 EPS. On average, equities research analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be given a $0.78 dividend. The ex-dividend date is Monday, May 19th. This represents a $3.12 annualized dividend and a dividend yield of 3.38%. ConocoPhillips's 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.