ConocoPhillips (NYSE:COP) Shares Purchased by Scissortail Wealth Management LLC

Scissortail Wealth Management LLC grew its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 377,952.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 71,830 shares of the energy producer's stock after acquiring an additional 71,811 shares during the quarter. ConocoPhillips comprises approximately 1.8% of Scissortail Wealth Management LLC's holdings, making the stock its 17th largest holding. Scissortail Wealth Management LLC's holdings in ConocoPhillips were worth $7,123,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of COP. Albion Financial Group UT increased its stake in ConocoPhillips by 876.9% in the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer's stock worth $25,000 after purchasing an additional 228 shares during the period. Murphy & Mullick Capital Management Corp purchased a new stake in ConocoPhillips in the fourth quarter worth $26,000. Centricity Wealth Management LLC purchased a new stake in ConocoPhillips in the fourth quarter worth $27,000. Crowley Wealth Management Inc. purchased a new stake in ConocoPhillips in the fourth quarter worth $32,000. Finally, Marshall Investment Management LLC purchased a new stake in ConocoPhillips in the fourth quarter worth $36,000. Hedge funds and other institutional investors own 82.36% of the company's stock.

ConocoPhillips Trading Down 0.9%

NYSE COP traded down $0.78 on Tuesday, reaching $89.63. 5,292,278 shares of the company were exchanged, compared to its average volume of 7,335,404. The business's fifty day moving average price is $93.09 and its 200 day moving average price is $98.84. The stock has a market capitalization of $113.31 billion, a P/E ratio of 11.51, a price-to-earnings-growth 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 has a fifty-two week low of $79.88 and a fifty-two week high of $121.73.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its 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 return on equity of 17.26% and a net margin of 16.23%. The company had revenue of $16.18 billion for the quarter, compared to the consensus estimate of $15.74 billion. During the same quarter in the previous year, the business earned $2.05 earnings per share. Analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be issued a $0.78 dividend. The ex-dividend date is Monday, May 19th. This represents a $3.12 annualized dividend and a dividend yield of 3.48%. ConocoPhillips's dividend payout ratio is presently 39.64%.

Analysts Set New Price Targets

A number of analysts have weighed in on COP shares. Morgan Stanley increased their target price on ConocoPhillips from $116.00 to $118.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Mizuho dropped their price target on ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Susquehanna dropped their price target on ConocoPhillips from $120.00 to $114.00 and set a "positive" rating on the stock in a research report on Monday, May 12th. JPMorgan Chase & Co. dropped their price target on ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Finally, The Goldman Sachs Group set a $132.00 price target on ConocoPhillips in a research note on Thursday, January 30th. Three 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $121.95.

About ConocoPhillips

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.