ConocoPhillips (NYSE:COP) Shares Acquired by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC lifted its stake in ConocoPhillips (NYSE:COP - Free Report) by 68.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 433,032 shares of the energy producer's stock after purchasing an additional 176,199 shares during the period. Silvercrest Asset Management Group LLC's holdings in ConocoPhillips were worth $42,944,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Albion Financial Group UT boosted its holdings in ConocoPhillips by 876.9% in the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer's stock worth $25,000 after buying an additional 228 shares during the period. Murphy & Mullick Capital Management Corp bought a new position in shares of ConocoPhillips during the 4th quarter valued at about $26,000. Centricity Wealth Management LLC bought a new position in shares of ConocoPhillips during the 4th quarter valued at about $27,000. Crowley Wealth Management Inc. bought a new position in shares of ConocoPhillips during the 4th quarter valued at about $32,000. Finally, Retirement Wealth Solutions LLC bought a new position in shares of ConocoPhillips during the 4th quarter valued at about $35,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on COP. Piper Sandler dropped their price objective on shares of ConocoPhillips from $114.00 to $107.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Barclays lowered their price target on shares of ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Wells Fargo & Company decreased their price objective on shares of ConocoPhillips from $116.00 to $113.00 and set an "overweight" rating for the company in a research note on Wednesday, May 14th. Mizuho reduced their target price on shares of ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Finally, Morgan Stanley raised their target price on shares of ConocoPhillips from $116.00 to $118.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $121.95.

ConocoPhillips Stock Performance

Shares of COP traded down $0.78 during trading hours on Tuesday, reaching $89.63. 5,292,278 shares of the company traded hands, compared to its average volume of 7,335,404. The stock has a market capitalization of $113.31 billion, a P/E ratio of 11.51, a P/E/G ratio of 0.79 and a beta of 0.64. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $121.73. The business has a fifty day moving average price of $93.09 and a 200-day moving average price of $98.84.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (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 the consensus estimate of $15.74 billion. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. During the same period in the previous year, the firm posted $2.05 earnings per share. Equities analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be given a dividend of $0.78 per share. The ex-dividend date is Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a yield of 3.48%. 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.