ConocoPhillips (NYSE:COP) Shares Purchased by Naviter Wealth LLC

Naviter Wealth LLC grew its holdings in shares of ConocoPhillips (NYSE:COP) by 1.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,819 shares of the energy producer’s stock after purchasing an additional 266 shares during the period. Naviter Wealth LLC’s holdings in ConocoPhillips were worth $3,032,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in COP. Dark Forest Capital Management LP bought a new stake in shares of ConocoPhillips in the 3rd quarter valued at approximately $247,000. Waverly Advisors LLC lifted its stake in shares of ConocoPhillips by 2.1% in the 3rd quarter. Waverly Advisors LLC now owns 4,847 shares of the energy producer’s stock valued at $581,000 after purchasing an additional 100 shares during the last quarter. SRS Capital Advisors Inc. boosted its holdings in ConocoPhillips by 26.0% in the third quarter. SRS Capital Advisors Inc. now owns 1,269 shares of the energy producer’s stock worth $152,000 after purchasing an additional 262 shares in the last quarter. AQR Capital Management LLC increased its position in ConocoPhillips by 5.2% during the third quarter. AQR Capital Management LLC now owns 397,320 shares of the energy producer’s stock worth $47,599,000 after buying an additional 19,756 shares during the last quarter. Finally, Axxcess Wealth Management LLC raised its holdings in ConocoPhillips by 353.3% during the third quarter. Axxcess Wealth Management LLC now owns 24,904 shares of the energy producer’s stock valued at $2,984,000 after buying an additional 19,410 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Morgan Stanley upped their target price on ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Susquehanna raised their target price on shares of ConocoPhillips from $133.00 to $154.00 and gave the company a “positive” rating in a research note on Monday, April 22nd. Wells Fargo & Company lifted their target price on shares of ConocoPhillips from $149.00 to $151.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Scotiabank raised their price target on ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a research report on Thursday, April 11th. Finally, Barclays boosted their price objective on ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $144.18.

ConocoPhillips Stock Down 0.2 %

COP stock traded down $0.23 during mid-day trading on Tuesday, hitting $114.13. 3,836,698 shares of the company were exchanged, compared to its average volume of 5,671,220. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.21 and a current ratio of 1.35. ConocoPhillips has a 1-year low of $99.35 and a 1-year high of $135.18. The firm’s 50 day simple moving average is $118.00 and its 200 day simple moving average is $117.61. The firm has a market cap of $133.48 billion, a P/E ratio of 12.91, a P/E/G ratio of 2.04 and a beta of 1.24.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, May 2nd. The energy producer reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.04. The company had revenue of $14.48 billion for the quarter, compared to analyst estimates of $14.72 billion. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. On average, sell-side analysts predict that ConocoPhillips will post 8.89 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 13th were issued a dividend of $0.78 per share. The ex-dividend date was Friday, May 10th. This represents a $3.12 annualized dividend and a yield of 2.73%. ConocoPhillips’s payout ratio is presently 26.27%.

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.