Advocate Group LLC Has $396,000 Position in ConocoPhillips (NYSE:COP)

Advocate Group LLC cut its stake in shares of ConocoPhillips (NYSE:COP) by 10.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,769 shares of the energy producer’s stock after selling 450 shares during the quarter. Advocate Group LLC’s holdings in ConocoPhillips were worth $396,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp acquired a new position in shares of ConocoPhillips during the fourth quarter worth $26,000. Centricity Wealth Management LLC acquired a new stake in shares of ConocoPhillips during the 4th quarter valued at $27,000. 10Elms LLP bought a new stake in ConocoPhillips during the 4th quarter worth $28,000. Crowley Wealth Management Inc. acquired a new position in ConocoPhillips in the 4th quarter worth about $32,000. Finally, Marshall Investment Management LLC acquired a new position in ConocoPhillips in the 4th quarter worth about $36,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Trading Up 1.0%

NYSE COP opened at $94.76 on Friday. The stock has a market capitalization of $119.79 billion, a P/E ratio of 12.04, a P/E/G ratio of 2.54 and a beta of 0.61. The business has a 50 day simple moving average of $89.65 and a 200 day simple moving average of $95.52. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.27 and a quick ratio of 1.13. ConocoPhillips has a one year low of $79.88 and a one year high of $118.40.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, topping the consensus estimate of $2.05 by $0.04. ConocoPhillips had a net margin of 16.02% and a return on equity of 16.54%. The company had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. During the same quarter last year, the firm posted $2.05 EPS. Research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips’s dividend payout ratio (DPR) is currently 39.64%.

Insider Activity

In other news, EVP Kirk L. Johnson bought 5,300 shares of ConocoPhillips stock in a transaction dated Monday, June 16th. The stock was bought at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the purchase, the executive vice president now directly owns 14,527 shares in the company, valued at approximately $1,369,024.48. This represents a 57.44% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Morgan Stanley boosted their price target on ConocoPhillips from $116.00 to $118.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. Raymond James Financial reiterated an “outperform” rating and set a $109.00 target price (up from $103.00) on shares of ConocoPhillips in a research report on Tuesday, May 20th. Wells Fargo & Company reduced their target price on shares of ConocoPhillips from $116.00 to $113.00 and set an “overweight” rating on the stock in a report on Wednesday, May 14th. Barclays dropped their price target on shares of ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Finally, Scotiabank cut 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. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $121.30.

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.