ConocoPhillips (NYSE:COP) Stock Position Boosted by Castleview Partners LLC

Castleview Partners LLC boosted its position in shares of ConocoPhillips (NYSE:COP) by 31.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,159 shares of the energy producer’s stock after purchasing an additional 8,994 shares during the period. ConocoPhillips makes up 2.6% of Castleview Partners LLC’s holdings, making the stock its 5th biggest holding. Castleview Partners LLC’s holdings in ConocoPhillips were worth $3,902,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of COP. PFG Investments LLC boosted its stake in ConocoPhillips by 2.6% during the first quarter. PFG Investments LLC now owns 16,222 shares of the energy producer’s stock worth $1,704,000 after buying an additional 418 shares during the period. Dupont Capital Management Corp boosted its stake in ConocoPhillips by 7.0% during the first quarter. Dupont Capital Management Corp now owns 84,177 shares of the energy producer’s stock worth $8,840,000 after buying an additional 5,532 shares during the period. Evanson Asset Management LLC boosted its stake in ConocoPhillips by 10.6% during the first quarter. Evanson Asset Management LLC now owns 2,668 shares of the energy producer’s stock worth $280,000 after buying an additional 255 shares during the period. Private Wealth Partners LLC boosted its stake in ConocoPhillips by 2.8% during the first quarter. Private Wealth Partners LLC now owns 9,400 shares of the energy producer’s stock worth $987,000 after buying an additional 254 shares during the period. Finally, Advisor Resource Council purchased a new position in ConocoPhillips during the first quarter worth about $1,131,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Up 1.0%

Shares of ConocoPhillips stock opened at $94.76 on Friday. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $118.40. The company has a 50 day moving average of $89.65 and a 200 day moving average of $95.52. The company has a quick ratio of 1.13, a current ratio of 1.27 and a debt-to-equity ratio of 0.36. The company 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.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 in the previous year, the firm earned $2.05 earnings per share. As a group, research analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

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

Insiders Place Their Bets

In related news, EVP Kirk L. Johnson acquired 5,300 shares of the business’s stock in a transaction on Monday, June 16th. The shares were bought at an average price of $94.24 per share, with a total value of $499,472.00. Following the completion of the acquisition, the executive vice president now owns 14,527 shares in the company, valued at $1,369,024.48. This trade represents a 57.44% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.24% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on COP shares. JPMorgan Chase & Co. lowered their target price on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Royal Bank Of Canada lowered their target price on shares of ConocoPhillips from $120.00 to $115.00 and set an “outperform” rating for the company in a research note on Friday, May 30th. Wells Fargo & Company lowered their target price 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. Morgan Stanley raised their price objective on shares of ConocoPhillips from $116.00 to $118.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. Finally, Mizuho lowered their price objective on shares of ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating for the company in a research note on Tuesday, May 13th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $121.30.

ConocoPhillips 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.