World Investment Advisors Boosts Stock Position in ConocoPhillips (NYSE:COP)

World Investment Advisors lifted its holdings in ConocoPhillips (NYSE:COP) by 29.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 62,506 shares of the energy producer’s stock after purchasing an additional 14,174 shares during the quarter. World Investment Advisors’ holdings in ConocoPhillips were worth $6,564,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Gray Wealth Management Inc. increased its position in shares of ConocoPhillips by 5.0% during the fourth quarter. Gray Wealth Management Inc. now owns 2,171 shares of the energy producer’s stock worth $215,000 after purchasing an additional 104 shares in the last quarter. Plancorp LLC grew its holdings in ConocoPhillips by 2.7% in the 4th quarter. Plancorp LLC now owns 4,018 shares of the energy producer’s stock valued at $399,000 after buying an additional 104 shares in the last quarter. Thompson Siegel & Walmsley LLC grew its holdings in ConocoPhillips by 3.7% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 2,912 shares of the energy producer’s stock valued at $289,000 after buying an additional 105 shares in the last quarter. Councilmark Asset Management LLC grew its holdings in ConocoPhillips by 0.5% in the 4th quarter. Councilmark Asset Management LLC now owns 19,639 shares of the energy producer’s stock valued at $1,948,000 after buying an additional 106 shares in the last quarter. Finally, Second Line Capital LLC grew its holdings in ConocoPhillips by 2.2% in the 4th quarter. Second Line Capital LLC now owns 4,990 shares of the energy producer’s stock valued at $495,000 after buying an additional 108 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $94.28 on Friday. The business has a 50-day moving average of $90.23 and a 200 day moving average of $94.80. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $118.40. The stock has a market capitalization of $119.19 billion, a price-to-earnings ratio of 11.98, a price-to-earnings-growth ratio of 2.53 and a beta of 0.61. 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 (NYSE:COP) last announced 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. The company had revenue of $16.18 billion during the quarter, compared to analysts’ expectations of $15.74 billion. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. During the same period last year, the business posted $2.05 EPS. As a group, sell-side analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date was Monday, May 19th. ConocoPhillips’s dividend payout ratio is currently 39.64%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on COP shares. Morgan Stanley upped their target price on ConocoPhillips from $116.00 to $118.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Barclays dropped their target price on ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Citigroup dropped their target price on ConocoPhillips from $140.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, June 11th. Royal Bank Of Canada dropped their target price on ConocoPhillips from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Friday, May 30th. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $117.00 target price (up from $113.00) on shares of ConocoPhillips in a report on Thursday, June 26th. Three 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, ConocoPhillips has an average rating of “Moderate Buy” and a consensus price target of $121.80.

Insider Transactions at ConocoPhillips

In related news, EVP Kirk L. Johnson purchased 5,300 shares of ConocoPhillips 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 transaction, the executive vice president directly owned 14,527 shares of the company’s stock, valued at approximately $1,369,024.48. This trade represents a 57.44% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.24% of the stock is owned by corporate insiders.

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.