Confluence Investment Management LLC Buys Shares of 5,121 ConocoPhillips (NYSE:COP)

Confluence Investment Management LLC bought a new stake in shares of ConocoPhillips (NYSE:COP) in the first quarter, Holdings Channel reports. The fund bought 5,121 shares of the energy producer’s stock, valued at approximately $652,000.

A number of other hedge funds have also added to or reduced their stakes in COP. Orion Capital Management LLC purchased a new position in shares of ConocoPhillips during the third quarter worth about $27,000. West Branch Capital LLC grew its holdings in shares of ConocoPhillips by 87.8% during the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock worth $27,000 after purchasing an additional 108 shares in the last quarter. Cooksen Wealth LLC purchased a new position in shares of ConocoPhillips during the fourth quarter worth about $27,000. Sachetta LLC purchased a new position in shares of ConocoPhillips during the fourth quarter worth about $27,000. Finally, Cape Investment Advisory Inc. grew its holdings in shares of ConocoPhillips by 96.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock worth $29,000 after purchasing an additional 121 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Down 0.3 %

Shares of ConocoPhillips stock traded down $0.30 during midday trading on Tuesday, reaching $109.24. 2,326,475 shares of the company’s stock traded hands, compared to its average volume of 5,476,413. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.21 and a current ratio of 1.35. The company has a market cap of $127.76 billion, a PE ratio of 12.39, a price-to-earnings-growth ratio of 2.45 and a beta of 1.23. The stock has a 50 day moving average of $121.52 and a 200-day moving average of $117.60. ConocoPhillips has a 12 month low of $99.35 and a 12 month high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.04. The company had revenue of $14.48 billion for the quarter, compared to analysts’ expectations of $14.72 billion. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. As a group, equities analysts expect that ConocoPhillips will post 8.93 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 13th were paid a $0.78 dividend. The ex-dividend date was Friday, May 10th. This represents a $3.12 annualized dividend and a yield of 2.86%. ConocoPhillips’s payout ratio is 26.27%.

Insider Transactions at ConocoPhillips

In other news, CEO Ryan Michael Lance sold 607,000 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $125.91, for a total value of $76,427,370.00. Following the sale, the chief executive officer now directly owns 6,780 shares of the company’s stock, valued at $853,669.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other ConocoPhillips news, EVP Nicholas G. Olds sold 12,150 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $126.44, for a total value of $1,536,246.00. Following the transaction, the executive vice president now owns 14,522 shares of the company’s stock, valued at $1,836,161.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Michael Lance sold 607,000 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $125.91, for a total value of $76,427,370.00. Following the completion of the transaction, the chief executive officer now directly owns 6,780 shares in the company, valued at approximately $853,669.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 664,350 shares of company stock valued at $83,537,680. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Royal Bank of Canada boosted their target price on ConocoPhillips from $135.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 15th. Mizuho dropped their target price on ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating for the company in a research report on Wednesday, June 5th. Raymond James restated a “strong-buy” rating and issued a $159.00 target price (up previously from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Barclays boosted their target price on ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Finally, Susquehanna boosted their target price on ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a research report on Monday, April 22nd. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $144.18.

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.