ConocoPhillips (NYSE:COP) Shares Purchased by Strategic Blueprint LLC

Strategic Blueprint LLC lifted its holdings in ConocoPhillips (NYSE:COP) by 12.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,134 shares of the energy producer’s stock after purchasing an additional 1,089 shares during the period. Strategic Blueprint LLC’s holdings in ConocoPhillips were worth $1,064,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Gray Wealth Management Inc. raised its stake in shares of ConocoPhillips by 5.0% in the fourth quarter. Gray Wealth Management Inc. now owns 2,171 shares of the energy producer’s stock valued at $215,000 after acquiring an additional 104 shares during the last quarter. Plancorp LLC raised its position 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 purchasing an additional 104 shares during the last quarter. Thompson Siegel & Walmsley LLC raised its position 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 purchasing an additional 105 shares during the last quarter. Councilmark Asset Management LLC raised its position 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 purchasing an additional 106 shares during the last quarter. Finally, Second Line Capital LLC raised its position 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 purchasing an additional 108 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Citigroup cut their price target on ConocoPhillips from $140.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, June 11th. UBS Group dropped their price objective on shares of ConocoPhillips from $116.00 to $111.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Piper Sandler boosted their price objective on shares of ConocoPhillips from $107.00 to $113.00 and gave the stock an “overweight” rating in a research report on Wednesday. Raymond James Financial restated an “outperform” rating and set a $109.00 target price (up previously from $103.00) on shares of ConocoPhillips in a research report on Tuesday, May 20th. Finally, Barclays dropped their target price on ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and an average target price of $121.80.

ConocoPhillips Price Performance

COP opened at $94.28 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.27 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $118.40. The company has a fifty day simple moving average of $90.23 and a 200 day simple moving average of $94.80. The stock has a market cap of $119.19 billion, a P/E ratio of 11.98, a P/E/G ratio of 2.53 and a beta of 0.61.

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

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were paid 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 3.31%. ConocoPhillips’s payout ratio is 39.64%.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, EVP Kirk L. Johnson bought 5,300 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was acquired at an average cost of $94.24 per share, with a total value of $499,472.00. Following the purchase, the executive vice president owned 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.24% of the company’s stock.

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.