GHP Investment Advisors Inc. boosted its holdings in ConocoPhillips (NYSE:COP) by 1.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,745 shares of the energy producer’s stock after purchasing an additional 477 shares during the quarter. GHP Investment Advisors Inc.’s holdings in ConocoPhillips were worth $1,985,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the business. Lenox Wealth Advisors LLC acquired a new position in ConocoPhillips during the first quarter worth $27,000. Smart Portfolios LLC raised its holdings in ConocoPhillips by 69.5% during the fourth quarter. Smart Portfolios LLC now owns 478 shares of the energy producer’s stock worth $30,000 after buying an additional 196 shares during the last quarter. Clarfeld Financial Advisors LLC acquired a new position in ConocoPhillips during the fourth quarter worth $32,000. Athena Capital Advisors LLC acquired a new position in ConocoPhillips during the fourth quarter worth $32,000. Finally, Destination Wealth Management raised its holdings in ConocoPhillips by 592.6% during the first quarter. Destination Wealth Management now owns 561 shares of the energy producer’s stock worth $37,000 after buying an additional 480 shares during the last quarter. Institutional investors and hedge funds own 72.09% of the company’s stock.
Shares of COP stock traded down $0.27 during trading hours on Friday, reaching $61.00. The stock had a trading volume of 6,108,849 shares, compared to its average volume of 6,384,247. The firm has a market capitalization of $69.25 billion, a price-to-earnings ratio of 13.47, a PEG ratio of 1.53 and a beta of 1.03. ConocoPhillips has a 12 month low of $56.75 and a 12 month high of $80.24. The stock has a fifty day simple moving average of $60.28. The company has a quick ratio of 1.72, a current ratio of 1.86 and a debt-to-equity ratio of 0.45.
The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were issued a $0.305 dividend. This represents a $1.22 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend was Friday, May 10th. ConocoPhillips’s dividend payout ratio is 26.93%.
COP has been the topic of several research reports. Zacks Investment Research upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a report on Wednesday, March 13th. Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and increased their target price for the company from $74.00 to $80.00 in a report on Wednesday. ValuEngine upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a report on Thursday. Credit Suisse Group downgraded shares of ConocoPhillips from an “outperform” rating to a “neutral” rating and set a $64.00 target price for the company. in a report on Wednesday, May 1st. Finally, Piper Jaffray Companies upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and increased their price target for the company from $68.00 to $75.00 in a research report on Thursday, March 21st. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $79.21.
ConocoPhillips Company Profile
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.
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