Jaffetilchin Investment Partners LLC Buys New Holdings in ConocoPhillips (NYSE:COP)

Jaffetilchin Investment Partners LLC bought a new stake in shares of ConocoPhillips (NYSE:COP) in the 1st quarter, Holdings Channel.com reports. The firm bought 7,011 shares of the energy producer’s stock, valued at approximately $736,000.

Several other institutional investors also recently bought and sold shares of COP. Vanguard Group Inc. boosted its holdings in ConocoPhillips by 11.7% during the 4th quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer’s stock valued at $12,081,491,000 after acquiring an additional 12,751,120 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in ConocoPhillips by 13.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer’s stock valued at $4,546,706,000 after acquiring an additional 5,549,078 shares during the period. Invesco Ltd. boosted its holdings in ConocoPhillips by 37.1% during the 4th quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer’s stock valued at $1,544,101,000 after acquiring an additional 4,211,939 shares during the period. Geode Capital Management LLC boosted its holdings in ConocoPhillips by 13.7% during the 4th quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer’s stock valued at $2,792,521,000 after acquiring an additional 3,397,360 shares during the period. Finally, Northern Trust Corp boosted its holdings in ConocoPhillips by 27.6% during the 4th quarter. Northern Trust Corp now owns 13,757,835 shares of the energy producer’s stock valued at $1,364,364,000 after acquiring an additional 2,971,661 shares during the period. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on COP shares. Bank of America dropped their target price on ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating for the company in a report on Friday, May 23rd. Mizuho lowered their price target on ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. UBS Group lowered their price target on ConocoPhillips from $116.00 to $111.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Royal Bank Of Canada lowered their price target on ConocoPhillips from $120.00 to $115.00 and set an “outperform” rating for the company in a research report on Friday, May 30th. Finally, JPMorgan Chase & Co. lowered their price target on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $121.50.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, EVP Kirk L. Johnson bought 5,300 shares of the business’s stock in a transaction on Monday, June 16th. The shares were acquired at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the purchase, the executive vice president now owns 14,527 shares in the company, valued at approximately $1,369,024.48. This trade represents a 57.44% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.24% of the company’s stock.

ConocoPhillips Stock Down 0.8%

COP stock opened at $90.20 on Friday. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $118.40. 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 firm has a market cap of $114.03 billion, a PE ratio of 11.46, a price-to-earnings-growth ratio of 2.46 and a beta of 0.61. The business has a 50 day moving average of $89.96 and a 200 day moving average of $95.07.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $15.74 billion. During the same quarter last year, the company earned $2.05 EPS. On average, research analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders 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 annualized dividend and a yield of 3.46%. ConocoPhillips’s dividend payout ratio is 39.64%.

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.