9,686 Shares in ConocoPhillips $COP Acquired by Shelton Wealth Management LLC

Shelton Wealth Management LLC acquired a new position in ConocoPhillips (NYSE:COP) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 9,686 shares of the energy producer’s stock, valued at approximately $1,279,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in ConocoPhillips by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 120,251,183 shares of the energy producer’s stock worth $11,256,713,000 after buying an additional 408,304 shares during the last quarter. Capital International Investors increased its stake in ConocoPhillips by 5.9% in the fourth quarter. Capital International Investors now owns 48,360,060 shares of the energy producer’s stock valued at $4,527,230,000 after purchasing an additional 2,714,663 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of ConocoPhillips by 6.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 41,450,162 shares of the energy producer’s stock valued at $3,880,151,000 after purchasing an additional 2,350,645 shares during the period. Franklin Resources Inc. grew its stake in shares of ConocoPhillips by 4.5% in the 4th quarter. Franklin Resources Inc. now owns 15,038,675 shares of the energy producer’s stock valued at $1,407,770,000 after buying an additional 648,432 shares during the period. Finally, Fisher Asset Management LLC increased its position in ConocoPhillips by 1.3% in the 4th quarter. Fisher Asset Management LLC now owns 14,847,367 shares of the energy producer’s stock valued at $1,389,862,000 after buying an additional 193,401 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on COP. The Goldman Sachs Group cut their target price on ConocoPhillips from $144.00 to $138.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Jefferies Financial Group boosted their target price on shares of ConocoPhillips from $160.00 to $161.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. Susquehanna upped their target price on shares of ConocoPhillips from $149.00 to $152.00 in a report on Friday, May 1st. Argus increased their price objective on ConocoPhillips from $128.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Finally, Freedom Capital lowered ConocoPhillips from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 6th. Eighteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $134.60.

ConocoPhillips Stock Performance

Shares of COP stock traded up $2.57 on Tuesday, hitting $106.15. 1,146,934 shares of the stock were exchanged, compared to its average volume of 8,874,642. The firm has a market capitalization of $129.32 billion, a PE ratio of 18.03, a P/E/G ratio of 1.20 and a beta of 0.12. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. The firm’s 50 day moving average is $115.76 and its two-hundred day moving average is $112.25. ConocoPhillips has a one year low of $85.57 and a one year high of $135.87.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The company had revenue of $15.76 billion for the quarter, compared to analyst estimates of $15.62 billion. During the same period in the previous year, the company posted $2.09 EPS. The firm’s revenue for the quarter was down 6.1% compared to the same quarter last year. Sell-side analysts expect that ConocoPhillips will post 9.66 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Monday, May 11th. ConocoPhillips’s payout ratio is 57.05%.

ConocoPhillips Company Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.