ConocoPhillips (NYSE:COP) Stock Position Lifted by Peak Asset Management LLC

Peak Asset Management LLC boosted its stake in shares of ConocoPhillips (NYSE:COP) by 1.6% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 67,877 shares of the energy producer’s stock after purchasing an additional 1,043 shares during the period. ConocoPhillips comprises approximately 1.4% of Peak Asset Management LLC’s holdings, making the stock its 26th largest position. Peak Asset Management LLC’s holdings in ConocoPhillips were worth $7,128,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in COP. Murphy & Mullick Capital Management Corp purchased a new position in ConocoPhillips during the fourth quarter valued at approximately $26,000. Pictet Asset Management Holding SA lifted its stake in ConocoPhillips by 11.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 444,137 shares of the energy producer’s stock valued at $44,045,000 after acquiring an additional 45,522 shares during the last quarter. RiverFront Investment Group LLC lifted its stake in ConocoPhillips by 15.9% in the fourth quarter. RiverFront Investment Group LLC now owns 3,939 shares of the energy producer’s stock valued at $391,000 after acquiring an additional 539 shares during the last quarter. Brown Brothers Harriman & Co. lifted its stake in ConocoPhillips by 29.1% in the fourth quarter. Brown Brothers Harriman & Co. now owns 7,253 shares of the energy producer’s stock valued at $719,000 after acquiring an additional 1,637 shares during the last quarter. Finally, Allstate Corp acquired a new stake in ConocoPhillips in the fourth quarter valued at approximately $3,851,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Barclays reduced their target price on shares of ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Wells Fargo & Company reiterated an “overweight” rating and issued a $117.00 target price (up from $113.00) on shares of ConocoPhillips in a research note on Thursday, June 26th. UBS Group lifted their target price on shares of ConocoPhillips from $111.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, July 11th. Susquehanna reduced their target price on shares of ConocoPhillips from $114.00 to $113.00 and set a “positive” rating for the company in a research note on Wednesday. Finally, Mizuho reduced their target price on shares of ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating for the company in a research note on Tuesday, May 13th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $121.33.

ConocoPhillips Price Performance

NYSE:COP opened at $94.96 on Friday. The stock has a market cap of $120.04 billion, a P/E ratio of 12.07, a PEG ratio of 2.47 and a beta of 0.61. ConocoPhillips has a one year low of $79.88 and a one year high of $116.08. The company has a fifty day moving average price of $91.14 and a 200 day moving average price of $94.34. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.27 and a quick ratio of 1.13.

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

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were given 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 3.29%. ConocoPhillips’s dividend payout ratio (DPR) is 39.64%.

Insider Transactions at ConocoPhillips

In related news, EVP Kirk L. Johnson purchased 5,300 shares of ConocoPhillips stock in a transaction that occurred on Monday, June 16th. The shares were acquired at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the transaction, the executive vice president directly owned 14,527 shares in the company, valued at approximately $1,369,024.48. This represents a 57.44% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.24% of the stock is currently owned by company insiders.

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.