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

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

Several other institutional investors have also recently modified their holdings of the company. Concurrent Investment Advisors LLC boosted its holdings in ConocoPhillips by 31.2% during the 4th quarter. Concurrent Investment Advisors LLC now owns 86,171 shares of the energy producer’s stock valued at $8,067,000 after acquiring an additional 20,501 shares during the period. D.A. Davidson & CO. grew its holdings in shares of ConocoPhillips by 10.5% in the fourth quarter. D.A. Davidson & CO. now owns 155,662 shares of the energy producer’s stock worth $14,572,000 after purchasing an additional 14,833 shares during the last quarter. Czech National Bank grew its holdings in shares of ConocoPhillips by 2.7% in the fourth quarter. Czech National Bank now owns 325,841 shares of the energy producer’s stock worth $30,502,000 after purchasing an additional 8,635 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of ConocoPhillips by 7.9% in the third quarter. Van ECK Associates Corp now owns 195,110 shares of the energy producer’s stock worth $18,455,000 after buying an additional 14,245 shares during the period. Finally, BXM Wealth LLC raised its position in ConocoPhillips by 691.6% during the 4th quarter. BXM Wealth LLC now owns 40,016 shares of the energy producer’s stock valued at $3,746,000 after purchasing an additional 34,961 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Performance

Shares of COP traded up $2.57 on Tuesday, reaching $106.15. The company’s stock had a trading volume of 1,146,934 shares, compared to its average volume of 8,874,642. The stock’s 50 day simple moving average is $115.76 and its two-hundred day simple moving average is $112.25. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14. The stock has a market capitalization of $129.32 billion, a P/E ratio of 18.03, a PEG ratio of 1.20 and a beta of 0.12. ConocoPhillips has a 12-month low of $85.57 and a 12-month high of $135.87.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.17. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The business had revenue of $15.76 billion for the quarter, compared to analysts’ expectations of $15.62 billion. During the same quarter last year, the company posted $2.09 EPS. The company’s revenue was down 6.1% compared to the same quarter last year. Research analysts forecast that ConocoPhillips will post 9.66 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on COP shares. Zacks Research lowered ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 27th. The Goldman Sachs Group lowered their target price on shares of ConocoPhillips from $144.00 to $138.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ConocoPhillips in a research report on Wednesday, June 3rd. Jefferies Financial Group increased their target price on ConocoPhillips from $160.00 to $161.00 and gave the stock a “buy” rating in a research note on Monday, May 18th. Finally, Scotiabank upped their price target on shares of ConocoPhillips from $100.00 to $125.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. Eighteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $134.60.

ConocoPhillips 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.