Everhart Financial Group Inc. Grows Stock Holdings in ConocoPhillips (NYSE:COP)

Everhart Financial Group Inc. grew its stake in shares of ConocoPhillips (NYSE:COP) by 5.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,259 shares of the energy producer’s stock after buying an additional 280 shares during the period. Everhart Financial Group Inc.’s holdings in ConocoPhillips were worth $552,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in COP. Tallon Kerry Patrick purchased a new stake in shares of ConocoPhillips during the 4th quarter valued at $511,000. Naples Global Advisors LLC grew its stake in shares of ConocoPhillips by 11.2% during the 4th quarter. Naples Global Advisors LLC now owns 15,902 shares of the energy producer’s stock valued at $1,577,000 after buying an additional 1,607 shares during the period. Ingalls & Snyder LLC grew its stake in shares of ConocoPhillips by 10.6% during the 4th quarter. Ingalls & Snyder LLC now owns 14,804 shares of the energy producer’s stock valued at $1,468,000 after buying an additional 1,417 shares during the period. Sawgrass Asset Management LLC grew its stake in shares of ConocoPhillips by 15.7% during the 4th quarter. Sawgrass Asset Management LLC now owns 2,851 shares of the energy producer’s stock valued at $283,000 after buying an additional 387 shares during the period. Finally, Asset Management One Co. Ltd. grew its stake in shares of ConocoPhillips by 11.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 519,371 shares of the energy producer’s stock valued at $50,345,000 after buying an additional 54,196 shares during the period. 82.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on COP shares. Royal Bank of Canada reduced their target price on shares of ConocoPhillips from $120.00 to $115.00 and set an “outperform” rating on the stock in a report on Friday, May 30th. Barclays reduced their target price on shares of ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. Bank of America reduced their target price on shares of ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating on the stock in a report on Friday, May 23rd. Scotiabank reduced their target price on shares of ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating on the stock in a report on Friday, April 11th. Finally, Citigroup reduced their target price on shares of ConocoPhillips from $140.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.30.

ConocoPhillips Price Performance

COP opened at $97.00 on Friday. The company has a 50-day moving average of $88.91 and a 200-day moving average of $95.95. The company has a market capitalization of $122.63 billion, a P/E ratio of 12.45, a PEG ratio of 0.79 and a beta of 0.61. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $118.40. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.04. The company had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. During the same quarter in the previous year, the firm earned $2.05 EPS. Equities analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips’s payout ratio is currently 39.64%.

About ConocoPhillips

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.