Independent Financial Group LLC Acquires Shares of 8,507 ConocoPhillips $COP

Independent Financial Group LLC acquired a new stake in ConocoPhillips (NYSE:COP) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 8,507 shares of the energy producer’s stock, valued at approximately $1,123,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Patten Group Inc. grew its position in ConocoPhillips by 1.5% during the 1st quarter. Patten Group Inc. now owns 5,447 shares of the energy producer’s stock worth $719,000 after purchasing an additional 83 shares during the period. IFC Advisors LLC boosted its stake in shares of ConocoPhillips by 0.4% in the first quarter. IFC Advisors LLC now owns 20,182 shares of the energy producer’s stock worth $2,664,000 after buying an additional 84 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of ConocoPhillips by 0.4% in the first quarter. Blue Trust Inc. now owns 21,144 shares of the energy producer’s stock worth $2,791,000 after buying an additional 92 shares during the last quarter. Sigma Planning Corp grew its holdings in ConocoPhillips by 0.6% during the first quarter. Sigma Planning Corp now owns 16,062 shares of the energy producer’s stock worth $2,120,000 after acquiring an additional 94 shares during the period. Finally, Nicolet Advisory Services LLC grew its holdings in ConocoPhillips by 0.9% during the fourth quarter. Nicolet Advisory Services LLC now owns 10,352 shares of the energy producer’s stock worth $989,000 after acquiring an additional 95 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Barclays boosted their price target on ConocoPhillips from $136.00 to $155.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. The Goldman Sachs Group lowered their price target on shares of ConocoPhillips from $144.00 to $138.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Roth Capital upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and raised their price target for the company from $124.00 to $130.00 in a research report on Monday, June 22nd. Jefferies Financial Group upped their price objective 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. Finally, Raymond James Financial lowered their target price on shares of ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating on the stock in a research note on Monday, June 1st. Eighteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $134.04.

ConocoPhillips Stock Performance

Shares of NYSE:COP opened at $115.67 on Tuesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14. ConocoPhillips has a 1 year low of $85.57 and a 1 year high of $135.87. The firm has a market capitalization of $140.92 billion, a PE ratio of 19.64, a P/E/G ratio of 1.39 and a beta of 0.12. The business’s 50 day moving average price is $113.48 and its 200-day moving average price is $113.67.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, beating the consensus estimate of $1.72 by $0.17. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The firm had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. During the same period in the prior year, the company earned $2.09 EPS. The firm’s revenue was down 6.1% compared to the same quarter last year. As a group, equities research analysts expect that ConocoPhillips will post 9.2 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Monday, May 11th. ConocoPhillips’s dividend payout ratio (DPR) is currently 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.