Prosperity Consulting Group LLC Acquires 1,763 Shares of ConocoPhillips (NYSE:COP)

Prosperity Consulting Group LLC lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 47.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 5,466 shares of the energy producer’s stock after acquiring an additional 1,763 shares during the period. Prosperity Consulting Group LLC’s holdings in ConocoPhillips were worth $574,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of ConocoPhillips by 13.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer’s stock worth $4,546,706,000 after acquiring an additional 5,549,078 shares during the period. Elevation Point Wealth Partners LLC lifted its holdings in shares of ConocoPhillips by 83.0% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 18,060 shares of the energy producer’s stock worth $1,897,000 after acquiring an additional 8,189 shares during the period. Schwartz Investment Counsel Inc. lifted its holdings in shares of ConocoPhillips by 159.6% during the 1st quarter. Schwartz Investment Counsel Inc. now owns 48,800 shares of the energy producer’s stock worth $5,125,000 after acquiring an additional 30,000 shares during the period. ORG Wealth Partners LLC lifted its holdings in shares of ConocoPhillips by 853.3% during the 1st quarter. ORG Wealth Partners LLC now owns 6,616 shares of the energy producer’s stock worth $698,000 after acquiring an additional 5,922 shares during the period. Finally, Hennessy Advisors Inc. lifted its holdings in shares of ConocoPhillips by 151.1% during the 1st quarter. Hennessy Advisors Inc. now owns 91,224 shares of the energy producer’s stock worth $9,580,000 after acquiring an additional 54,900 shares during the period. 82.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Scotiabank raised their price objective on shares of ConocoPhillips from $95.00 to $100.00 and gave the stock a “sector perform” rating in a report on Friday, July 11th. Citigroup cut their price target on shares of ConocoPhillips from $140.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, June 11th. Bank of America cut their price target on shares of ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating for the company in a report on Friday, May 23rd. Royal Bank Of Canada cut their price target on shares of ConocoPhillips from $115.00 to $113.00 and set an “outperform” rating for the company in a report on Friday, July 11th. Finally, UBS Group lifted their price target on shares of ConocoPhillips from $111.00 to $115.00 and gave the company a “buy” rating in a report on Friday, July 11th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.33.

ConocoPhillips Trading Up 1.0%

COP opened at $98.04 on Wednesday. The company has a current ratio of 1.27, a quick ratio of 1.13 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $123.93 billion, a PE ratio of 12.46, a PEG ratio of 2.53 and a beta of 0.61. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $116.08. The firm has a 50-day moving average price of $91.44 and a two-hundred day moving average price of $94.28.

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

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.18%. The ex-dividend date was Monday, May 19th. ConocoPhillips’s dividend payout ratio is 39.64%.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, EVP Kirk L. Johnson purchased 5,300 shares of the stock in a transaction dated Monday, June 16th. The stock was bought 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 $1,369,024.48. This represents a 57.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 0.24% of the stock is currently owned by corporate insiders.

ConocoPhillips Company 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.