Stegent Equity Advisors Inc. Has $1.73 Million Stock Position in ConocoPhillips (NYSE:COP)

Stegent Equity Advisors Inc. lifted its stake in ConocoPhillips (NYSE:COP) by 13.0% during the first quarter, Holdings Channel.com reports. The fund owned 16,456 shares of the energy producer’s stock after buying an additional 1,897 shares during the period. ConocoPhillips accounts for approximately 1.8% of Stegent Equity Advisors Inc.’s holdings, making the stock its 16th largest holding. Stegent Equity Advisors Inc.’s holdings in ConocoPhillips were worth $1,728,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Murphy & Mullick Capital Management Corp acquired a new position in ConocoPhillips during the fourth quarter worth approximately $26,000. 10Elms LLP acquired a new position in ConocoPhillips during the fourth quarter worth approximately $28,000. Crowley Wealth Management Inc. acquired a new position in ConocoPhillips during the fourth quarter worth approximately $32,000. Garde Capital Inc. acquired a new position in ConocoPhillips during the first quarter worth approximately $35,000. Finally, Rakuten Securities Inc. increased its position in ConocoPhillips by 222.0% during the fourth quarter. Rakuten Securities Inc. now owns 380 shares of the energy producer’s stock worth $38,000 after buying an additional 262 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analysts Set New Price Targets

COP has been the topic of several research reports. Susquehanna decreased their target price on ConocoPhillips from $120.00 to $114.00 and set a “positive” rating on the stock in a research report on Monday, May 12th. Morgan Stanley upped their target price on ConocoPhillips from $116.00 to $118.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Mizuho decreased their target price on ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Scotiabank decreased their target price on ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating on the stock in a research report on Friday, April 11th. Finally, Royal Bank Of Canada decreased their target price on ConocoPhillips from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Friday, May 30th. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $121.80.

ConocoPhillips Stock Up 1.0%

NYSE COP opened at $95.44 on Friday. The business has a fifty day moving average price of $90.50 and a two-hundred day moving average price of $94.78. 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 has a fifty-two week low of $79.88 and a fifty-two week high of $118.40. The stock has a market capitalization of $120.65 billion, a PE ratio of 12.13, a PEG ratio of 2.55 and a beta of 0.61.

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. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. The firm had revenue of $16.18 billion during the quarter, compared to analysts’ expectations of $15.74 billion. During the same period in the prior year, the company earned $2.05 earnings per share. Equities analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued 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 dividend yield of 3.27%. ConocoPhillips’s dividend payout ratio (DPR) is presently 39.64%.

Insider Activity

In related 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 cost of $94.24 per share, for a total transaction of $499,472.00. Following the completion of the acquisition, the executive vice president owned 14,527 shares of the company’s stock, 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 Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.24% of the company’s stock.

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.