Strategic Blueprint LLC Buys 1,089 Shares of ConocoPhillips (NYSE:COP)

Strategic Blueprint LLC raised its stake in ConocoPhillips (NYSE:COP) by 12.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,134 shares of the energy producer’s stock after purchasing an additional 1,089 shares during the quarter. Strategic Blueprint LLC’s holdings in ConocoPhillips were worth $1,064,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of ConocoPhillips by 11.7% in the 4th quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer’s stock valued at $12,081,491,000 after acquiring an additional 12,751,120 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of ConocoPhillips by 13.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer’s stock valued at $4,546,706,000 after acquiring an additional 5,549,078 shares during the period. Invesco Ltd. grew its holdings in ConocoPhillips by 37.1% during the fourth quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer’s stock worth $1,544,101,000 after purchasing an additional 4,211,939 shares during the period. Geode Capital Management LLC grew its holdings in ConocoPhillips by 13.7% during the fourth quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer’s stock worth $2,792,521,000 after purchasing an additional 3,397,360 shares during the period. Finally, Northern Trust Corp grew its holdings in ConocoPhillips by 27.6% during the fourth quarter. Northern Trust Corp now owns 13,757,835 shares of the energy producer’s stock worth $1,364,364,000 after purchasing an additional 2,971,661 shares during the period. 82.36% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other ConocoPhillips news, EVP Kirk L. Johnson acquired 5,300 shares of ConocoPhillips stock in a transaction that occurred on Monday, June 16th. The shares were acquired at an average cost of $94.24 per share, with a total value of $499,472.00. Following the completion of the purchase, the executive vice president directly owned 14,527 shares of the company’s stock, valued at $1,369,024.48. This represents a 57.44% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.24% of the stock is owned by company insiders.

ConocoPhillips Trading Down 0.2%

Shares of ConocoPhillips stock opened at $94.28 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.27 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $119.19 billion, a price-to-earnings ratio of 11.98, a PEG ratio of 2.53 and a beta of 0.61. The firm’s 50-day moving average price is $90.23 and its two-hundred day moving average price is $94.80. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $118.40.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.04. The business had revenue of $16.18 billion for the quarter, compared to analyst estimates of $15.74 billion. ConocoPhillips had a net margin of 16.02% and a return on equity of 16.54%. During the same quarter last year, the business posted $2.05 EPS. On average, analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date was Monday, May 19th. ConocoPhillips’s dividend payout ratio is presently 39.64%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Citigroup decreased their target price on ConocoPhillips from $140.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, June 11th. Susquehanna reduced their target price on shares of ConocoPhillips from $120.00 to $114.00 and set a “positive” rating for the company in a report on Monday, May 12th. Raymond James Financial restated an “outperform” rating and set a $109.00 price objective (up previously from $103.00) on shares of ConocoPhillips in a report on Tuesday, May 20th. Piper Sandler boosted their price objective on ConocoPhillips from $107.00 to $113.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Barclays reduced their target price on shares of ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, ConocoPhillips currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.80.

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.