Riverbend Wealth Management LLC Buys 278 Shares of ConocoPhillips (NYSE:COP)

Riverbend Wealth Management LLC grew its stake in shares of ConocoPhillips (NYSE:COP) by 9.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,275 shares of the energy producer’s stock after acquiring an additional 278 shares during the period. Riverbend Wealth Management LLC’s holdings in ConocoPhillips were worth $344,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of COP. MONECO Advisors LLC raised its stake in shares of ConocoPhillips by 4.0% during the fourth quarter. MONECO Advisors LLC now owns 5,461 shares of the energy producer’s stock valued at $542,000 after acquiring an additional 209 shares in the last quarter. Union Bancaire Privee UBP SA bought a new stake in shares of ConocoPhillips during the fourth quarter valued at approximately $161,000. Y Intercept Hong Kong Ltd bought a new position in ConocoPhillips in the fourth quarter worth approximately $2,062,000. Capital Advisors Ltd. LLC raised its stake in ConocoPhillips by 14.6% in the fourth quarter. Capital Advisors Ltd. LLC now owns 1,309 shares of the energy producer’s stock worth $130,000 after buying an additional 167 shares in the last quarter. Finally, IFP Advisors Inc raised its stake in ConocoPhillips by 15.0% in the fourth quarter. IFP Advisors Inc now owns 12,636 shares of the energy producer’s stock worth $1,253,000 after buying an additional 1,645 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

Insider Activity

In other ConocoPhillips news, EVP Kirk L. Johnson purchased 5,300 shares of the stock in a transaction on Monday, June 16th. The shares were bought at an average cost of $94.24 per share, with a total value of $499,472.00. Following the completion of the acquisition, the executive vice president now owns 14,527 shares in the company, valued at $1,369,024.48. This trade represents a 57.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.24% of the company’s stock.

ConocoPhillips Price Performance

Shares of COP opened at $89.41 on Wednesday. The firm has a market capitalization of $113.02 billion, a PE ratio of 11.36, a price-to-earnings-growth ratio of 2.48 and a beta of 0.61. 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 1-year low of $79.88 and a 1-year high of $118.40. The company’s fifty day moving average price is $89.84 and its 200-day moving average price is $95.28.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.04. The firm 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 period in the previous year, the company earned $2.05 earnings per share. On average, equities research analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently disclosed 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. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date was Monday, May 19th. ConocoPhillips’s dividend payout ratio (DPR) is presently 39.64%.

Analyst Ratings Changes

COP has been the subject of a number of recent research reports. Citigroup reduced their price objective on shares of ConocoPhillips from $140.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, June 11th. Susquehanna reduced their price objective on shares of ConocoPhillips from $120.00 to $114.00 and set a “positive” rating for the company in a research note on Monday, May 12th. Barclays reduced their price objective on shares of ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. UBS Group reduced their price objective on shares of ConocoPhillips from $116.00 to $111.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Finally, Morgan Stanley boosted their price objective on shares of ConocoPhillips from $116.00 to $118.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.30.

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.