Clearwater Capital Advisors LLC Invests $1.07 Million in ConocoPhillips (NYSE:COP)

Clearwater Capital Advisors LLC purchased a new position in shares of ConocoPhillips (NYSE:COP) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 10,151 shares of the energy producer’s stock, valued at approximately $1,066,000.

A number of other hedge funds have also modified their holdings of COP. 10Elms LLP acquired a new position in shares of ConocoPhillips during the fourth quarter worth about $28,000. Garde Capital Inc. acquired a new position in ConocoPhillips in the first quarter valued at approximately $35,000. IMA Advisory Services Inc. purchased a new stake in ConocoPhillips in the first quarter valued at approximately $37,000. Fourth Dimension Wealth LLC purchased a new stake in ConocoPhillips in the fourth quarter valued at approximately $39,000. Finally, MorganRosel Wealth Management LLC purchased a new stake in ConocoPhillips in the first quarter valued at approximately $42,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at ConocoPhillips

In related news, EVP Kirk L. Johnson acquired 5,300 shares of ConocoPhillips stock in a transaction that occurred on Monday, June 16th. The stock was acquired 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 of the company’s stock, valued at $1,369,024.48. This trade represents a 57.44% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.24% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

COP has been the subject of several analyst reports. Mizuho cut their price target on ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating for the company in a research note on Tuesday, May 13th. Susquehanna dropped their price target on ConocoPhillips from $114.00 to $113.00 and set a “positive” rating for the company in a research report on Wednesday, July 23rd. Scotiabank lifted their price objective on ConocoPhillips from $95.00 to $100.00 and gave the stock a “sector perform” rating in a research report on Friday, July 11th. Wells Fargo & Company reiterated an “overweight” rating and set a $117.00 price objective (up previously from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $119.00 price target on shares of ConocoPhillips in a research note on Tuesday, July 15th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $121.33.

ConocoPhillips Price Performance

COP stock opened at $92.75 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. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $116.08. The stock’s 50 day moving average is $91.97 and its two-hundred day moving average is $94.15. The company has a market capitalization of $117.25 billion, a PE ratio of 11.79, a P/E/G ratio of 2.48 and a beta of 0.67.

ConocoPhillips (NYSE:COP) last issued its 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. The company had revenue of $16.18 billion during the quarter, compared to analyst estimates of $15.74 billion. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. During the same quarter last year, the firm earned $2.05 EPS. Analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were given a dividend of $0.78 per share. The ex-dividend date was Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a yield of 3.4%. ConocoPhillips’s payout ratio is currently 39.64%.

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.