Berry Wealth Group LP Purchases 1,381 Shares of ConocoPhillips (NYSE:COP)

Berry Wealth Group LP boosted its position in shares of ConocoPhillips (NYSE:COP) by 61.1% during the 1st quarter, HoldingsChannel.com reports. The firm owned 3,641 shares of the energy producer’s stock after acquiring an additional 1,381 shares during the quarter. Berry Wealth Group LP’s holdings in ConocoPhillips were worth $382,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its holdings in 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 valued at $4,546,706,000 after purchasing an additional 5,549,078 shares during the last quarter. Elevation Point Wealth Partners LLC grew its holdings in ConocoPhillips by 83.0% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 18,060 shares of the energy producer’s stock valued at $1,897,000 after purchasing an additional 8,189 shares during the last quarter. Hennessy Advisors Inc. grew its holdings in ConocoPhillips by 151.1% during the 1st quarter. Hennessy Advisors Inc. now owns 91,224 shares of the energy producer’s stock valued at $9,580,000 after purchasing an additional 54,900 shares during the last quarter. ORG Wealth Partners LLC grew its stake in ConocoPhillips by 853.3% in 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 in the last quarter. Finally, NJ State Employees Deferred Compensation Plan increased its position in shares of ConocoPhillips by 20.4% during the fourth quarter. NJ State Employees Deferred Compensation Plan now owns 30,100 shares of the energy producer’s stock worth $2,985,000 after acquiring an additional 5,100 shares during the period. 82.36% of the stock is currently owned by institutional investors.

Insider Transactions at ConocoPhillips

In related news, EVP Kirk L. Johnson acquired 5,300 shares of the stock in a transaction dated Monday, June 16th. The stock was acquired at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the completion of the purchase, the executive vice president now owns 14,527 shares of the company’s stock, valued at approximately $1,369,024.48. This represents a 57.44% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.24% of the company’s stock.

ConocoPhillips Price Performance

Shares of COP opened at $91.82 on Tuesday. The company has a market cap of $116.08 billion, a price-to-earnings ratio of 11.67, a price-to-earnings-growth ratio of 2.56 and a beta of 0.61. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $118.40. 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 50 day moving average of $89.76 and a two-hundred day moving average of $95.32.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.04. The company had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. ConocoPhillips had a net margin of 16.02% and a return on equity of 16.54%. During the same period last year, the firm earned $2.05 earnings per share. As a group, 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. Stockholders of record on Monday, May 19th were paid a dividend of $0.78 per share. The ex-dividend date was Monday, May 19th. This represents a $3.12 annualized dividend and a dividend yield of 3.40%. ConocoPhillips’s payout ratio is currently 39.64%.

Analyst Ratings Changes

A number of brokerages have recently commented on COP. Susquehanna reduced their target price on shares of ConocoPhillips from $120.00 to $114.00 and set a “positive” rating on the stock in a research report on Monday, May 12th. Citigroup reduced their target price on shares of ConocoPhillips from $140.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, June 11th. Scotiabank reduced their target price on shares of ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating on the stock in a research report on Friday, April 11th. Royal Bank Of Canada reduced their target price on shares of ConocoPhillips from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Friday, May 30th. Finally, UBS Group reduced their target price on shares of ConocoPhillips from $116.00 to $111.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $121.30.

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.