AdvisorNet Financial Inc boosted its position in ConocoPhillips (NYSE:COP) by 15.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 9,044 shares of the energy producer’s stock after acquiring an additional 1,191 shares during the period. AdvisorNet Financial Inc’s holdings in ConocoPhillips were worth $536,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. raised its stake in ConocoPhillips by 468.8% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,820 shares of the energy producer’s stock valued at $100,000 after acquiring an additional 1,500 shares during the period. Centaurus Financial Inc. bought a new stake in ConocoPhillips in the 1st quarter valued at about $104,000. Truewealth LLC bought a new stake in ConocoPhillips in the 4th quarter valued at about $138,000. Valeo Financial Advisors LLC bought a new stake in ConocoPhillips in the 3rd quarter valued at about $142,000. Finally, Highlander Capital Management LLC raised its stake in ConocoPhillips by 74.6% in the 3rd quarter. Highlander Capital Management LLC now owns 2,856 shares of the energy producer’s stock valued at $143,000 after acquiring an additional 1,220 shares during the period. Institutional investors and hedge funds own 71.21% of the company’s stock.
ConocoPhillips opened at $70.66 on Friday, Marketbeat Ratings reports. The company has a current ratio of 1.86, a quick ratio of 1.71 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $82.01 billion, a P/E ratio of 117.77, a P/E/G ratio of 2.16 and a beta of 1.22. ConocoPhillips has a 1-year low of $69.10 and a 1-year high of $70.19.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Monday, May 14th will be given a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend is Friday, May 11th. ConocoPhillips’s dividend payout ratio (DPR) is 190.00%.
ConocoPhillips declared that its board has authorized a stock buyback program on Thursday, February 1st that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the energy producer to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
A number of equities research analysts recently issued reports on the company. Argus set a $76.00 price objective on ConocoPhillips and gave the company a “buy” rating in a research note on Friday, May 4th. Barclays boosted their price objective on ConocoPhillips from $71.00 to $78.00 and gave the company an “overweight” rating in a research note on Friday, April 27th. TheStreet upgraded ConocoPhillips from a “c+” rating to a “b-” rating in a research report on Wednesday, April 25th. Macquarie cut ConocoPhillips from an “outperform” rating to a “neutral” rating in a research report on Thursday, April 26th. They noted that the move was a valuation call. Finally, Zacks Investment Research cut ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Friday, April 20th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $63.50.
In related news, Director Jody Freeman sold 3,716 shares of the company’s stock in a transaction that occurred on Monday, April 30th. The shares were sold at an average price of $65.55, for a total value of $243,583.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Andrew D. Lundquist sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, March 29th. The stock was sold at an average price of $58.96, for a total transaction of $1,474,000.00. Following the completion of the transaction, the senior vice president now owns 27,353 shares in the company, valued at $1,612,732.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 252,289 shares of company stock worth $16,975,668. 0.88% of the stock is owned by company insiders.
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. Its portfolio includes North American tight oil and oil sands assets in Canada; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; and an inventory of conventional and unconventional exploration prospects.
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