ConocoPhillips (NYSE:COP) Shares Bought by Concord Wealth Partners

Concord Wealth Partners grew its position in shares of ConocoPhillips (NYSE:COP) by 65.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,526 shares of the energy producer’s stock after acquiring an additional 4,957 shares during the quarter. Concord Wealth Partners’ holdings in ConocoPhillips were worth $1,454,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sloy Dahl & Holst LLC raised its holdings in shares of ConocoPhillips by 3.3% during the third quarter. Sloy Dahl & Holst LLC now owns 2,629 shares of the energy producer’s stock worth $315,000 after acquiring an additional 85 shares in the last quarter. KLCM Advisors Inc. raised its holdings in shares of ConocoPhillips by 2.8% during the third quarter. KLCM Advisors Inc. now owns 3,305 shares of the energy producer’s stock worth $396,000 after acquiring an additional 89 shares in the last quarter. Evergreen Capital Management LLC raised its holdings in ConocoPhillips by 0.5% during the third quarter. Evergreen Capital Management LLC now owns 18,944 shares of the energy producer’s stock valued at $2,270,000 after buying an additional 89 shares in the last quarter. Endowment Wealth Management Inc. raised its holdings in ConocoPhillips by 4.6% during the third quarter. Endowment Wealth Management Inc. now owns 2,055 shares of the energy producer’s stock valued at $246,000 after buying an additional 90 shares in the last quarter. Finally, Your Advocates Ltd. LLP raised its holdings in ConocoPhillips by 2.9% during the third quarter. Your Advocates Ltd. LLP now owns 3,340 shares of the energy producer’s stock valued at $400,000 after buying an additional 93 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Price Performance

NYSE COP traded down $1.27 during trading on Wednesday, reaching $124.35. 2,972,713 shares of the company traded hands, compared to its average volume of 5,312,871. ConocoPhillips has a 1-year low of $95.70 and a 1-year high of $135.18. The stock’s 50 day moving average price is $123.20 and its two-hundred day moving average price is $117.67. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.29 and a current ratio of 1.43. The company has a market cap of $146.29 billion, a price-to-earnings ratio of 13.87, a P/E/G ratio of 2.72 and a beta of 1.24.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.32. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. The company had revenue of $15.31 billion during the quarter, compared to analysts’ expectations of $14.47 billion. During the same quarter in the previous year, the company posted $2.71 earnings per share. As a group, analysts anticipate that ConocoPhillips will post 9.57 EPS for the current year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 19th were paid a $0.78 dividend. The ex-dividend date was Thursday, February 15th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.51%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is 25.61%.

Insider Activity

In other news, EVP Nicholas G. Olds sold 12,150 shares of ConocoPhillips stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $126.44, for a total value of $1,536,246.00. Following the completion of the transaction, the executive vice president now owns 14,522 shares in the company, valued at $1,836,161.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Nicholas G. Olds sold 12,150 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $126.44, for a total value of $1,536,246.00. Following the completion of the transaction, the executive vice president now owns 14,522 shares in the company, valued at approximately $1,836,161.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO William L. Jr. Bullock sold 45,200 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $123.32, for a total transaction of $5,574,064.00. Following the completion of the transaction, the chief financial officer now owns 44,153 shares of the company’s stock, valued at approximately $5,444,947.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 700,775 shares of company stock worth $87,615,169. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Scotiabank raised their target price on ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. Morgan Stanley lifted their price objective on ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Wells Fargo & Company lifted their price objective on ConocoPhillips from $141.00 to $149.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 10th. Susquehanna lifted their price objective on ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a research note on Monday, April 22nd. Finally, Raymond James dropped their price objective on ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.65.

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.