Western Wealth Management LLC Grows Position in ConocoPhillips (NYSE:COP)

Western Wealth Management LLC raised its position in shares of ConocoPhillips (NYSE:COP) by 22.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,561 shares of the energy producer’s stock after buying an additional 5,054 shares during the quarter. Western Wealth Management LLC’s holdings in ConocoPhillips were worth $3,199,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in COP. Capital Investment Counsel Inc bought a new stake in shares of ConocoPhillips in the 3rd quarter valued at approximately $228,000. Columbia Trust Co 01012016 lifted its stake in shares of ConocoPhillips by 1.2% in the 4th quarter. Columbia Trust Co 01012016 now owns 9,463 shares of the energy producer’s stock valued at $1,098,000 after purchasing an additional 112 shares during the last quarter. Raymond James & Associates lifted its stake in shares of ConocoPhillips by 1.5% in the 4th quarter. Raymond James & Associates now owns 1,563,044 shares of the energy producer’s stock valued at $181,422,000 after purchasing an additional 23,572 shares during the last quarter. Syon Capital LLC bought a new stake in shares of ConocoPhillips in the 3rd quarter valued at approximately $2,262,000. Finally, PFG Investments LLC bought a new stake in shares of ConocoPhillips in the 3rd quarter valued at approximately $233,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on COP shares. Piper Sandler raised their price target on ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a research note on Thursday. Mizuho reissued a “neutral” rating and set a $139.00 price target (up from $132.00) on shares of ConocoPhillips in a research note on Friday, March 22nd. UBS Group raised their price target on ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Raymond James decreased their price target on ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. Finally, Morgan Stanley raised their price target on ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.00.

Insiders Place Their Bets

In other news, VP Christopher P. Delk sold 8,505 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total value of $953,070.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Nicholas G. Olds sold 12,150 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was 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 of the company’s stock, valued at approximately $1,836,161.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Christopher P. Delk sold 8,505 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total value of $953,070.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 700,775 shares of company stock valued at $87,615,169. 0.34% of the stock is owned by company insiders.

ConocoPhillips Stock Down 0.4 %

Shares of NYSE:COP traded down $0.52 on Thursday, reaching $127.81. The company had a trading volume of 3,578,165 shares, compared to its average volume of 5,453,397. ConocoPhillips has a 52-week low of $95.70 and a 52-week high of $135.18. The firm’s 50 day simple moving average is $119.92 and its 200-day simple moving average is $117.01. The firm has a market capitalization of $150.36 billion, a PE ratio of 14.09, a PEG ratio of 2.77 and a beta of 1.24. The company has a current ratio of 1.43, a quick ratio of 1.29 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.32. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. The firm had revenue of $15.31 billion for the quarter, compared to the consensus estimate of $14.47 billion. During the same period in the previous year, the business earned $2.71 EPS. As a group, analysts expect that ConocoPhillips will post 9.35 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were given a dividend of $0.78 per share. The ex-dividend date was Thursday, February 15th. This represents a $3.12 dividend on an annualized basis and a yield of 2.44%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is currently 25.61%.

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.