Buckley Wealth Management LLC bought a new position in shares of ConocoPhillips (NYSE:COP) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 54,506 shares of the energy producer’s stock, valued at approximately $2,992,000. ConocoPhillips accounts for about 1.5% of Buckley Wealth Management LLC’s investment portfolio, making the stock its 18th largest holding.
Other institutional investors also recently made changes to their positions in the company. WFG Advisors LP grew its holdings in shares of ConocoPhillips by 0.4% during the second quarter. WFG Advisors LP now owns 9,611 shares of the energy producer’s stock valued at $423,000 after buying an additional 39 shares in the last quarter. Girard Partners LTD. grew its holdings in shares of ConocoPhillips by 0.6% during the second quarter. Girard Partners LTD. now owns 8,434 shares of the energy producer’s stock valued at $371,000 after buying an additional 49 shares in the last quarter. First City Capital Management Inc. grew its holdings in shares of ConocoPhillips by 1.4% during the second quarter. First City Capital Management Inc. now owns 5,459 shares of the energy producer’s stock valued at $240,000 after buying an additional 75 shares in the last quarter. Whalerock Point Partners LLC grew its holdings in shares of ConocoPhillips by 1.2% during the second quarter. Whalerock Point Partners LLC now owns 8,300 shares of the energy producer’s stock valued at $365,000 after buying an additional 100 shares in the last quarter. Finally, Benchmark Capital Advisors grew its holdings in shares of ConocoPhillips by 0.9% during the second quarter. Benchmark Capital Advisors now owns 11,350 shares of the energy producer’s stock valued at $499,000 after buying an additional 100 shares in the last quarter. 70.49% of the stock is currently owned by institutional investors.
In related news, Director Charles E. Bunch purchased 2,000 shares of ConocoPhillips stock in a transaction on Monday, December 11th. The stock was bought at an average price of $52.06 per share, with a total value of $104,120.00. Following the completion of the transaction, the director now directly owns 3,429 shares of the company’s stock, valued at $178,513.74. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.82% of the stock is owned by insiders.
COP has been the topic of a number of research analyst reports. Royal Bank of Canada lifted their price target on ConocoPhillips from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, November 9th. Morgan Stanley lifted their price target on ConocoPhillips from $48.00 to $65.00 and gave the company an “equal weight” rating in a report on Wednesday, January 24th. Cowen set a $70.00 price target on ConocoPhillips and gave the company a “buy” rating in a report on Thursday, January 18th. Credit Suisse Group initiated coverage on ConocoPhillips in a report on Monday, December 11th. They set a “neutral” rating and a $50.00 price target on the stock. Finally, Howard Weil downgraded ConocoPhillips from a “focus list” rating to an “outperform” rating and set a $58.00 price target on the stock. in a report on Friday, December 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $58.53.
ConocoPhillips (COP) opened at $53.75 on Thursday. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.38 and a quick ratio of 2.23. ConocoPhillips has a 52 week low of $42.26 and a 52 week high of $61.31. The company has a market capitalization of $64,413.86, a PE ratio of 75.12, a price-to-earnings-growth ratio of 1.75 and a beta of 1.32.
ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, February 1st. The energy producer reported $0.45 EPS for the quarter, meeting analysts’ consensus estimates of $0.45. ConocoPhillips had a positive return on equity of 2.78% and a negative net margin of 2.04%. The firm had revenue of $8.74 billion for the quarter, compared to the consensus estimate of $7.70 billion. During the same quarter in the previous year, the company posted ($0.26) earnings per share. equities research analysts forecast that ConocoPhillips will post 2.85 EPS for the current fiscal year.
ConocoPhillips announced that its Board of Directors has authorized a share repurchase program on Wednesday, November 8th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the energy producer to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Monday, February 12th will be given a $0.285 dividend. The ex-dividend date of this dividend is Friday, February 9th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.12%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.27. ConocoPhillips’s payout ratio is currently -228.00%.
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ConocoPhillips Company Profile
ConocoPhillips is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG) and natural gas liquids. The Company operates through five segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.
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