Stratos Wealth Partners LTD. raised its position in ConocoPhillips (NYSE:COP) by 19.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,801 shares of the energy producer’s stock after buying an additional 5,614 shares during the period. Stratos Wealth Partners LTD.’s holdings in ConocoPhillips were worth $2,064,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of ConocoPhillips by 468.8% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,820 shares of the energy producer’s stock worth $100,000 after purchasing an additional 1,500 shares in the last quarter. Centaurus Financial Inc. acquired a new position in shares of ConocoPhillips during the first quarter worth approximately $104,000. Truewealth LLC acquired a new position in shares of ConocoPhillips during the fourth quarter worth approximately $138,000. First Personal Financial Services lifted its position in shares of ConocoPhillips by 111.9% during the fourth quarter. First Personal Financial Services now owns 2,649 shares of the energy producer’s stock worth $145,000 after purchasing an additional 1,399 shares in the last quarter. Finally, Delpha Capital Management LLC acquired a new position in shares of ConocoPhillips during the fourth quarter worth approximately $149,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.
In other ConocoPhillips news, SVP Andrew D. Lundquist sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, March 29th. The shares were sold at an average price of $58.96, for a total value of $1,474,000.00. Following the completion of the sale, the senior vice president now owns 27,353 shares of the company’s stock, valued at $1,612,732.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Glenda Mae Schwarz sold 6,763 shares of the company’s stock in a transaction that occurred on Friday, May 25th. The shares were sold at an average price of $65.04, for a total transaction of $439,865.52. Following the completion of the sale, the vice president now directly owns 10,182 shares of the company’s stock, valued at approximately $662,237.28. The disclosure for this sale can be found here. Insiders sold 309,052 shares of company stock valued at $20,965,534 in the last ninety days. Insiders own 0.88% of the company’s stock.
COP opened at $65.47 on Friday. ConocoPhillips has a fifty-two week low of $42.26 and a fifty-two week high of $71.71. The company has a quick ratio of 1.71, a current ratio of 1.86 and a debt-to-equity ratio of 0.54. The company has a market cap of $76.60 billion, a P/E ratio of 38.29, a price-to-earnings-growth ratio of 1.97 and a beta of 1.22.
ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, April 26th. The energy producer reported $0.96 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.22. ConocoPhillips had a negative net margin of 1.64% and a positive return on equity of 6.69%. The firm had revenue of $8.96 billion during the quarter, compared to the consensus estimate of $8.68 billion. During the same quarter in the prior year, the firm earned ($0.02) earnings per share. equities research analysts anticipate that ConocoPhillips will post 3.69 earnings per share for the current fiscal year.
ConocoPhillips announced that its Board of Directors has approved a stock buyback plan on Thursday, February 1st that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the energy producer to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Monday, May 14th will be paid a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 1.74%. The ex-dividend date is Friday, May 11th. ConocoPhillips’s payout ratio is presently 190.00%.
A number of equities analysts have recently issued reports on the stock. Argus set a $76.00 target price on shares of ConocoPhillips and gave the stock a “buy” rating in a research report on Friday, May 4th. Barclays upped their target price on shares of ConocoPhillips from $71.00 to $78.00 and gave the stock an “overweight” rating in a research report on Friday, April 27th. TheStreet upgraded shares of ConocoPhillips from a “c+” rating to a “b-” rating in a research report on Wednesday, April 25th. Macquarie lowered shares of 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 lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Friday, April 20th. One analyst has rated the stock with a sell rating, eight have issued 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.
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.
Want to see what other hedge funds are holding COP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ConocoPhillips (NYSE:COP).
Receive News & Ratings for ConocoPhillips Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ConocoPhillips and related companies with MarketBeat.com's FREE daily email newsletter.