Bradley Foster & Sargent Inc. CT Acquires New Position in ConocoPhillips (COP)

Bradley Foster & Sargent Inc. CT acquired a new stake in ConocoPhillips (NYSE:COP) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,218 shares of the energy producer’s stock, valued at approximately $249,000.

A number of other large investors have also added to or reduced their stakes in the business. IMA Wealth Inc. acquired a new position in shares of ConocoPhillips in the second quarter valued at approximately $100,000. Acropolis Investment Management LLC acquired a new position in shares of ConocoPhillips in the second quarter valued at approximately $107,000. Palo Capital Inc. acquired a new position in shares of ConocoPhillips in the third quarter valued at approximately $131,000. Adviser Investments LLC grew its position in shares of ConocoPhillips by 139.4% in the second quarter. Adviser Investments LLC now owns 1,956 shares of the energy producer’s stock valued at $136,000 after purchasing an additional 1,139 shares during the last quarter. Finally, Lucia Wealth Services LLC grew its position in shares of ConocoPhillips by 541.3% in the second quarter. Lucia Wealth Services LLC now owns 2,251 shares of the energy producer’s stock valued at $157,000 after purchasing an additional 1,900 shares during the last quarter. Hedge funds and other institutional investors own 71.67% of the company’s stock.

Several equities analysts have recently commented on the company. Zacks Investment Research raised ConocoPhillips from a “hold” rating to a “buy” rating and set a $81.00 target price on the stock in a research report on Thursday, August 23rd. ValuEngine downgraded ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Tuesday, October 23rd. Mizuho reaffirmed a “hold” rating and issued a $82.00 target price on shares of ConocoPhillips in a research report on Monday, October 22nd. Barclays upped their target price on ConocoPhillips from $78.00 to $84.00 and gave the company an “overweight” rating in a research report on Wednesday, July 11th. Finally, JPMorgan Chase & Co. upped their target price on ConocoPhillips from $82.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, July 27th. Eight analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $75.53.

In other ConocoPhillips news, Chairman Ryan Michael Lance sold 160,064 shares of the firm’s stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $72.07, for a total value of $11,535,812.48. Following the sale, the chairman now owns 106,312 shares of the company’s stock, valued at approximately $7,661,905.84. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Don E. Jr. Wallette sold 59,432 shares of the firm’s stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $71.87, for a total value of $4,271,377.84. Following the completion of the sale, the insider now directly owns 83,047 shares in the company, valued at approximately $5,968,587.89. The disclosure for this sale can be found here. In the last ninety days, insiders sold 288,378 shares of company stock worth $20,769,145. Company insiders own 0.88% of the company’s stock.

Shares of NYSE:COP opened at $67.84 on Friday. The company has a market cap of $80.79 billion, a P/E ratio of 113.07, a P/E/G ratio of 1.62 and a beta of 1.23. ConocoPhillips has a 1 year low of $48.97 and a 1 year high of $80.24. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.58 and a current ratio of 1.75.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 25th. The energy producer reported $1.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.19. The business had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.48 billion. ConocoPhillips had a return on equity of 14.76% and a net margin of 16.08%. On average, analysts anticipate that ConocoPhillips will post 4.76 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Monday, October 15th will be issued a $0.305 dividend. This represents a $1.22 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend is Friday, October 12th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.29. ConocoPhillips’s dividend payout ratio (DPR) is currently 203.33%.

ConocoPhillips announced that its Board of Directors has authorized a share buyback plan on Thursday, July 12th that allows the company to repurchase $9.00 billion in outstanding shares. This repurchase authorization allows the energy producer to buy up to 10.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

ConocoPhillips Company Profile

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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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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