Stockman Wealth Management Inc. Sells 1,643 Shares of ConocoPhillips (NYSE:COP)

Stockman Wealth Management Inc. lessened its stake in shares of ConocoPhillips (NYSE:COP) by 28.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,170 shares of the energy producer’s stock after selling 1,643 shares during the period. Stockman Wealth Management Inc.’s holdings in ConocoPhillips were worth $484,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Orion Capital Management LLC bought a new position in shares of ConocoPhillips in the 3rd quarter valued at about $27,000. West Branch Capital LLC increased its position in shares of ConocoPhillips by 87.8% during the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock worth $27,000 after acquiring an additional 108 shares during the period. Oliver Lagore Vanvalin Investment Group increased its position in shares of ConocoPhillips by 63.1% during the third quarter. Oliver Lagore Vanvalin Investment Group now owns 287 shares of the energy producer’s stock worth $34,000 after acquiring an additional 111 shares during the period. Spartan Planning & Wealth Management purchased a new position in shares of ConocoPhillips during the third quarter worth approximately $40,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of ConocoPhillips during the third quarter worth approximately $44,000. Institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on COP. Susquehanna raised their target price on shares of ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a research report on Monday. UBS Group lifted their price objective on shares of ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Scotiabank lifted their price objective on shares of ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. Barclays assumed coverage on shares of ConocoPhillips in a report on Wednesday, April 10th. They set an “overweight” rating and a $158.00 price objective on the stock. Finally, Raymond James cut their price objective on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th. Five 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $143.24.

ConocoPhillips Stock Performance

Shares of NYSE:COP traded down $0.05 on Monday, hitting $129.33. 4,184,243 shares of the company were exchanged, compared to its average volume of 5,418,109. 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 $120.93 and its 200 day moving average price is $117.31. The company has a current ratio of 1.43, a quick ratio of 1.29 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $152.14 billion, a P/E ratio of 14.27, a price-to-earnings-growth ratio of 2.73 and a beta of 1.24.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, topping the consensus estimate of $2.08 by $0.32. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. The business had revenue of $15.31 billion during the quarter, compared to the consensus estimate of $14.47 billion. During the same period in the previous year, the firm posted $2.71 earnings per share. Sell-side analysts predict that ConocoPhillips will post 9.47 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend was Thursday, February 15th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is 25.61%.

Insider Buying and Selling

In related news, SVP Heather G. Hrap sold 4,548 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total transaction of $502,781.40. Following the completion of the transaction, the senior vice president now owns 2,654 shares of the company’s stock, valued at $293,399.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other ConocoPhillips news, SVP Heather G. Hrap sold 4,548 shares of ConocoPhillips stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total value of $502,781.40. Following the completion of the transaction, the senior vice president now owns 2,654 shares of the company’s stock, valued at $293,399.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Christopher P. Delk sold 8,505 shares of ConocoPhillips stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total transaction of $953,070.30. The disclosure for this sale can be found here. Insiders sold a total of 700,775 shares of company stock valued at $87,615,169 over the last 90 days. Insiders own 0.34% of the company’s stock.

ConocoPhillips Profile

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.