VCI Wealth Management LLC Makes New Investment in ConocoPhillips (NYSE:COP)

VCI Wealth Management LLC acquired a new position in shares of ConocoPhillips (NYSE:COP) during the 4th quarter, HoldingsChannel reports. The institutional investor acquired 8,024 shares of the energy producer’s stock, valued at approximately $931,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Northern Trust Corp increased its holdings in shares of ConocoPhillips by 3.2% in the 3rd quarter. Northern Trust Corp now owns 12,486,871 shares of the energy producer’s stock valued at $1,495,927,000 after purchasing an additional 386,276 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of ConocoPhillips by 10.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 12,028,061 shares of the energy producer’s stock valued at $1,440,962,000 after purchasing an additional 1,152,907 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of ConocoPhillips by 8.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 8,063,795 shares of the energy producer’s stock valued at $968,410,000 after purchasing an additional 659,632 shares during the period. Lazard Asset Management LLC increased its holdings in shares of ConocoPhillips by 1.1% in the 3rd quarter. Lazard Asset Management LLC now owns 7,086,681 shares of the energy producer’s stock valued at $848,984,000 after purchasing an additional 74,278 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of ConocoPhillips by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,472,590 shares of the energy producer’s stock valued at $775,416,000 after purchasing an additional 33,466 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on COP shares. Scotiabank increased their price objective on ConocoPhillips from $120.00 to $135.00 and gave the stock a “sector perform” rating in a report on Thursday, April 11th. Mizuho restated a “neutral” rating and issued a $139.00 price objective (up previously from $132.00) on shares of ConocoPhillips in a report on Friday, March 22nd. Raymond James dropped their price objective on ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th. Susquehanna increased their price objective on ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a report on Monday. Finally, Morgan Stanley increased their price target on ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $143.24.

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 stock was 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 directly owns 2,654 shares of the company’s stock, valued at $293,399.70. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other ConocoPhillips news, VP Christopher P. Delk sold 8,505 shares of ConocoPhillips stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total transaction of $953,070.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction, the senior vice president now directly owns 2,654 shares of the company’s stock, valued at $293,399.70. 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 ninety days. 0.34% of the stock is owned by company insiders.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock traded up $0.79 during midday trading on Thursday, hitting $130.07. The company had a trading volume of 3,664,033 shares, compared to its average volume of 5,355,984. The business’s 50 day simple moving average is $121.71 and its two-hundred day simple moving average is $117.49. The stock has a market cap of $153.02 billion, a PE ratio of 14.27, a P/E/G ratio of 2.71 and a beta of 1.24. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.29. ConocoPhillips has a 1-year low of $95.70 and a 1-year high of $135.18.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, topping the consensus estimate of $2.08 by $0.32. The firm had revenue of $15.31 billion during the quarter, compared to analysts’ expectations of $14.47 billion. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. During the same period last year, the business earned $2.71 earnings per share. As a group, equities analysts predict that ConocoPhillips will post 9.57 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were given a $0.78 dividend. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.40%. The ex-dividend date was Thursday, February 15th. ConocoPhillips’s dividend payout ratio (DPR) is 25.61%.

ConocoPhillips Company 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.