ConocoPhillips (NYSE:COP) Stock Position Raised by Western Wealth Management LLC

Western Wealth Management LLC lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 22.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,561 shares of the energy producer’s stock after buying an additional 5,054 shares during the period. Western Wealth Management LLC’s holdings in ConocoPhillips were worth $3,199,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Moneta Group Investment Advisors LLC grew its position in ConocoPhillips by 98,832.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 8,584,373 shares of the energy producer’s stock worth $1,012,956,000 after purchasing an additional 8,575,696 shares during the last quarter. Morgan Stanley grew its position in ConocoPhillips by 26.6% in the 4th quarter. Morgan Stanley now owns 16,647,723 shares of the energy producer’s stock worth $1,964,432,000 after purchasing an additional 3,497,750 shares during the last quarter. Alphinity Investment Management Pty Ltd bought a new position in ConocoPhillips in the 3rd quarter worth about $310,102,000. Cowa LLC grew its position in ConocoPhillips by 6,475.2% in the 1st quarter. Cowa LLC now owns 2,375,224 shares of the energy producer’s stock worth $2,383,000 after purchasing an additional 2,339,100 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. bought a new position in ConocoPhillips in the 4th quarter worth about $186,330,000. Institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on COP shares. Morgan Stanley upped their target price on shares of ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Barclays began coverage on shares of ConocoPhillips in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $158.00 price target for the company. Mizuho reaffirmed a “neutral” rating and issued a $139.00 price target (up from $132.00) on shares of ConocoPhillips in a research note on Friday, March 22nd. Raymond James reduced their price target on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. Finally, Wells Fargo & Company upped their price target on shares of ConocoPhillips from $141.00 to $149.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 10th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $142.00.

Insiders Place Their Bets

In other ConocoPhillips news, CEO Ryan Michael Lance sold 607,000 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $125.91, for a total value of $76,427,370.00. Following the completion of the sale, the chief executive officer now owns 6,780 shares in the company, valued at approximately $853,669.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other ConocoPhillips news, CEO Ryan Michael Lance sold 607,000 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $125.91, for a total value of $76,427,370.00. Following the completion of the sale, the chief executive officer now owns 6,780 shares in the company, valued at approximately $853,669.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Nicholas G. Olds sold 12,150 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the transaction, the executive vice president now owns 14,522 shares in the company, valued at approximately $1,836,161.68. The disclosure for this sale can be found here. Insiders sold a total of 700,775 shares of company stock worth $87,615,169 in the last quarter. 0.34% of the stock is currently owned by corporate insiders.

ConocoPhillips Trading Down 0.4 %

Shares of NYSE:COP traded down $0.52 during mid-day trading on Thursday, hitting $127.81. The stock had a trading volume of 3,578,165 shares, compared to its average volume of 5,453,397. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.29 and a current ratio of 1.43. The company has a market cap of $150.36 billion, a PE ratio of 14.09, a P/E/G ratio of 2.77 and a beta of 1.24. ConocoPhillips has a 12-month low of $95.70 and a 12-month high of $135.18. The company’s 50 day moving average is $119.92 and its 200-day moving average is $117.01.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, beating 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 quarter in the prior year, the firm earned $2.71 EPS. On average, sell-side analysts predict that ConocoPhillips will post 9.35 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were given a $0.78 dividend. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Thursday, February 15th. This represents a $3.12 dividend on an annualized basis and a yield of 2.44%. ConocoPhillips’s dividend payout ratio is presently 25.61%.

About ConocoPhillips

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.