Strategic Financial Concepts LLC Raises Stock Position in ConocoPhillips (NYSE:COP)

Strategic Financial Concepts LLC raised its holdings in ConocoPhillips (NYSE:COP) by 39.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,644 shares of the energy producer’s stock after purchasing an additional 1,033 shares during the quarter. Strategic Financial Concepts LLC’s holdings in ConocoPhillips were worth $464,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in COP. Ropes Wealth Advisors LLC boosted its holdings in ConocoPhillips by 48.7% during the third quarter. Ropes Wealth Advisors LLC now owns 3,776 shares of the energy producer’s stock worth $452,000 after buying an additional 1,237 shares in the last quarter. Golden State Equity Partners boosted its stake in shares of ConocoPhillips by 11.3% during the 3rd quarter. Golden State Equity Partners now owns 5,782 shares of the energy producer’s stock worth $693,000 after acquiring an additional 587 shares in the last quarter. Signet Investment Advisory Group Inc. grew its position in shares of ConocoPhillips by 1.7% during the 3rd quarter. Signet Investment Advisory Group Inc. now owns 21,650 shares of the energy producer’s stock valued at $2,594,000 after acquiring an additional 369 shares during the period. One Day In July LLC purchased a new position in shares of ConocoPhillips in the 3rd quarter valued at about $266,000. Finally, Meridian Financial Partners LLC acquired a new position in ConocoPhillips in the 3rd quarter worth about $218,000. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Price Performance

COP traded down $4.60 during trading on Tuesday, reaching $125.62. The company’s stock had a trading volume of 6,288,234 shares, compared to its average volume of 5,343,554. The company has a market cap of $147.78 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 2.72 and a beta of 1.24. The firm has a fifty day simple moving average of $123.20 and a two-hundred day simple moving average of $117.67. ConocoPhillips has a 1 year low of $95.70 and a 1 year high of $135.18. The company has a quick ratio of 1.29, a current ratio of 1.43 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last posted 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. 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 quarter last year, the firm earned $2.71 earnings per share. As a group, analysts anticipate that ConocoPhillips will post 9.57 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders 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 2.48%. The ex-dividend date was Thursday, February 15th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is currently 25.61%.

Analyst Upgrades and Downgrades

Several brokerages have commented on COP. Susquehanna raised their price objective on ConocoPhillips from $133.00 to $154.00 and gave the company a “positive” rating in a report on Monday, April 22nd. Morgan Stanley lifted their price target on shares of ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Mizuho restated a “neutral” rating and set a $139.00 price objective (up from $132.00) on shares of ConocoPhillips in a research report on Friday, March 22nd. Scotiabank increased 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. Finally, Wells Fargo & Company boosted their target price 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 analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $142.65.

Insider Activity

In related news, SVP Heather G. Hrap sold 4,548 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president now directly owns 2,654 shares in the company, valued at $293,399.70. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, VP Christopher P. Delk sold 8,505 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total value of $953,070.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Heather G. Hrap sold 4,548 shares of the 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 transaction, the senior vice president now owns 2,654 shares of the company’s stock, valued at $293,399.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 700,775 shares of company stock valued at $87,615,169. 0.34% of the stock is currently owned by insiders.

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.