Heritage Wealth Management Inc. Texas Has $414,000 Stock Holdings in ConocoPhillips (NYSE:COP)

Heritage Wealth Management Inc. Texas lowered its position in ConocoPhillips (NYSE:COP) by 24.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,176 shares of the energy producer’s stock after selling 1,322 shares during the quarter. ConocoPhillips accounts for 0.2% of Heritage Wealth Management Inc. Texas’ holdings, making the stock its 23rd largest position. Heritage Wealth Management Inc. Texas’ holdings in ConocoPhillips were worth $414,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Tidal Investments LLC increased its stake in shares of ConocoPhillips by 42.7% in the third quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer’s stock valued at $10,902,000 after buying an additional 31,011 shares during the period. Brookstone Capital Management raised its holdings in ConocoPhillips by 4.5% during the 4th quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer’s stock worth $878,000 after purchasing an additional 383 shares during the last quarter. Prospera Financial Services Inc raised its stake in ConocoPhillips by 23.6% during the third quarter. Prospera Financial Services Inc now owns 71,097 shares of the energy producer’s stock worth $7,488,000 after buying an additional 13,595 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in ConocoPhillips by 1.9% during the third quarter. The Manufacturers Life Insurance Company now owns 2,489,514 shares of the energy producer’s stock worth $262,094,000 after purchasing an additional 46,621 shares during the period. Finally, Pacer Advisors Inc. grew its holdings in ConocoPhillips by 5,422.3% in the third quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock worth $482,996,000 after purchasing an additional 4,504,653 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other ConocoPhillips news, Director R A. Walker acquired 10,400 shares of the stock in a transaction dated Tuesday, December 17th. The stock was purchased at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the acquisition, the director now owns 38,000 shares in the company, valued at $3,716,400. The trade was a 37.68 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Arjun N. Murti acquired 2,500 shares of ConocoPhillips stock in a transaction dated Friday, December 20th. The shares were bought at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the purchase, the director now directly owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. The trade was a 13.16 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $104.07 on Friday. The firm’s 50 day simple moving average is $103.36 and its 200 day simple moving average is $107.22. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 1-year low of $94.23 and a 1-year high of $135.18. The firm has a market capitalization of $119.77 billion, a PE ratio of 12.37, a price-to-earnings-growth ratio of 0.86 and a beta of 1.19.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.10. The company had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The firm’s quarterly revenue was down 8.5% on a year-over-year basis. During the same quarter last year, the company earned $2.16 earnings per share. As a group, analysts expect that ConocoPhillips will post 7.65 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were issued a $0.78 dividend. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.00%. ConocoPhillips’s dividend payout ratio is presently 37.10%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on COP. Raymond James boosted their target price on ConocoPhillips from $148.00 to $157.00 and gave the company a “strong-buy” rating in a research report on Thursday. BMO Capital Markets upped their target price on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. TD Cowen initiated coverage on shares of ConocoPhillips in a research report on Friday, January 17th. They issued a “buy” rating and a $125.00 price target for the company. Wells Fargo & Company lowered their price objective on shares of ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating on the stock in a report on Tuesday, January 14th. Finally, Morgan Stanley assumed coverage on shares of ConocoPhillips in a report on Monday, December 16th. They set an “overweight” rating and a $128.00 price objective for the company. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $135.89.

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.