Capital Asset Advisory Services LLC Boosts Holdings in ConocoPhillips (NYSE:COP)

Capital Asset Advisory Services LLC lifted its stake in shares of ConocoPhillips (NYSE:COP) by 7.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,490 shares of the energy producer’s stock after buying an additional 1,793 shares during the quarter. Capital Asset Advisory Services LLC’s holdings in ConocoPhillips were worth $2,476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Values First Advisors Inc. bought a new position in shares of ConocoPhillips during the third quarter valued at $26,000. Albion Financial Group UT grew its position in ConocoPhillips by 876.9% during the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after purchasing an additional 228 shares during the last quarter. Reston Wealth Management LLC bought a new stake in ConocoPhillips during the 3rd quarter valued at about $31,000. Truvestments Capital LLC bought a new position in shares of ConocoPhillips in the third quarter worth approximately $31,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in shares of ConocoPhillips during the third quarter valued at approximately $35,000. 82.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on COP. JPMorgan Chase & Co. upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $120.00 to $123.00 in a research note on Thursday, December 5th. Scotiabank lowered their target price on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. TD Cowen began coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They issued a “buy” rating and a $125.00 price target for the company. Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $132.00 to $134.00 in a research report on Monday, December 16th. Finally, Wells Fargo & Company cut their target price on shares of ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $135.89.

ConocoPhillips Stock Performance

Shares of NYSE:COP opened at $101.88 on Monday. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 52 week low of $94.23 and a 52 week high of $135.18. The firm has a fifty day simple moving average of $102.98 and a two-hundred day simple moving average of $107.10. The stock has a market capitalization of $117.26 billion, a P/E ratio of 12.11, a PEG ratio of 0.86 and a beta of 1.19.

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

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were paid a $0.78 dividend. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend was Friday, November 8th. ConocoPhillips’s dividend payout ratio is currently 37.10%.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, Director Arjun N. Murti acquired 2,500 shares of ConocoPhillips stock in a transaction that occurred on Friday, December 20th. The stock was bought at an average price of $95.87 per share, with a total value 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. This represents a 13.16 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director R A. Walker acquired 10,400 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The shares were bought at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the transaction, the director now owns 38,000 shares of the company’s stock, valued at $3,716,400. This represents a 37.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate 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.