Greenup Street Wealth Management LLC Invests $917,000 in ConocoPhillips $COP

Greenup Street Wealth Management LLC bought a new stake in shares of ConocoPhillips (NYSE:COP) during the 3rd quarter, Holdings Channel reports. The fund bought 9,691 shares of the energy producer’s stock, valued at approximately $917,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Navalign LLC increased its position in ConocoPhillips by 1.1% during the 2nd quarter. Navalign LLC now owns 9,918 shares of the energy producer’s stock valued at $890,000 after purchasing an additional 108 shares during the period. Greenfield Savings Bank boosted its stake in shares of ConocoPhillips by 1.2% during the 3rd quarter. Greenfield Savings Bank now owns 9,018 shares of the energy producer’s stock valued at $853,000 after purchasing an additional 108 shares in the last quarter. Tritonpoint Wealth LLC increased its position in shares of ConocoPhillips by 1.3% during the second quarter. Tritonpoint Wealth LLC now owns 8,329 shares of the energy producer’s stock valued at $747,000 after buying an additional 110 shares during the period. Iowa State Bank raised its stake in ConocoPhillips by 0.5% in the second quarter. Iowa State Bank now owns 22,193 shares of the energy producer’s stock worth $1,992,000 after buying an additional 110 shares in the last quarter. Finally, Perennial Investment Advisors LLC lifted its holdings in ConocoPhillips by 2.8% in the second quarter. Perennial Investment Advisors LLC now owns 4,097 shares of the energy producer’s stock worth $368,000 after buying an additional 112 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insider Buying and Selling

In related news, CEO Ryan Michael Lance sold 500,708 shares of the firm’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $92.50, for a total transaction of $46,315,490.00. Following the completion of the sale, the chief executive officer owned 325,972 shares of the company’s stock, valued at $30,152,410. This trade represents a 60.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William H. Mcraven acquired 5,768 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The stock was purchased at an average price of $86.68 per share, with a total value of $499,970.24. Following the completion of the acquisition, the director owned 5,768 shares in the company, valued at $499,970.24. The trade was a ? increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 0.24% of the company’s stock.

ConocoPhillips Trading Down 0.3%

NYSE COP opened at $91.53 on Friday. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $106.20. The stock has a market cap of $113.10 billion, a P/E ratio of 12.95, a P/E/G ratio of 2.08 and a beta of 0.32. The stock’s fifty day moving average price is $90.05 and its 200-day moving average price is $92.51. The company has a current ratio of 1.32, a quick ratio of 1.18 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, November 6th. The energy producer reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.20. ConocoPhillips had a return on equity of 13.64% and a net margin of 14.25%.The firm had revenue of $15.03 billion during the quarter, compared to analyst estimates of $14.51 billion. During the same quarter in the previous year, the firm earned $1.78 EPS. ConocoPhillips’s quarterly revenue was up 14.1% compared to the same quarter last year. As a group, equities analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 17th were paid a $0.84 dividend. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.78. This represents a $3.36 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Monday, November 17th. ConocoPhillips’s payout ratio is currently 47.52%.

Analysts Set New Price Targets

Several research firms have weighed in on COP. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of ConocoPhillips in a research report on Monday. Mizuho upped their price target on ConocoPhillips from $120.00 to $121.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. Wall Street Zen upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. BMO Capital Markets dropped their target price on shares of ConocoPhillips from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, December 15th. Finally, Johnson Rice lowered shares of ConocoPhillips from an “accumulate” rating to a “hold” rating and decreased their price target for the stock from $108.00 to $105.00 in a research note on Friday, December 5th. Nineteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $114.08.

ConocoPhillips Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.