12,430 ConocoPhillips $COP Shares Acquired by Shulman DeMeo Asset Management LLC

Shulman DeMeo Asset Management LLC increased its holdings in ConocoPhillips (NYSE:COP) by 376.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,735 shares of the energy producer’s stock after acquiring an additional 12,430 shares during the quarter. ConocoPhillips comprises approximately 0.7% of Shulman DeMeo Asset Management LLC’s portfolio, making the stock its 20th biggest position. Shulman DeMeo Asset Management LLC’s holdings in ConocoPhillips were worth $1,969,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of COP. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in shares of ConocoPhillips during the 4th quarter worth approximately $25,000. Frazier Financial Advisors LLC lifted its stake in shares of ConocoPhillips by 151.0% in the 1st quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock valued at $32,000 after purchasing an additional 145 shares during the period. Allied Private Wealth LLC purchased a new position in shares of ConocoPhillips in the 2nd quarter valued at approximately $32,000. Evergreen Advisors LLC bought a new stake in shares of ConocoPhillips during the first quarter valued at approximately $36,000. Finally, Ballast Advisors LLC bought a new stake in shares of ConocoPhillips during the first quarter valued at approximately $36,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at ConocoPhillips

In related news, SVP Andrew Lundquist sold 9,487 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the sale, the senior vice president directly owned 9,593 shares of the company’s stock, valued at approximately $1,296,493.95. This represents a 49.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.09% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have issued reports on COP. Stifel Nicolaus initiated coverage on ConocoPhillips in a report on Thursday, September 10th. They issued a “hold” rating and a $148.00 price objective for the company. Wells Fargo & Company boosted their target price on shares of ConocoPhillips from $183.00 to $189.00 and gave the company an “overweight” rating in a report on Friday, August 7th. UBS Group upped their target price on shares of ConocoPhillips from $153.00 to $169.00 and gave the stock a “buy” rating in a research report on Monday, September 14th. Susquehanna increased their price target on shares of ConocoPhillips from $155.00 to $161.00 and gave the stock a “positive” rating in a research note on Tuesday, August 11th. Finally, Wall Street Zen raised shares of ConocoPhillips from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and a consensus price target of $143.29.

ConocoPhillips Stock Down 0.1%

COP stock traded down $0.07 on Friday, reaching $134.12. 3,838,279 shares of the company traded hands, compared to its average volume of 8,112,801. The firm has a fifty day simple moving average of $129.66 and a 200-day simple moving average of $122.05. The company has a market cap of $161.12 billion, a P/E ratio of 17.74, a price-to-earnings-growth ratio of 1.35 and a beta of 0.24. ConocoPhillips has a one year low of $85.57 and a one year high of $141.62. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.39.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, topping the consensus estimate of $2.90 by $0.34. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.The business had revenue of $19.52 billion for the quarter, compared to the consensus estimate of $18.79 billion. During the same period in the previous year, the company posted $1.42 earnings per share. The company’s revenue for the quarter was up 32.4% compared to the same quarter last year. Research analysts anticipate that ConocoPhillips will post 10.68 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were given a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, August 17th. ConocoPhillips’s payout ratio is currently 44.44%.

ConocoPhillips Profile

ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged in finding, developing and producing crude oil, natural gas, natural gas liquids and liquefied natural gas. Unlike integrated energy companies, ConocoPhillips focuses primarily on upstream activities rather than refining and retail fuel operations.

The company has a diversified portfolio of assets in major producing regions, including the United States, Canada, Australia, Norway and Qatar. Its U.S. operations include oil and gas developments in Alaska and the Lower 48 states, while its international portfolio includes conventional and offshore projects.