ConocoPhillips (NYSE:COP) Position Increased by Cetera Advisor Networks LLC

Cetera Advisor Networks LLC raised its holdings in shares of ConocoPhillips (NYSE:COP) by 9.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 145,505 shares of the energy producer’s stock after buying an additional 12,772 shares during the period. Cetera Advisor Networks LLC’s holdings in ConocoPhillips were worth $15,076,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in COP. GraniteShares Advisors LLC purchased a new position in ConocoPhillips during the 2nd quarter worth approximately $352,000. Strategic Financial Services Inc grew its position in ConocoPhillips by 8.2% during the 2nd quarter. Strategic Financial Services Inc now owns 2,337 shares of the energy producer’s stock worth $272,000 after purchasing an additional 178 shares in the last quarter. Beverly Hills Private Wealth LLC grew its position in ConocoPhillips by 58.6% during the 2nd quarter. Beverly Hills Private Wealth LLC now owns 5,915 shares of the energy producer’s stock worth $673,000 after purchasing an additional 2,185 shares in the last quarter. Cetera Investment Advisers grew its position in ConocoPhillips by 0.4% during the 2nd quarter. Cetera Investment Advisers now owns 68,285 shares of the energy producer’s stock worth $7,075,000 after purchasing an additional 245 shares in the last quarter. Finally, Summit X LLC grew its position in ConocoPhillips by 57.0% during the 2nd quarter. Summit X LLC now owns 4,331 shares of the energy producer’s stock worth $449,000 after purchasing an additional 1,572 shares in the last quarter. 80.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on COP shares. Erste Group Bank upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. Jefferies Financial Group lifted their target price on shares of ConocoPhillips from $141.00 to $143.00 and gave the company a “buy” rating in a research note on Monday, October 2nd. Wells Fargo & Company lifted their target price on shares of ConocoPhillips from $134.00 to $138.00 and gave the company an “overweight” rating in a research note on Friday, August 4th. Morgan Stanley lifted their target price on shares of ConocoPhillips from $124.00 to $125.00 and gave the company an “overweight” rating in a research note on Monday, October 2nd. Finally, Raymond James decreased their target price on shares of ConocoPhillips from $142.00 to $138.00 and set a “strong-buy” rating for the company in a research note on Monday, July 24th. Five equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $136.35.

Insider Transactions at ConocoPhillips

In other news, SVP Andrew D. Lundquist sold 30,800 shares of the business’s stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $123.83, for a total transaction of $3,813,964.00. Following the transaction, the senior vice president now owns 5,937 shares in the company, valued at approximately $735,178.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, SVP Andrew D. Lundquist sold 30,800 shares of the company’s stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $123.83, for a total value of $3,813,964.00. Following the sale, the senior vice president now owns 5,937 shares of the company’s stock, valued at $735,178.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Michael Lance sold 569,400 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $122.14, for a total transaction of $69,546,516.00. Following the completion of the sale, the chief executive officer now directly owns 18,187 shares in the company, valued at approximately $2,221,360.18. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 646,049 shares of company stock worth $78,636,116. 0.37% of the stock is currently owned by company insiders.

ConocoPhillips Stock Performance

Shares of COP opened at $111.99 on Friday. The company’s fifty day moving average price is $119.85 and its 200 day moving average price is $112.23. ConocoPhillips has a one year low of $91.53 and a one year high of $131.37. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.66 and a quick ratio of 1.53. The company has a market capitalization of $132.98 billion, a PE ratio of 12.24, a price-to-earnings-growth ratio of 0.70 and a beta of 1.28.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, November 14th will be issued a dividend of $0.58 per share. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.51. The ex-dividend date is Monday, November 13th. This represents a $2.32 annualized dividend and a dividend yield of 2.07%. ConocoPhillips’s payout ratio is presently 25.36%.

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 and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.