Wintrust Investments LLC Cuts Position in ConocoPhillips (NYSE:COP)

Wintrust Investments LLC trimmed its position in shares of ConocoPhillips (NYSE:COP) by 22.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,533 shares of the energy producer’s stock after selling 718 shares during the period. Wintrust Investments LLC’s holdings in ConocoPhillips were worth $262,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Tevis Investment Management increased its stake in shares of ConocoPhillips by 2.7% during the second quarter. Tevis Investment Management now owns 3,294 shares of the energy producer’s stock worth $341,000 after buying an additional 87 shares during the period. Aspire Private Capital LLC raised its position in ConocoPhillips by 1.5% in the second quarter. Aspire Private Capital LLC now owns 6,072 shares of the energy producer’s stock worth $629,000 after acquiring an additional 92 shares in the last quarter. Signet Investment Advisory Group Inc. raised its position in ConocoPhillips by 0.4% in the second quarter. Signet Investment Advisory Group Inc. now owns 21,281 shares of the energy producer’s stock worth $2,205,000 after acquiring an additional 95 shares in the last quarter. Hills Bank & Trust Co increased its position in shares of ConocoPhillips by 5.2% in the second quarter. Hills Bank & Trust Co now owns 2,001 shares of the energy producer’s stock valued at $207,000 after buying an additional 99 shares in the last quarter. Finally, Oakwell Private Wealth Management LLC increased its position in shares of ConocoPhillips by 2.2% in the second quarter. Oakwell Private Wealth Management LLC now owns 4,518 shares of the energy producer’s stock valued at $468,000 after buying an additional 99 shares in the last quarter. 80.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Price Performance

COP stock opened at $114.59 on Friday. ConocoPhillips has a 52-week low of $91.53 and a 52-week high of $130.55. The company has a quick ratio of 1.53, a current ratio of 1.66 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $136.07 billion, a PE ratio of 12.52, a P/E/G ratio of 0.68 and a beta of 1.28. The stock’s 50 day moving average is $119.68 and its two-hundred day moving average is $112.31.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, November 14th will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.02%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Monday, November 13th. ConocoPhillips’s payout ratio is 25.36%.

Insider Activity

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

Analyst Ratings Changes

A number of research firms recently commented on COP. StockNews.com began coverage on ConocoPhillips in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Bank of America raised their price target on ConocoPhillips from $145.00 to $150.00 in a research note on Wednesday, September 27th. Jefferies Financial Group lifted their price objective on ConocoPhillips from $141.00 to $143.00 and gave the company a “buy” rating in a research note on Monday, October 2nd. Royal Bank of Canada lifted their price objective on ConocoPhillips from $130.00 to $135.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, UBS Group lifted their price objective on ConocoPhillips from $147.00 to $149.00 and gave the company a “buy” rating in a research note on Wednesday, October 4th. Five investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $136.35.

ConocoPhillips Company 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 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.