Commonwealth Equity Services LLC Raises Stock Position in ConocoPhillips (NYSE:COP)

Commonwealth Equity Services LLC lifted its stake in ConocoPhillips (NYSE:COP) by 10.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 357,420 shares of the energy producer’s stock after buying an additional 33,072 shares during the period. Commonwealth Equity Services LLC’s holdings in ConocoPhillips were worth $37,032,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in ConocoPhillips during the 2nd quarter worth approximately $274,000. Daymark Wealth Partners LLC boosted its stake in ConocoPhillips by 130.0% during the 2nd quarter. Daymark Wealth Partners LLC now owns 7,375 shares of the energy producer’s stock worth $764,000 after purchasing an additional 4,168 shares during the period. Summit Global Investments purchased a new position in ConocoPhillips during the 2nd quarter worth $585,000. EP Wealth Advisors LLC acquired a new position in ConocoPhillips in the first quarter valued at $258,000. Finally, Astoria Portfolio Advisors LLC. raised its holdings in shares of ConocoPhillips by 17.7% in the second quarter. Astoria Portfolio Advisors LLC. now owns 4,580 shares of the energy producer’s stock valued at $506,000 after buying an additional 690 shares during the last quarter. 80.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on COP. Raymond James dropped their price target on ConocoPhillips from $142.00 to $138.00 and set a “strong-buy” rating on the stock in a research report on Monday, July 24th. Bank of America upped their price target on ConocoPhillips from $145.00 to $150.00 in a research note on Wednesday, September 27th. Johnson Rice began coverage on shares of ConocoPhillips in a research report on Tuesday, November 14th. They issued an “accumulate” rating and a $135.00 price objective on the stock. Susquehanna cut their price objective on shares of ConocoPhillips from $153.00 to $152.00 and set a “positive” rating for the company in a research report on Wednesday, October 18th. Finally, UBS Group lifted their target price on shares of ConocoPhillips from $147.00 to $149.00 and gave the company a “buy” rating in a report on Wednesday, October 4th. Five research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus price target of $136.35.

Insider Buying and Selling at ConocoPhillips

In other 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 value of $69,546,516.00. Following the completion of the transaction, the chief executive officer now directly owns 18,187 shares of the company’s stock, valued at $2,221,360.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other ConocoPhillips news, Director Sharmila Mulligan sold 1,849 shares of ConocoPhillips stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $125.19, for a total value of $231,476.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ryan Michael Lance sold 569,400 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $122.14, for a total value of $69,546,516.00. Following the completion of the transaction, the chief executive officer now owns 18,187 shares of the company’s stock, valued at $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 owned by insiders.

ConocoPhillips Stock Up 2.3 %

Shares of NYSE COP opened at $114.59 on Friday. The firm’s 50-day moving average is $119.68 and its two-hundred day moving average is $112.41. The company has a market capitalization of $136.07 billion, a PE ratio of 12.52, a price-to-earnings-growth ratio of 0.68 and a beta of 1.28. ConocoPhillips has a 12-month low of $91.53 and a 12-month high of $130.55. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.66 and a quick ratio of 1.53.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, November 14th will be paid a $0.58 dividend. The ex-dividend date of this dividend is Monday, November 13th. This represents a $2.32 dividend on an annualized basis and a yield of 2.02%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.51. ConocoPhillips’s dividend 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.