Legacy Wealth Management LLC MS Has $1.07 Million Holdings in ConocoPhillips $COP

Legacy Wealth Management LLC MS decreased its stake in ConocoPhillips (NYSE:COP) by 61.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,384 shares of the energy producer’s stock after selling 18,469 shares during the period. Legacy Wealth Management LLC MS’s holdings in ConocoPhillips were worth $1,066,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Tema Etfs LLC acquired a new stake in ConocoPhillips in the 3rd quarter valued at $1,804,000. Victory Capital Management Inc. raised its stake in ConocoPhillips by 14.7% during the third quarter. Victory Capital Management Inc. now owns 2,331,176 shares of the energy producer’s stock worth $220,506,000 after acquiring an additional 298,245 shares in the last quarter. Natixis Advisors LLC lifted its holdings in shares of ConocoPhillips by 8.7% during the third quarter. Natixis Advisors LLC now owns 1,996,426 shares of the energy producer’s stock valued at $188,842,000 after acquiring an additional 160,410 shares during the period. D.A. Davidson & CO. lifted its holdings in shares of ConocoPhillips by 12.1% during the third quarter. D.A. Davidson & CO. now owns 140,829 shares of the energy producer’s stock valued at $13,321,000 after acquiring an additional 15,202 shares during the period. Finally, Chilton Capital Management LLC boosted its stake in shares of ConocoPhillips by 3.2% in the 3rd quarter. Chilton Capital Management LLC now owns 389,995 shares of the energy producer’s stock valued at $36,890,000 after purchasing an additional 11,958 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $125.98 on Friday. The firm has a fifty day moving average of $108.71 and a two-hundred day moving average of $97.64. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.14 and a current ratio of 1.30. The stock has a market capitalization of $155.67 billion, a price-to-earnings ratio of 19.87, a PEG ratio of 3.40 and a beta of 0.27. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $126.35.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, February 5th. The energy producer reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.21). ConocoPhillips had a net margin of 12.98% and a return on equity of 11.90%. The firm had revenue of $13.86 billion during the quarter, compared to analyst estimates of $14.35 billion. During the same quarter in the prior year, the business earned $1.98 earnings per share. The business’s revenue was down 3.7% on a year-over-year basis. As a group, equities research analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Wednesday, February 18th were issued a $0.84 dividend. The ex-dividend date of this dividend was Wednesday, February 18th. This represents a $3.36 annualized dividend and a dividend yield of 2.7%. ConocoPhillips’s payout ratio is 53.00%.

Key Stories Impacting ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Strong industry tailwinds: oil prices jumped after missile attacks on Qatar energy assets, which typically lifts upstream producers’ near-term cash flows and sentiment. Oil Prices Surge After Attacks on Energy Assets in Qatar; Energy Stocks Higher in Premarket Trading
• Positive Sentiment: Strategic acreage gains: ConocoPhillips was among bidders in a record Alaska National Petroleum Reserve lease sale, signaling access to high-potential upstream inventory that can support long-term production growth. Record Arctic Alaska auction lures ExxonMobil, Shell, Repsol and ConocoPhillips
• Positive Sentiment: Record Alaska sale economic signal: Oil majors collectively bid ~$163M in the sale, underscoring strong industry appetite for U.S. exploration assets — a positive backdrop for COP’s growth outlook. Oil Giants Bid $163 Million in Trump’s Record Alaska Lease Sale
• Positive Sentiment: Analyst bullishness: Mizuho raised its COP price target to $136 and Barclays to $128, providing support for investor expectations. Mizuho Raises ConocoPhillips (NYSE:COP) Price Target to $136.00 Barclays Increases ConocoPhillips (NYSE:COP) Price Target to $128.00
• Positive Sentiment: Institutional buying: Advisory Services Network LLC disclosed an increase in COP holdings, signaling some investor confidence. Advisory Services Network LLC Grows Stock Holdings in ConocoPhillips $COP
• Positive Sentiment: Sector-level benefit: A CBS News analysis projects U.S. oil producers could see a multi?billion dollar boost from elevated crude prices in the near term, which supports COP’s cash flow outlook. U.S. oil producers could get $63 billion boost from high crude prices
• Neutral Sentiment: Upcoming earnings: COP scheduled its Q1 earnings call for April 30 — a key event that will provide fresh guidance and could move the stock depending on production, realized prices and capex commentary. ConocoPhillips to hold first-quarter earnings conference call on Thursday April 30
• Neutral Sentiment: Asset consolidation in Australia: ConocoPhillips’ Australian unit issued a buyout notice to acquire 3D Energi’s VIC/P79 stake in the Otway Basin — a tactical move that may simplify operations but has uncertain near-term value impact. 3D Energi says ConocoPhillips’ Australian unit seeks buy its stake in Otway Basin
• Negative Sentiment: Insider selling: A ConocoPhillips senior VP sold roughly $4.13M in stock, which can be perceived negatively by some investors even if part of routine diversification. ConocoPhillips (NYSE:COP) SVP Sells $4,128,960.00 in Stock

Insiders Place Their Bets

In other ConocoPhillips news, SVP Heather G. Hrap sold 2,654 shares of ConocoPhillips stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $119.68, for a total transaction of $317,630.72. Following the transaction, the senior vice president directly owned 5,663 shares in the company, valued at approximately $677,747.84. The trade was a 31.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Timothy A. Leach sold 40,000 shares of the business’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $118.79, for a total value of $4,751,600.00. Following the completion of the transaction, the director directly owned 411,211 shares of the company’s stock, valued at approximately $48,847,754.69. The trade was a 8.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 100,176 shares of company stock worth $11,934,877 over the last 90 days. 0.24% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on COP. Wells Fargo & Company upped their target price on shares of ConocoPhillips from $132.00 to $133.00 and gave the stock an “overweight” rating in a report on Friday, February 6th. Weiss Ratings restated a “hold (c-)” rating on shares of ConocoPhillips in a research report on Monday, December 29th. Raymond James Financial upped their price objective on shares of ConocoPhillips from $113.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 11th. Jefferies Financial Group raised their price objective on shares of ConocoPhillips from $120.00 to $129.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. Finally, JPMorgan Chase & Co. lifted their target price on shares of ConocoPhillips from $98.00 to $103.00 and gave the company a “neutral” rating in a research note on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $120.38.

ConocoPhillips Company 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.