Wick Capital Partners LLC Buys New Stake in ConocoPhillips $COP

Wick Capital Partners LLC purchased a new stake in ConocoPhillips (NYSE:COP) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 6,159 shares of the energy producer’s stock, valued at approximately $577,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AXA S.A. boosted its stake in shares of ConocoPhillips by 91.1% in the second quarter. AXA S.A. now owns 84,937 shares of the energy producer’s stock worth $7,622,000 after buying an additional 40,499 shares during the last quarter. Sei Investments Co. grew its holdings in ConocoPhillips by 6.1% during the second quarter. Sei Investments Co. now owns 784,368 shares of the energy producer’s stock worth $70,397,000 after acquiring an additional 44,852 shares during the period. BNP Paribas purchased a new position in ConocoPhillips during the second quarter valued at approximately $33,000. Osterweis Capital Management Inc. purchased a new position in ConocoPhillips during the second quarter valued at approximately $151,000. Finally, Main Street Financial Solutions LLC lifted its holdings in ConocoPhillips by 53.5% in the second quarter. Main Street Financial Solutions LLC now owns 4,806 shares of the energy producer’s stock valued at $431,000 after acquiring an additional 1,675 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

COP has been the topic of several recent research reports. Jefferies Financial Group upped their price objective on ConocoPhillips from $160.00 to $161.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. Barclays lifted their target price on shares of ConocoPhillips from $136.00 to $155.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Raymond James Financial decreased their target price on shares of ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating for the company in a research note on Monday, June 1st. Sanford C. Bernstein increased their price target on shares of ConocoPhillips from $98.00 to $121.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. Finally, Royal Bank Of Canada raised their price target on shares of ConocoPhillips from $118.00 to $152.00 and gave the company an “outperform” rating in a research report on Wednesday, April 8th. Seventeen investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and an average target price of $134.48.

Insider Buying and Selling

In other ConocoPhillips news, EVP Nicholas G. Olds sold 6,994 shares of the company’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $127.06, for a total transaction of $888,657.64. Following the completion of the transaction, the executive vice president directly owned 5,395 shares in the company, valued at approximately $685,488.70. This represents a 56.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Kelly Brunetti Rose sold 7,700 shares of the stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $130.03, for a total transaction of $1,001,231.00. Following the transaction, the senior vice president directly owned 25,284 shares in the company, valued at approximately $3,287,678.52. The trade was a 23.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 127,915 shares of company stock valued at $16,915,448. 0.09% of the stock is owned by corporate insiders.

ConocoPhillips Stock Up 0.2%

Shares of COP opened at $107.92 on Friday. The firm has a market cap of $131.48 billion, a P/E ratio of 18.32, a PEG ratio of 1.19 and a beta of 0.11. ConocoPhillips has a 12 month low of $85.57 and a 12 month high of $135.87. The stock’s 50 day moving average is $118.65 and its two-hundred day moving average is $111.25. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.17. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The business had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. During the same period in the prior year, the company posted $2.09 EPS. The business’s quarterly revenue was down 6.1% on a year-over-year basis. Analysts predict that ConocoPhillips will post 10.03 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Monday, May 11th. ConocoPhillips’s payout ratio is presently 57.05%.

About ConocoPhillips

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.