AE Wealth Management LLC grew its holdings in ConocoPhillips (NYSE:COP – Get Rating) by 6.8% during the first quarter, HoldingsChannel reports. The fund owned 60,699 shares of the energy producer’s stock after purchasing an additional 3,856 shares during the period. AE Wealth Management LLC’s holdings in ConocoPhillips were worth $6,070,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of the business. Diversified Investment Strategies LLC acquired a new position in ConocoPhillips during the first quarter worth $204,000. Wealth Enhancement Advisory Services LLC boosted its holdings in ConocoPhillips by 2.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 93,525 shares of the energy producer’s stock worth $9,403,000 after buying an additional 1,823 shares in the last quarter. PDS Planning Inc increased its holdings in ConocoPhillips by 2.2% in the first quarter. PDS Planning Inc now owns 8,491 shares of the energy producer’s stock valued at $849,000 after buying an additional 183 shares in the last quarter. Cerro Pacific Wealth Advisors LLC boosted its stake in shares of ConocoPhillips by 6.7% during the 1st quarter. Cerro Pacific Wealth Advisors LLC now owns 3,472 shares of the energy producer’s stock worth $347,000 after acquiring an additional 219 shares in the last quarter. Finally, Hurlow Wealth Management Group Inc. purchased a new position in ConocoPhillips in the 1st quarter valued at approximately $273,000. 78.80% of the stock is owned by institutional investors.
A number of research analysts have recently commented on COP shares. Scotiabank raised shares of ConocoPhillips from a “sector performer” rating to an “outperform” rating and boosted their target price for the stock from $110.00 to $115.00 in a research report on Monday, April 18th. Trust Financial raised their price target on shares of ConocoPhillips from $115.00 to $130.00 in a research note on Thursday, April 21st. Morgan Stanley decreased their objective price on ConocoPhillips from $120.00 to $118.00 and set an “overweight” rating for the company in a report on Monday, June 6th. Societe Generale boosted their price target on ConocoPhillips to $127.00 in a research report on Thursday, June 9th. Finally, StockNews.com raised ConocoPhillips from a “hold” rating to a “buy” rating in a report on Saturday, May 14th. Three 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. According to MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus target price of $112.76.
Shares of NYSE:COP opened at $89.81 on Friday. The company has a market capitalization of $116.16 billion, a PE ratio of 9.26, a price-to-earnings-growth ratio of 0.32 and a beta of 1.34. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.41 and a current ratio of 1.51. The stock has a fifty day moving average of $103.81 and a 200-day moving average of $94.96. ConocoPhillips has a one year low of $51.41 and a one year high of $124.08.
ConocoPhillips (NYSE:COP – Get Rating) last issued its quarterly earnings results on Thursday, May 5th. The energy producer reported $3.27 earnings per share for the quarter, topping analysts’ consensus estimates of $3.24 by $0.03. The firm had revenue of $19.29 billion for the quarter, compared to analysts’ expectations of $18.36 billion. ConocoPhillips had a return on equity of 24.89% and a net margin of 22.52%. ConocoPhillips’s revenue was up 82.7% on a year-over-year basis. During the same quarter last year, the business posted $0.69 EPS. As a group, research analysts forecast that ConocoPhillips will post 15 EPS for the current fiscal year.
The firm also recently disclosed a dividend, which will be paid on Friday, July 15th. Investors of record on Tuesday, June 28th will be paid a $0.70 dividend. This is an increase from ConocoPhillips’s previous dividend of $0.30. This represents a yield of 3.21%. The ex-dividend date is Monday, June 27th. ConocoPhillips’s dividend payout ratio is currently 18.97%.
In related news, CEO Ryan Michael Lance sold 584,900 shares of the stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $121.21, for a total transaction of $70,895,729.00. Following the completion of the sale, the chief executive officer now directly owns 44,522 shares in the company, valued at $5,396,511.62. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Nicholas G. Olds sold 19,200 shares of the business’s stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $110.51, for a total value of $2,121,792.00. The disclosure for this sale can be found here. Insiders have sold a total of 644,703 shares of company stock valued at $77,172,426 over the last 90 days. Corporate insiders own 0.40% of the company’s stock.
ConocoPhillips Company Profile (Get Rating)
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. 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 conventional and unconventional exploration prospects.
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