Trueblood Wealth Management LLC Makes New $293,000 Investment in ConocoPhillips (NYSE:COP)

Trueblood Wealth Management LLC bought a new position in ConocoPhillips (NYSE:COP) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 2,523 shares of the energy producer’s stock, valued at approximately $293,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Bayesian Capital Management LP purchased a new position in shares of ConocoPhillips during the 2nd quarter valued at $5,592,000. Guidance Capital Inc. bought a new position in shares of ConocoPhillips in the second quarter worth approximately $599,000. Bollard Group LLC lifted its position in ConocoPhillips by 1.0% during the second quarter. Bollard Group LLC now owns 130,043 shares of the energy producer’s stock valued at $13,474,000 after purchasing an additional 1,233 shares during the last quarter. Capital Investment Counsel Inc bought a new position in shares of ConocoPhillips in the 3rd quarter worth $228,000. Finally, Columbia Trust Co 01012016 lifted its holdings in shares of ConocoPhillips by 1.2% during the 4th quarter. Columbia Trust Co 01012016 now owns 9,463 shares of the energy producer’s stock worth $1,098,000 after acquiring an additional 112 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock traded up $0.44 during trading hours on Thursday, reaching $127.28. 4,629,623 shares of the stock traded hands, compared to its average volume of 5,775,233. The company has a 50 day moving average price of $113.87 and a 200 day moving average price of $116.08. The company has a quick ratio of 1.29, a current ratio of 1.43 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $149.73 billion, a price-to-earnings ratio of 14.08, a P/E/G ratio of 2.87 and a beta of 1.23. ConocoPhillips has a one year low of $95.70 and a one year high of $128.64.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.32. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. The business had revenue of $15.31 billion for the quarter, compared to analysts’ expectations of $14.47 billion. During the same quarter last year, the company posted $2.71 EPS. On average, equities research analysts expect that ConocoPhillips will post 8.79 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were given a $0.78 dividend. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend was Thursday, February 15th. ConocoPhillips’s dividend payout ratio is presently 25.61%.

Insider Activity

In other ConocoPhillips news, CEO Ryan Michael Lance sold 607,000 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $125.91, for a total value of $76,427,370.00. Following the sale, the chief executive officer now owns 6,780 shares in the company, valued at approximately $853,669.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, VP Christopher P. Delk sold 8,505 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total transaction of $953,070.30. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Ryan Michael Lance sold 607,000 shares of ConocoPhillips stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the transaction, the chief executive officer now directly owns 6,780 shares in the company, valued at $853,669.80. The disclosure for this sale can be found here. Insiders have sold 700,775 shares of company stock worth $87,615,169 over the last ninety days. Corporate insiders own 0.37% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on COP. Raymond James dropped their price target on ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. Scotiabank upped their price objective on shares of ConocoPhillips from $115.00 to $120.00 and gave the company a “sector perform” rating in a research note on Friday, February 9th. Mizuho reissued a “neutral” rating and issued a $139.00 price target (up from $132.00) on shares of ConocoPhillips in a research note on Friday, March 22nd. Susquehanna lowered their target price on ConocoPhillips from $152.00 to $133.00 and set a “positive” rating for the company in a research note on Friday, January 26th. Finally, Morgan Stanley lifted their price target on ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a research note on Thursday. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $135.35.

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, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.