Atria Wealth Solutions Inc. Raises Stake in ConocoPhillips (NYSE:COP)

Atria Wealth Solutions Inc. lifted its position in shares of ConocoPhillips (NYSE:COP) by 5.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 60,910 shares of the energy producer’s stock after purchasing an additional 3,240 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in ConocoPhillips were worth $7,070,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of COP. Orion Capital Management LLC acquired a new stake in shares of ConocoPhillips during the 3rd quarter valued at approximately $27,000. West Branch Capital LLC increased its position in ConocoPhillips by 87.8% in the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock worth $27,000 after buying an additional 108 shares during the period. Oliver Lagore Vanvalin Investment Group increased its position in ConocoPhillips by 63.1% in the third quarter. Oliver Lagore Vanvalin Investment Group now owns 287 shares of the energy producer’s stock worth $34,000 after buying an additional 111 shares during the period. Spartan Planning & Wealth Management acquired a new stake in ConocoPhillips in the third quarter worth $40,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in ConocoPhillips in the third quarter worth $44,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Down 0.6 %

Shares of NYSE:COP traded down $0.83 during midday trading on Friday, reaching $129.28. The company had a trading volume of 296,880 shares, compared to its average volume of 5,291,562. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.29 and a current ratio of 1.43. ConocoPhillips has a 1-year low of $95.70 and a 1-year high of $135.18. The firm has a market cap of $152.09 billion, a price-to-earnings ratio of 14.36, a price-to-earnings-growth ratio of 2.70 and a beta of 1.24. The company has a fifty day simple moving average of $122.10 and a two-hundred day simple moving average of $117.58.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.32. The firm had revenue of $15.31 billion during the quarter, compared to the consensus estimate of $14.47 billion. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. During the same period in the prior year, the business earned $2.71 EPS. Research analysts predict that ConocoPhillips will post 9.57 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were issued a $0.78 dividend. The ex-dividend date was Thursday, February 15th. This represents a $3.12 dividend on an annualized basis and a yield of 2.41%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is 25.61%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Morgan Stanley increased their price target on ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Raymond James decreased 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. Wells Fargo & Company increased their price target on ConocoPhillips from $141.00 to $149.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 10th. Mizuho reissued a “neutral” rating and issued a $139.00 price target (up previously from $132.00) on shares of ConocoPhillips in a research note on Friday, March 22nd. Finally, Barclays started coverage on ConocoPhillips in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $158.00 price target for the company. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $143.24.

Insider Buying and Selling at ConocoPhillips

In other news, CEO Ryan Michael Lance sold 607,000 shares of ConocoPhillips stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the sale, the chief executive officer now owns 6,780 shares of the company’s stock, valued at approximately $853,669.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Nicholas G. Olds sold 12,150 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the completion of the transaction, the executive vice president now owns 14,522 shares in the company, valued at approximately $1,836,161.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan Michael Lance sold 607,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $125.91, for a total value of $76,427,370.00. Following the transaction, the chief executive officer now owns 6,780 shares of the company’s stock, valued at approximately $853,669.80. The disclosure for this sale can be found here. Insiders have sold 700,775 shares of company stock valued at $87,615,169 in the last 90 days. 0.34% of the stock is currently owned by insiders.

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.