ConocoPhillips (NYSE:COP) Shares Bought by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE increased its holdings in ConocoPhillips (NYSE:COPFree Report) by 2.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 136,383 shares of the energy producer’s stock after buying an additional 3,277 shares during the quarter. Congress Wealth Management LLC DE’s holdings in ConocoPhillips were worth $15,830,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of COP. WealthPlan Investment Management LLC purchased a new position in ConocoPhillips in the 3rd quarter valued at $441,000. Bahl & Gaynor Inc. lifted its holdings in ConocoPhillips by 27.8% in the 3rd quarter. Bahl & Gaynor Inc. now owns 3,649 shares of the energy producer’s stock valued at $437,000 after purchasing an additional 794 shares in the last quarter. LSV Asset Management lifted its holdings in ConocoPhillips by 167.2% in the 3rd quarter. LSV Asset Management now owns 419,410 shares of the energy producer’s stock valued at $50,245,000 after purchasing an additional 262,450 shares in the last quarter. NBC Securities Inc. acquired a new stake in shares of ConocoPhillips in the 3rd quarter worth $1,423,000. Finally, Pinnacle Financial Partners Inc increased its stake in shares of ConocoPhillips by 3.1% in the 3rd quarter. Pinnacle Financial Partners Inc now owns 19,165 shares of the energy producer’s stock worth $2,296,000 after acquiring an additional 578 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Down 0.3 %

ConocoPhillips stock traded down $0.40 during trading on Friday, hitting $117.25. The company’s stock had a trading volume of 2,851,101 shares, compared to its average volume of 5,260,977. The stock has a market capitalization of $137.13 billion, a price-to-earnings ratio of 13.32, a P/E/G ratio of 2.60 and a beta of 1.25. The stock’s fifty day moving average is $125.98 and its 200 day moving average is $117.74. ConocoPhillips has a 1-year low of $98.38 and a 1-year high of $135.18. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.21 and a current ratio of 1.35.

ConocoPhillips (NYSE:COPGet Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The energy producer reported $2.03 EPS for the quarter, topping the consensus estimate of $1.99 by $0.04. The company had revenue of $14.48 billion during the quarter, compared to analyst estimates of $14.72 billion. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. As a group, equities research analysts predict that ConocoPhillips will post 9.09 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 13th will be paid a $0.78 dividend. The ex-dividend date of this dividend is Friday, May 10th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.66%. ConocoPhillips’s dividend payout ratio (DPR) is currently 26.27%.

Insider Activity

In other news, CEO Ryan Michael Lance sold 607,000 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 6,780 shares in the company, valued at $853,669.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CFO William L. Jr. Bullock sold 45,200 shares of the stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $123.32, for a total value of $5,574,064.00. Following the completion of the transaction, the chief financial officer now owns 44,153 shares of the company’s stock, valued at $5,444,947.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Michael Lance sold 607,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 6,780 shares of the company’s stock, valued at approximately $853,669.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 664,350 shares of company stock worth $83,537,680. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

COP has been the subject of a number of recent research reports. UBS Group raised their target price on ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Royal Bank of Canada raised their price objective on ConocoPhillips from $135.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 15th. Scotiabank raised their price objective on ConocoPhillips from $120.00 to $135.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 11th. Barclays started coverage on ConocoPhillips in a research report on Wednesday, April 10th. They set an “overweight” rating and a $158.00 price objective for the company. Finally, Morgan Stanley raised their price objective on ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Five 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 company’s stock. According to MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and a consensus target price of $143.24.

Check Out Our Latest Stock Report on ConocoPhillips

About ConocoPhillips

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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