Pacific Heights Asset Management LLC Has $19.86 Million Stock Position in ConocoPhillips $COP

Pacific Heights Asset Management LLC boosted its stake in ConocoPhillips (NYSE:COP) by 5.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 210,000 shares of the energy producer’s stock after acquiring an additional 10,000 shares during the period. Pacific Heights Asset Management LLC’s holdings in ConocoPhillips were worth $19,864,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BCM Advisors LLC lifted its position in shares of ConocoPhillips by 0.5% in the 3rd quarter. BCM Advisors LLC now owns 21,967 shares of the energy producer’s stock worth $1,907,000 after purchasing an additional 119 shares during the period. Arkadios Wealth Advisors raised its stake in ConocoPhillips by 19.0% during the third quarter. Arkadios Wealth Advisors now owns 49,138 shares of the energy producer’s stock worth $4,648,000 after buying an additional 7,859 shares during the last quarter. Turtle Creek Wealth Advisors LLC raised its stake in ConocoPhillips by 17.6% during the third quarter. Turtle Creek Wealth Advisors LLC now owns 17,058 shares of the energy producer’s stock worth $1,614,000 after buying an additional 2,556 shares during the last quarter. Tradewinds LLC. acquired a new position in ConocoPhillips in the third quarter valued at $310,000. Finally, Allstate Corp boosted its position in ConocoPhillips by 1,461.5% during the third quarter. Allstate Corp now owns 46,595 shares of the energy producer’s stock valued at $4,407,000 after acquiring an additional 43,611 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on COP shares. The Goldman Sachs Group lowered their price objective on ConocoPhillips from $111.00 to $108.00 and set a “buy” rating for the company in a research report on Friday, October 17th. Susquehanna decreased their target price on ConocoPhillips to $113.00 and set a “positive” rating for the company in a research note on Monday, October 20th. Roth Capital lowered their target price on ConocoPhillips from $108.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, October 15th. Sanford C. Bernstein cut their price target on ConocoPhillips from $116.00 to $98.00 and set an “outperform” rating on the stock in a report on Monday, January 5th. Finally, Wall Street Zen raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Seventeen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus target price of $110.83.

Insider Buying and Selling at ConocoPhillips

In other news, CEO Ryan Michael Lance sold 500,708 shares of the business’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $92.50, for a total transaction of $46,315,490.00. Following the completion of the sale, the chief executive officer directly owned 325,972 shares of the company’s stock, valued at $30,152,410. The trade was a 60.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William H. Mcraven bought 5,768 shares of the stock in a transaction that occurred on Monday, November 10th. The stock was acquired at an average price of $86.68 per share, for a total transaction of $499,970.24. Following the acquisition, the director directly owned 5,768 shares in the company, valued at $499,970.24. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 0.24% of the company’s stock.

ConocoPhillips Stock Down 0.8%

COP stock opened at $98.18 on Tuesday. The stock’s 50 day simple moving average is $92.85 and its 200 day simple moving average is $92.93. The company has a market cap of $121.32 billion, a P/E ratio of 13.89, a price-to-earnings-growth ratio of 2.69 and a beta of 0.32. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.18 and a current ratio of 1.32. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $106.20.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, November 6th. The energy producer reported $1.61 EPS for the quarter, beating the consensus estimate of $1.41 by $0.20. ConocoPhillips had a return on equity of 13.64% and a net margin of 14.25%.The firm had revenue of $15.03 billion during the quarter, compared to the consensus estimate of $14.51 billion. During the same quarter in the previous year, the company posted $1.78 earnings per share. The company’s quarterly revenue was up 14.1% on a year-over-year basis. On average, research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 17th were paid a dividend of $0.84 per share. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.78. The ex-dividend date was Monday, November 17th. This represents a $3.36 dividend on an annualized basis and a yield of 3.4%. ConocoPhillips’s dividend payout ratio (DPR) is presently 47.52%.

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.