WealthPoint Financial LLC Buys Shares of 5,975 ConocoPhillips $COP

WealthPoint Financial LLC bought a new position in shares of ConocoPhillips (NYSE:COP) during the fourth quarter, HoldingsChannel.com reports. The firm bought 5,975 shares of the energy producer’s stock, valued at approximately $559,000.

Several other institutional investors also recently modified their holdings of the stock. Van Diest Capital LLC bought a new position in ConocoPhillips during the 4th quarter worth approximately $225,000. TMB Capital Partners LLC bought a new stake in ConocoPhillips in the fourth quarter valued at approximately $261,000. Invesco Ltd. raised its holdings in ConocoPhillips by 2.2% in the fourth quarter. Invesco Ltd. now owns 13,413,036 shares of the energy producer’s stock worth $1,255,594,000 after purchasing an additional 290,888 shares during the period. Evansbrook LLC acquired a new stake in ConocoPhillips in the fourth quarter worth $552,000. Finally, Axxcess Wealth Management LLC boosted its position in shares of ConocoPhillips by 6.3% during the fourth quarter. Axxcess Wealth Management LLC now owns 47,345 shares of the energy producer’s stock worth $4,432,000 after purchasing an additional 2,786 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. UBS Group boosted their price target on shares of ConocoPhillips from $130.00 to $144.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Barclays lifted their target price on ConocoPhillips from $136.00 to $155.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Wall Street Zen raised ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Weiss Ratings restated a “hold (c)” rating on shares of ConocoPhillips in a report on Wednesday, June 3rd. Finally, Capital One Financial lowered their price target on ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating for the company in a report on Monday, May 18th. Seventeen equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $134.48.

Insider Activity

In related news, CEO Ryan Michael Lance sold 113,221 shares of the stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $132.71, for a total transaction of $15,025,558.91. Following the completion of the transaction, the chief executive officer directly owned 350,000 shares in the company, valued at approximately $46,448,500. This trade represents a 24.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nicholas G. Olds sold 6,994 shares of ConocoPhillips stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $127.06, for a total value of $888,657.64. Following the completion of the sale, the executive vice president directly owned 5,395 shares in the company, valued at approximately $685,488.70. This represents a 56.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 127,915 shares of company stock worth $16,915,448 over the last three months. Corporate insiders own 0.09% of the company’s stock.

Trending Headlines about ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips is advancing new upstream opportunities, including a reported gas development agreement in Syria and participation in offshore Block 3 exploration with TotalEnergies, QatarEnergy, and the Syrian Petroleum Company, which could add longer-term growth potential. ConocoPhillips (COP) Joins TotalEnergies And QatarEnergy For Mediterranean Block 3 Exploration
• Positive Sentiment: Analyst coverage remains constructive, with Morgan Stanley maintaining an Overweight rating and recent price targets generally above the current share price, suggesting Wall Street still sees upside. ConocoPhillips (COP) Stock Slides as Market Rises: Facts to Know Before You Trade
• Neutral Sentiment: Reports suggest ConocoPhillips remains focused on upstream production, reinforcing its core strategy, but this is not a near-term stock-moving catalyst by itself. ConocoPhillips Keeps Focus On Upstream Production
• Neutral Sentiment: Market commentary notes COP has been trading below some fair-value estimates after its recent decline, which may interest value investors but does not change the macro pressure on energy shares. A Look at ConocoPhillips (COP) After 3.1% Decline — GF Value $109.98 vs Price $107.74
• Negative Sentiment: Oil prices have fallen, and sector-wide weakness is dragging ConocoPhillips lower despite no major company-specific negative announcement, limiting near-term sentiment for the stock. ConocoPhillips Slides as Crude Prices Retreat and No New Company-Specific Catalyst Emerges

ConocoPhillips Stock Down 3.0%

Shares of COP stock opened at $107.92 on Friday. ConocoPhillips has a 12-month low of $85.57 and a 12-month high of $135.87. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34. The firm has a fifty day moving average of $118.99 and a 200-day moving average of $111.27. The company has a market capitalization of $131.48 billion, a price-to-earnings ratio of 18.32, a P/E/G ratio of 1.23 and a beta of 0.11.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, beating the consensus estimate of $1.72 by $0.17. The business had revenue of $15.76 billion for the quarter, compared to analysts’ expectations of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The firm’s revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.09 EPS. As a group, equities research analysts predict that ConocoPhillips will post 10.03 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 11th were paid a $0.84 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $3.36 annualized dividend and a dividend yield of 3.1%. ConocoPhillips’s dividend payout ratio (DPR) is currently 57.05%.

ConocoPhillips Profile

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.