Larry Mathis Financial Planning LLC bought a new stake in ConocoPhillips (NYSE:COP – Free Report) during the fourth quarter, Holdings Channel.com reports. The fund bought 5,022 shares of the energy producer’s stock, valued at approximately $470,000.
Other institutional investors also recently added to or reduced their stakes in the company. Capital International Investors lifted its holdings in shares of ConocoPhillips by 18.2% during the third quarter. Capital International Investors now owns 45,645,397 shares of the energy producer’s stock worth $4,318,239,000 after buying an additional 7,037,873 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of ConocoPhillips by 229.2% in the fourth quarter. AQR Capital Management LLC now owns 3,595,177 shares of the energy producer’s stock worth $336,544,000 after acquiring an additional 2,503,156 shares during the last quarter. Primecap Management Co. CA grew its stake in shares of ConocoPhillips by 31.3% in the third quarter. Primecap Management Co. CA now owns 10,351,010 shares of the energy producer’s stock worth $979,102,000 after acquiring an additional 2,467,555 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in ConocoPhillips by 6.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 41,450,162 shares of the energy producer’s stock worth $3,880,151,000 after acquiring an additional 2,350,645 shares during the period. Finally, Ameriprise Financial Inc. increased its position in ConocoPhillips by 20.6% during the third quarter. Ameriprise Financial Inc. now owns 12,994,674 shares of the energy producer’s stock worth $1,228,886,000 after acquiring an additional 2,216,010 shares during the period. 82.36% of the stock is owned by institutional investors.
ConocoPhillips Stock Performance
Shares of NYSE COP opened at $107.92 on Friday. The firm has a market capitalization of $131.48 billion, a price-to-earnings ratio of 18.32, a PEG ratio of 1.19 and a beta of 0.11. ConocoPhillips has a one year low of $85.57 and a one year high of $135.87. The business has a fifty day simple moving average of $118.65 and a 200 day simple moving average of $111.25. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34.
ConocoPhillips Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Monday, May 11th. ConocoPhillips’s payout ratio is 57.05%.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on COP. Argus increased their price target on shares of ConocoPhillips from $128.00 to $136.00 and gave the company a “buy” rating in a report on Friday, May 15th. Jefferies Financial Group boosted their price objective on shares of ConocoPhillips from $160.00 to $161.00 and gave the stock a “buy” rating in a report on Monday, May 18th. Raymond James Financial cut their price objective on shares of ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating for the company in a research report on Monday, June 1st. Scotiabank upped their price objective on shares of ConocoPhillips from $100.00 to $125.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Finally, Mizuho increased their target price on shares of ConocoPhillips from $136.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Seventeen analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and a consensus price target of $134.48.
Get Our Latest Analysis on COP
Insider Activity at ConocoPhillips
In other ConocoPhillips news, CEO Ryan Michael Lance sold 113,221 shares of the firm’s stock in a transaction dated Tuesday, March 31st. The shares were 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 owned 350,000 shares in the company, valued at $46,448,500. This trade represents a 24.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 sale, the executive vice president directly owned 5,395 shares in the company, valued at $685,488.70. The trade was a 56.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 127,915 shares of company stock valued at $16,915,448 over the last quarter. 0.09% of the stock is owned by company insiders.
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.
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