ConocoPhillips (COP) Position Trimmed by STA Wealth Management LLC
STA Wealth Management LLC lowered its position in ConocoPhillips (NYSE:COP) by 31.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 19,305 shares of the energy producer’s stock after selling 8,909 shares during the period. ConocoPhillips comprises approximately 0.4% of STA Wealth Management LLC’s holdings, making the stock its 28th largest position. STA Wealth Management LLC’s holdings in ConocoPhillips were worth $1,145,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the stock. Amundi Pioneer Asset Management Inc. boosted its holdings in ConocoPhillips by 18.9% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 772,426 shares of the energy producer’s stock worth $45,797,000 after buying an additional 122,925 shares during the period. Point72 Asia Hong Kong Ltd lifted its stake in ConocoPhillips by 86.0% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 4,213 shares of the energy producer’s stock worth $250,000 after purchasing an additional 1,948 shares in the last quarter. Mariner LLC lifted its stake in ConocoPhillips by 6.2% in the 1st quarter. Mariner LLC now owns 48,952 shares of the energy producer’s stock worth $2,902,000 after purchasing an additional 2,844 shares in the last quarter. LPL Financial LLC lifted its stake in ConocoPhillips by 3.1% in the 1st quarter. LPL Financial LLC now owns 310,866 shares of the energy producer’s stock worth $18,431,000 after purchasing an additional 9,411 shares in the last quarter. Finally, HCR Wealth Advisors lifted its stake in ConocoPhillips by 5.6% in the 1st quarter. HCR Wealth Advisors now owns 31,847 shares of the energy producer’s stock worth $1,888,000 after purchasing an additional 1,700 shares in the last quarter. 71.08% of the stock is owned by institutional investors.
Shares of ConocoPhillips opened at $69.62 on Thursday, according to Marketbeat.com. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.71 and a current ratio of 1.86. The stock has a market cap of $82.48 billion, a PE ratio of 116.03, a price-to-earnings-growth ratio of 2.09 and a beta of 1.22. ConocoPhillips has a 12-month low of $42.26 and a 12-month high of $71.71.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 1st. Stockholders of record on Monday, May 14th were given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 1.64%. The ex-dividend date was Friday, May 11th. ConocoPhillips’s dividend payout ratio is 190.00%.
In related news, SVP Andrew D. Lundquist sold 25,000 shares of the stock in a transaction dated Thursday, March 29th. The shares were sold at an average price of $58.96, for a total value of $1,474,000.00. Following the sale, the senior vice president now directly owns 27,353 shares of the company’s stock, valued at approximately $1,612,732.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Glenda Mae Schwarz sold 6,763 shares of the stock in a transaction dated Friday, May 25th. The stock was sold at an average price of $65.04, for a total transaction of $439,865.52. Following the completion of the sale, the vice president now directly owns 10,182 shares in the company, valued at $662,237.28. The disclosure for this sale can be found here. Insiders have sold a total of 309,052 shares of company stock worth $20,965,534 over the last 90 days. Corporate insiders own 0.88% of the company’s stock.
Several analysts have commented on COP shares. Zacks Investment Research upgraded shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating and set a $61.00 price target on the stock in a research note on Wednesday, February 14th. Argus decreased their price target on shares of ConocoPhillips from $65.00 to $54.54 and set a “buy” rating on the stock in a research note on Friday, February 16th. Barclays set a $71.00 price target on shares of ConocoPhillips and gave the stock a “buy” rating in a research note on Sunday, March 4th. UBS Group started coverage on shares of ConocoPhillips in a research note on Wednesday, March 7th. They issued a “buy” rating and a $60.00 price target on the stock. Finally, JPMorgan Chase & Co. boosted their price target on shares of ConocoPhillips from $62.00 to $64.00 and gave the stock an “overweight” rating in a research note on Monday, April 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $66.90.
ConocoPhillips Company Profile
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. Its portfolio includes North American tight oil and oil sands assets in Canada; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; and an inventory of conventional and unconventional exploration prospects.
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