Colonial River Wealth Management LLC Takes Position in ConocoPhillips (NYSE:COP)

Colonial River Wealth Management LLC purchased a new stake in shares of ConocoPhillips (NYSE:COPFree Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 2,038 shares of the energy producer’s stock, valued at approximately $237,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of COP. Moneta Group Investment Advisors LLC lifted its holdings in shares of ConocoPhillips by 98,832.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 8,584,373 shares of the energy producer’s stock valued at $1,012,956,000 after buying an additional 8,575,696 shares during the period. Morgan Stanley increased its stake in shares of ConocoPhillips by 26.6% in the 4th quarter. Morgan Stanley now owns 16,647,723 shares of the energy producer’s stock worth $1,964,432,000 after purchasing an additional 3,497,750 shares in the last quarter. Alphinity Investment Management Pty Ltd purchased a new stake in shares of ConocoPhillips in the 3rd quarter worth $310,102,000. Cowa LLC increased its stake in shares of ConocoPhillips by 6,475.2% in the 1st quarter. Cowa LLC now owns 2,375,224 shares of the energy producer’s stock worth $2,383,000 after purchasing an additional 2,339,100 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. purchased a new stake in shares of ConocoPhillips in the 4th quarter worth $186,330,000. 82.36% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other ConocoPhillips news, EVP Nicholas G. Olds sold 12,150 shares of ConocoPhillips stock in a transaction on Monday, March 25th. The shares were sold at an average price of $126.44, for a total value of $1,536,246.00. Following the transaction, the executive vice president now directly owns 14,522 shares of the company’s stock, valued at $1,836,161.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other ConocoPhillips news, EVP Nicholas G. Olds sold 12,150 shares of ConocoPhillips stock in a transaction on Monday, March 25th. The shares were sold at an average price of $126.44, for a total value of $1,536,246.00. Following the transaction, the executive vice president now directly owns 14,522 shares of the company’s stock, valued at $1,836,161.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Heather G. Hrap sold 4,548 shares of ConocoPhillips stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $110.55, for a total transaction of $502,781.40. Following the sale, the senior vice president now owns 2,654 shares of the company’s stock, valued at $293,399.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 700,775 shares of company stock valued at $87,615,169. 0.37% of the stock is currently owned by insiders.

ConocoPhillips Stock Performance

Shares of COP stock opened at $130.69 on Wednesday. The firm has a market cap of $153.74 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 2.92 and a beta of 1.24. The company’s 50 day moving average is $115.53 and its 200 day moving average is $116.20. The company has a quick ratio of 1.29, a current ratio of 1.43 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 52-week low of $95.70 and a 52-week high of $130.84.

ConocoPhillips (NYSE:COPGet Free Report) last issued its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.32. The company had revenue of $15.31 billion for the quarter, compared to analyst estimates of $14.47 billion. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. During the same period last year, the company posted $2.71 earnings per share. On average, sell-side analysts anticipate that ConocoPhillips will post 8.81 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were issued a $0.78 dividend. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend was Thursday, February 15th. ConocoPhillips’s payout ratio is currently 25.61%.

Analyst Ratings Changes

COP has been the subject of several analyst reports. UBS Group upped their price objective on ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Johnson Rice lowered ConocoPhillips from an “accumulate” rating to a “hold” rating in a research note on Thursday, December 14th. Scotiabank increased their price target on ConocoPhillips from $115.00 to $120.00 and gave the stock a “sector perform” rating in a research note on Friday, February 9th. JPMorgan Chase & Co. cut their price target on ConocoPhillips from $153.00 to $141.00 and set a “neutral” rating for the company in a research note on Friday, December 8th. Finally, Mizuho reiterated a “neutral” rating and issued a $139.00 price target (up previously from $132.00) on shares of ConocoPhillips in a research note on Friday, March 22nd. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and an average price target of $135.35.

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.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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