Kaufman Rossin Wealth LLC Takes $435,000 Position in ConocoPhillips $COP

Kaufman Rossin Wealth LLC acquired a new position in ConocoPhillips (NYSE:COP) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 4,143 shares of the energy producer’s stock, valued at approximately $435,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. 10Elms LLP acquired a new stake in shares of ConocoPhillips during the 4th quarter worth about $28,000. Financial Network Wealth Advisors LLC boosted its stake in ConocoPhillips by 341.5% during the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock worth $30,000 after buying an additional 222 shares during the period. Stone House Investment Management LLC acquired a new stake in shares of ConocoPhillips during the first quarter valued at about $31,000. Garde Capital Inc. acquired a new stake in shares of ConocoPhillips during the first quarter valued at about $35,000. Finally, IMA Advisory Services Inc. purchased a new stake in shares of ConocoPhillips in the 1st quarter valued at approximately $37,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Buying and Selling at ConocoPhillips

In other news, EVP Kirk L. Johnson bought 5,300 shares of ConocoPhillips stock in a transaction that occurred on Monday, June 16th. The shares were purchased at an average price of $94.24 per share, with a total value of $499,472.00. Following the completion of the acquisition, the executive vice president directly owned 14,527 shares in the company, valued at $1,369,024.48. The trade was a 57.44% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.24% of the company’s stock.

ConocoPhillips Stock Performance

NYSE:COP opened at $94.8410 on Thursday. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $116.08. The company has a fifty day simple moving average of $93.81 and a two-hundred day simple moving average of $93.33. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. The company has a market cap of $118.45 billion, a price-to-earnings ratio of 12.73, a price-to-earnings-growth ratio of 2.46 and a beta of 0.67.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The business had revenue of $14.94 billion for the quarter, compared to analysts’ expectations of $14.39 billion. During the same period last year, the firm earned $1.98 earnings per share. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, equities analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.3%. ConocoPhillips’s payout ratio is currently 41.88%.

Analyst Ratings Changes

A number of research firms recently weighed in on COP. Bank of America lowered their price objective on shares of ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating for the company in a research report on Friday, May 23rd. Susquehanna decreased their price target on ConocoPhillips from $114.00 to $113.00 and set a “positive” rating on the stock in a research note on Wednesday, July 23rd. Melius Research started coverage on ConocoPhillips in a research note on Wednesday. They issued a “hold” rating and a $117.00 price objective for the company. Wells Fargo & Company reiterated an “overweight” rating and issued a $117.00 price objective (up previously from $113.00) on shares of ConocoPhillips in a report on Thursday, June 26th. Finally, Melius assumed coverage on ConocoPhillips in a research note on Wednesday. They set a “hold” rating and a $117.00 target price on the stock. Sixteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $120.95.

About ConocoPhillips

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.