HM Payson & Co. Purchases 9,948 Shares of ConocoPhillips $COP

HM Payson & Co. boosted its holdings in shares of ConocoPhillips (NYSE:COP) by 37.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,657 shares of the energy producer’s stock after acquiring an additional 9,948 shares during the period. HM Payson & Co.’s holdings in ConocoPhillips were worth $3,467,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Howard Hughes Medical Institute bought a new stake in ConocoPhillips during the 2nd quarter worth approximately $25,000. Bogart Wealth LLC increased its position in shares of ConocoPhillips by 136.8% during the second quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock worth $28,000 after acquiring an additional 182 shares in the last quarter. Activest Wealth Management raised its holdings in shares of ConocoPhillips by 249.5% during the second quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock worth $29,000 after acquiring an additional 232 shares during the period. BNP Paribas acquired a new stake in shares of ConocoPhillips during the second quarter worth $33,000. Finally, Nemes Rush Group LLC lifted its position in ConocoPhillips by 38.7% in the 2nd quarter. Nemes Rush Group LLC now owns 419 shares of the energy producer’s stock valued at $38,000 after acquiring an additional 117 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

COP has been the subject of several recent research reports. Wall Street Zen raised ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Susquehanna reduced their price target on ConocoPhillips to $113.00 and set a “positive” rating for the company in a research report on Monday, October 20th. Raymond James Financial lowered their price objective on shares of ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating on the stock in a report on Monday, September 8th. Barclays cut their price objective on shares of ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 7th. Finally, Mizuho lifted their price target on shares of ConocoPhillips from $120.00 to $121.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. Nineteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and an average price target of $114.08.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, CEO Ryan Michael Lance sold 500,708 shares of ConocoPhillips stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $92.50, for a total value of $46,315,490.00. Following the completion of the sale, the chief executive officer owned 325,972 shares in the company, valued at $30,152,410. The trade was a 60.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William H. Mcraven bought 5,768 shares of the firm’s stock in a transaction on Monday, November 10th. The shares were acquired at an average price of $86.68 per share, for a total transaction of $499,970.24. Following the transaction, the director owned 5,768 shares in the company, valued at approximately $499,970.24. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.24% of the stock is owned by company insiders.

ConocoPhillips Price Performance

NYSE:COP opened at $91.53 on Monday. The stock has a market capitalization of $113.10 billion, a PE ratio of 12.95, a P/E/G ratio of 2.07 and a beta of 0.32. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $106.20. The firm has a fifty day simple moving average of $90.05 and a 200 day simple moving average of $92.52. The company has a current ratio of 1.32, a quick ratio of 1.18 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, November 6th. The energy producer reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.20. The firm had revenue of $15.03 billion during the quarter, compared to analysts’ expectations of $14.51 billion. ConocoPhillips had a net margin of 14.25% and a return on equity of 13.64%. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.78 earnings per share. On average, research analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, November 17th were paid a $0.84 dividend. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.78. The ex-dividend date was Monday, November 17th. This represents a $3.36 dividend on an annualized basis and a yield of 3.7%. ConocoPhillips’s dividend payout ratio (DPR) is currently 47.52%.

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.