Slocum Gordon & Co LLP Acquires New Position in ConocoPhillips $COP

Slocum Gordon & Co LLP acquired a new stake in ConocoPhillips (NYSE:COP) in the third quarter, HoldingsChannel.com reports. The fund acquired 26,172 shares of the energy producer’s stock, valued at approximately $2,476,000. ConocoPhillips comprises about 2.0% of Slocum Gordon & Co LLP’s holdings, making the stock its 18th largest position.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. WPG Advisers LLC acquired a new position in ConocoPhillips during the first quarter worth $64,000. Vident Advisory LLC raised its holdings in shares of ConocoPhillips by 21.5% during the 1st quarter. Vident Advisory LLC now owns 46,051 shares of the energy producer’s stock worth $4,836,000 after acquiring an additional 8,152 shares during the period. DRW Securities LLC boosted its position in shares of ConocoPhillips by 8.2% during the 1st quarter. DRW Securities LLC now owns 5,599 shares of the energy producer’s stock valued at $587,000 after acquiring an additional 423 shares during the last quarter. Saudi Central Bank purchased a new stake in shares of ConocoPhillips in the first quarter valued at about $53,000. Finally, Retirement Planning Co of New England Inc. increased its position in ConocoPhillips by 6.7% during the first quarter. Retirement Planning Co of New England Inc. now owns 2,354 shares of the energy producer’s stock worth $247,000 after purchasing an additional 148 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on COP shares. Barclays dropped their price target on shares of ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating for the company in a research note on Tuesday, October 7th. Wolfe Research reiterated an “outperform” rating and issued a $131.00 price objective on shares of ConocoPhillips in a research note on Thursday, November 6th. Jefferies Financial Group reiterated a “buy” rating on shares of ConocoPhillips in a research note on Monday, December 15th. Weiss Ratings restated a “hold (c-)” rating on shares of ConocoPhillips in a research note on Monday, December 22nd. Finally, BMO Capital Markets decreased their price objective on ConocoPhillips from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, December 15th. Nineteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and an average price target of $114.08.

Insiders Place Their Bets

In other news, Director William H. Mcraven purchased 5,768 shares of the stock in a transaction dated Monday, November 10th. The stock was acquired at an average price of $86.68 per share, for a total transaction of $499,970.24. Following the completion of the transaction, the director owned 5,768 shares of the company’s stock, valued at approximately $499,970.24. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Michael Lance sold 500,708 shares of the firm’s 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 transaction, the chief executive officer directly owned 325,972 shares of the company’s stock, valued at $30,152,410. This represents a 60.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.24% of the stock is currently owned by corporate insiders.

ConocoPhillips Stock Performance

NYSE COP opened at $91.53 on Monday. The company has a current ratio of 1.32, a quick ratio of 1.18 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $113.10 billion, a PE ratio of 12.95, a price-to-earnings-growth ratio of 2.07 and a beta of 0.32. The business’s 50-day moving average price is $90.05 and its 200 day moving average price is $92.52. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $106.20.

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

ConocoPhillips Increases Dividend

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