McAlvany Wealth Management LLC Purchases Shares of 29,928 ConocoPhillips $COP

McAlvany Wealth Management LLC acquired a new position in shares of ConocoPhillips (NYSE:COP) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 29,928 shares of the energy producer’s stock, valued at approximately $2,802,000. ConocoPhillips comprises about 2.2% of McAlvany Wealth Management LLC’s holdings, making the stock its 14th biggest holding.

Other hedge funds also recently modified their holdings of the company. Nicolet Advisory Services LLC grew its position in ConocoPhillips by 0.9% during the 4th quarter. Nicolet Advisory Services LLC now owns 10,352 shares of the energy producer’s stock worth $989,000 after acquiring an additional 95 shares during the last quarter. Duncan Williams Asset Management LLC raised its position in ConocoPhillips by 4.4% in the 4th quarter. Duncan Williams Asset Management LLC now owns 2,370 shares of the energy producer’s stock valued at $222,000 after purchasing an additional 100 shares during the last quarter. Wedge Capital Management L L P NC raised its position in ConocoPhillips by 4.1% in the 4th quarter. Wedge Capital Management L L P NC now owns 2,570 shares of the energy producer’s stock valued at $241,000 after purchasing an additional 101 shares during the last quarter. Strategic Blueprint LLC raised its position in ConocoPhillips by 1.3% in the 4th quarter. Strategic Blueprint LLC now owns 8,018 shares of the energy producer’s stock valued at $751,000 after purchasing an additional 101 shares during the last quarter. Finally, Chesapeake Wealth Management boosted its stake in ConocoPhillips by 1.5% in the fourth quarter. Chesapeake Wealth Management now owns 7,160 shares of the energy producer’s stock worth $670,000 after purchasing an additional 103 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Buying and Selling

In other ConocoPhillips news, SVP Kelly Brunetti Rose sold 7,700 shares of the company’s stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $130.03, for a total transaction of $1,001,231.00. Following the transaction, the senior vice president directly owned 25,284 shares in the company, valued at approximately $3,287,678.52. This represents a 23.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Nicholas G. Olds sold 6,994 shares of the firm’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $127.06, for a total transaction of $888,657.64. Following the completion of the transaction, the executive vice president directly owned 5,395 shares in the company, valued at $685,488.70. This trade represents a 56.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 127,915 shares of company stock worth $16,915,448 over the last three months. 0.09% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently commented on COP shares. Wolfe Research increased their target price on ConocoPhillips from $138.00 to $144.00 and gave the stock an “outperform” rating in a report on Monday, April 6th. Wall Street Zen raised ConocoPhillips from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Capital One Financial reduced their price target on shares of ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating on the stock in a research report on Monday, May 18th. Scotiabank increased their price objective on shares of ConocoPhillips from $100.00 to $125.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. Finally, BMO Capital Markets lowered their price objective on shares of ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. Seventeen equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average target price of $134.48.

ConocoPhillips Stock Up 0.2%

Shares of COP opened at $107.92 on Friday. The firm has a market capitalization of $131.48 billion, a price-to-earnings ratio of 18.32, a PEG ratio of 1.19 and a beta of 0.11. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. The business’s fifty day moving average price is $118.65 and its two-hundred day moving average price is $111.25. ConocoPhillips has a 52 week low of $85.57 and a 52 week high of $135.87.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, beating the consensus estimate of $1.72 by $0.17. The company had revenue of $15.76 billion during the quarter, compared to analysts’ expectations of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The business’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same period last year, the firm earned $2.09 EPS. On average, analysts predict that ConocoPhillips will post 10.03 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were issued a $0.84 dividend. The ex-dividend date was Monday, May 11th. This represents a $3.36 annualized dividend and a yield of 3.1%. ConocoPhillips’s dividend payout ratio (DPR) is currently 57.05%.

About ConocoPhillips

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.