Summit Trail Advisors LLC Buys 2,056 Shares of ConocoPhillips (NYSE:COP)

Summit Trail Advisors LLC raised its holdings in ConocoPhillips (NYSE:COP) by 8.5% in the fourth quarter, Holdings Channel reports. The firm owned 26,126 shares of the energy producer’s stock after purchasing an additional 2,056 shares during the period. Summit Trail Advisors LLC’s holdings in ConocoPhillips were worth $2,591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Sapient Capital LLC grew its stake in ConocoPhillips by 13.1% in the 4th quarter. Sapient Capital LLC now owns 5,922 shares of the energy producer’s stock valued at $587,000 after purchasing an additional 687 shares during the period. Paladin Wealth LLC grew its stake in ConocoPhillips by 16.9% in the 4th quarter. Paladin Wealth LLC now owns 7,686 shares of the energy producer’s stock valued at $762,000 after purchasing an additional 1,110 shares during the period. Principle Wealth Partners LLC grew its stake in ConocoPhillips by 0.3% in the 4th quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer’s stock valued at $3,695,000 after purchasing an additional 100 shares during the period. Panoramic Capital Partners LLC purchased a new position in shares of ConocoPhillips during the 4th quarter valued at $276,000. Finally, Arlington Trust Co LLC grew its stake in shares of ConocoPhillips by 1.2% during the 4th quarter. Arlington Trust Co LLC now owns 8,640 shares of the energy producer’s stock worth $857,000 after acquiring an additional 102 shares during the period. Institutional investors own 82.36% of the company’s stock.

Insider Transactions at ConocoPhillips

In related news, Director R A. Walker purchased 10,400 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were purchased at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the acquisition, the director now directly owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. This represents a 37.68 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arjun N. Murti purchased 2,500 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was bought at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the acquisition, the director now directly owns 21,500 shares in the company, valued at approximately $2,061,205. The trade was a 13.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on COP. Barclays lowered their price objective on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday. Susquehanna boosted their price target on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Wells Fargo & Company lowered their price target on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a research report on Monday. TD Cowen assumed coverage on shares of ConocoPhillips in a research report on Friday, January 17th. They issued a “buy” rating and a $125.00 price target on the stock. Finally, JPMorgan Chase & Co. raised shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $120.00 to $123.00 in a research report on Thursday, December 5th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $133.72.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $99.39 on Tuesday. The firm’s 50 day simple moving average is $101.05 and its 200 day simple moving average is $106.11. The company has a current ratio of 1.29, a quick ratio of 1.16 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $114.39 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 0.77 and a beta of 1.18. ConocoPhillips has a 1-year low of $94.23 and a 1-year high of $135.18.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. As a group, analysts expect that ConocoPhillips will post 8.3 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 17th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date is Friday, February 14th. ConocoPhillips’s payout ratio is 40.05%.

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.