Allworth Financial LP Boosts Stock Position in ConocoPhillips (NYSE:COP)

Allworth Financial LP raised its stake in shares of ConocoPhillips (NYSE:COP) by 17.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,056 shares of the energy producer’s stock after buying an additional 3,372 shares during the quarter. Allworth Financial LP’s holdings in ConocoPhillips were worth $2,376,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. AMF Tjanstepension AB lifted its stake in shares of ConocoPhillips by 4.7% in the third quarter. AMF Tjanstepension AB now owns 1,163,724 shares of the energy producer’s stock worth $122,628,000 after buying an additional 52,334 shares in the last quarter. Vest Financial LLC raised its holdings in ConocoPhillips by 244.2% in the 3rd quarter. Vest Financial LLC now owns 8,830 shares of the energy producer’s stock worth $930,000 after acquiring an additional 6,265 shares during the last quarter. Whittier Trust Co. lifted its position in ConocoPhillips by 3.1% in the 3rd quarter. Whittier Trust Co. now owns 20,093 shares of the energy producer’s stock valued at $2,115,000 after acquiring an additional 596 shares in the last quarter. Foundations Investment Advisors LLC boosted its stake in ConocoPhillips by 2.1% during the 3rd quarter. Foundations Investment Advisors LLC now owns 12,268 shares of the energy producer’s stock valued at $1,292,000 after purchasing an additional 256 shares during the last quarter. Finally, Home Federal Bank of Tennessee increased its holdings in shares of ConocoPhillips by 1.8% in the 3rd quarter. Home Federal Bank of Tennessee now owns 13,358 shares of the energy producer’s stock worth $1,406,000 after purchasing an additional 235 shares in the last quarter. 82.36% of the stock is owned by institutional investors.

Insider Transactions at ConocoPhillips

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Morgan Stanley started coverage on ConocoPhillips in a research report on Monday, December 16th. They issued an “overweight” rating and a $128.00 target price for the company. Barclays decreased their price objective on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Wells Fargo & Company dropped their target price on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Evercore ISI reiterated an “outperform” rating and set a $165.00 target price on shares of ConocoPhillips in a research note on Friday, December 6th. Finally, TD Cowen assumed coverage on ConocoPhillips in a research note on Friday, January 17th. They issued a “buy” rating and a $125.00 price target on the stock. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and an average target price of $133.56.

ConocoPhillips Trading Up 1.1 %

ConocoPhillips stock opened at $97.35 on Wednesday. ConocoPhillips has a 12-month low of $94.23 and a 12-month high of $135.18. The firm has a market capitalization of $112.04 billion, a price-to-earnings ratio of 12.50, a P/E/G ratio of 0.77 and a beta of 1.18. The firm has a 50 day moving average of $100.30 and a 200 day moving average of $105.61. The company has a current ratio of 1.29, a quick ratio of 1.16 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) 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, research analysts predict that ConocoPhillips will post 8.3 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 17th will be given a $0.78 dividend. The ex-dividend date is Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.20%. ConocoPhillips’s payout ratio is 40.05%.

ConocoPhillips Company Profile

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.