Evanson Asset Management LLC Purchases Shares of 2,413 ConocoPhillips (NYSE:COP)

Evanson Asset Management LLC bought a new position in ConocoPhillips (NYSE:COP) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 2,413 shares of the energy producer’s stock, valued at approximately $239,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Values First Advisors Inc. purchased a new stake in shares of ConocoPhillips during the third quarter worth about $26,000. Reston Wealth Management LLC purchased a new position in shares of ConocoPhillips in the third quarter worth $31,000. Truvestments Capital LLC bought a new position in shares of ConocoPhillips during the third quarter worth $31,000. RPg Family Wealth Advisory LLC purchased a new position in ConocoPhillips during the third quarter valued at $35,000. Finally, Global Wealth Strategies & Associates increased its holdings in ConocoPhillips by 80.5% in the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after acquiring an additional 153 shares during the last quarter. 82.36% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on COP. Susquehanna lifted their target price on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a report on Friday, November 1st. TD Cowen initiated coverage on ConocoPhillips in a report on Friday. They issued a “buy” rating and a $125.00 target price for the company. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $132.00 to $134.00 in a research report on Monday, December 16th. Wells Fargo & Company dropped their price target on shares of ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $165.00 price target on shares of ConocoPhillips in a report on Friday, December 6th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $136.00.

ConocoPhillips Stock Up 0.1 %

Shares of ConocoPhillips stock opened at $105.76 on Tuesday. ConocoPhillips has a 52-week low of $94.23 and a 52-week high of $135.18. The firm’s 50 day moving average price is $103.79 and its 200-day moving average price is $107.37. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The company has a market cap of $121.72 billion, a P/E ratio of 12.58, a PEG ratio of 0.81 and a beta of 1.19.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. The business had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The business’s quarterly revenue was down 8.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.16 earnings per share. On average, sell-side analysts predict that ConocoPhillips will post 7.7 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were paid a dividend of $0.78 per share. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.95%. ConocoPhillips’s payout ratio is presently 37.10%.

Insider Activity

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

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.