Legacy Solutions LLC Makes New $271,000 Investment in ConocoPhillips (NYSE:COP)

Legacy Solutions LLC bought a new position in ConocoPhillips (NYSE:COP) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 2,729 shares of the energy producer’s stock, valued at approximately $271,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Cypress Capital Group increased its stake in ConocoPhillips by 0.5% in the third quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock valued at $1,978,000 after acquiring an additional 96 shares during the period. Orrstown Financial Services Inc. raised its holdings in shares of ConocoPhillips by 3.0% in the 4th quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer’s stock worth $331,000 after buying an additional 96 shares in the last quarter. Smithfield Trust Co lifted its position in shares of ConocoPhillips by 3.3% during the 3rd quarter. Smithfield Trust Co now owns 3,132 shares of the energy producer’s stock worth $332,000 after buying an additional 100 shares during the period. Principle Wealth Partners LLC lifted its position in shares of ConocoPhillips by 0.3% during the 4th quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer’s stock worth $3,695,000 after buying an additional 100 shares during the period. Finally, Verus Capital Partners LLC boosted its stake in ConocoPhillips by 2.0% in the 3rd quarter. Verus Capital Partners LLC now owns 5,137 shares of the energy producer’s stock valued at $541,000 after buying an additional 102 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Insider Activity at ConocoPhillips

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

ConocoPhillips Stock Performance

Shares of COP opened at $97.35 on Wednesday. The firm’s 50 day moving average price is $100.20 and its two-hundred day moving average price is $105.55. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. ConocoPhillips has a twelve month low of $94.23 and a twelve month high of $135.18. The firm has a market cap of $112.04 billion, a P/E ratio of 12.50, a PEG ratio of 0.75 and a beta of 1.18.

ConocoPhillips (NYSE:COP) last announced 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%. On average, analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 17th will be issued a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.20%. ConocoPhillips’s payout ratio is presently 40.05%.

Analysts Set New Price Targets

A number of brokerages have issued reports on COP. Morgan Stanley started coverage on ConocoPhillips in a report on Monday, December 16th. They set an “overweight” rating and a $128.00 price objective for the company. Raymond James lowered shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and reduced their price target for the company from $157.00 to $124.00 in a research report on Monday, February 10th. Wells Fargo & Company decreased their price objective on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $132.00 to $134.00 in a research note on Monday, December 16th. Finally, JPMorgan Chase & Co. upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and increased their price target for the stock 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 assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and an average target price of $133.56.

ConocoPhillips 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.