ConocoPhillips (NYSE:COP) Shares Acquired by Red Door Wealth Management LLC

Red Door Wealth Management LLC lifted its stake in shares of ConocoPhillips (NYSE:COP) by 6.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,656 shares of the energy producer’s stock after acquiring an additional 262 shares during the period. Red Door Wealth Management LLC’s holdings in ConocoPhillips were worth $462,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Albion Financial Group UT boosted its stake in ConocoPhillips by 876.9% in the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after purchasing an additional 228 shares during the period. Values First Advisors Inc. bought a new stake in ConocoPhillips in the 3rd quarter valued at $26,000. Reston Wealth Management LLC acquired a new stake in shares of ConocoPhillips during the 3rd quarter valued at about $31,000. Truvestments Capital LLC acquired a new stake in shares of ConocoPhillips during the 3rd quarter worth about $31,000. Finally, Global Wealth Strategies & Associates boosted its holdings in shares of ConocoPhillips by 80.5% in the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after acquiring an additional 153 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Activity at ConocoPhillips

In other news, Director R A. Walker purchased 10,400 shares of the 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 transaction, the director now owns 38,000 shares in the company, valued at $3,716,400. The trade was a 37.68 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Arjun N. Murti bought 2,500 shares of the company’s stock in a transaction on Friday, December 20th. The stock was purchased at an average cost of $95.87 per share, with a total value of $239,675.00. Following the completion of the transaction, the director now owns 21,500 shares in the company, valued at $2,061,205. This represents a 13.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by insiders.

ConocoPhillips Trading Up 1.0 %

Shares of NYSE COP opened at $104.07 on Friday. The business’s 50 day moving average price is $103.36 and its 200-day moving average price is $107.22. ConocoPhillips has a fifty-two week low of $94.23 and a fifty-two week high of $135.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The company has a market cap of $119.77 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 0.86 and a beta of 1.19.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The business had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. During the same period in the prior year, the business earned $2.16 EPS. The business’s revenue for the quarter was down 8.5% compared to the same quarter last year. On average, sell-side analysts expect that ConocoPhillips will post 7.65 earnings per share for the current year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were given a $0.78 dividend. The ex-dividend date was Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a yield of 3.00%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is currently 37.10%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on COP. TD Cowen initiated coverage on shares of ConocoPhillips in a report on Friday, January 17th. They issued a “buy” rating and a $125.00 price target for the company. BMO Capital Markets upped their price objective on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Raymond James upped their price objective on ConocoPhillips from $148.00 to $157.00 and gave the company a “strong-buy” rating in a research note on Thursday. Morgan Stanley began coverage on ConocoPhillips in a report on Monday, December 16th. They set an “overweight” rating and a $128.00 target price for the company. Finally, Scotiabank lowered their price objective on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, ConocoPhillips has an average rating of “Buy” and an average target price of $135.89.

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.