6,665 ConocoPhillips $COP Shares Acquired by McGlone Suttner Wealth Management Inc.

McGlone Suttner Wealth Management Inc. boosted its stake in shares of ConocoPhillips (NYSE:COP) by 70.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,108 shares of the energy producer’s stock after purchasing an additional 6,665 shares during the quarter. McGlone Suttner Wealth Management Inc.’s holdings in ConocoPhillips were worth $2,016,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. NorthCrest Asset Manangement LLC grew its stake in shares of ConocoPhillips by 94.5% in the third quarter. NorthCrest Asset Manangement LLC now owns 78,901 shares of the energy producer’s stock valued at $9,874,000 after acquiring an additional 38,329 shares in the last quarter. Avior Wealth Management LLC raised its stake in ConocoPhillips by 50.3% in the 3rd quarter. Avior Wealth Management LLC now owns 31,632 shares of the energy producer’s stock worth $3,959,000 after purchasing an additional 10,582 shares in the last quarter. Baldwin Wealth Partners LLC MA raised its stake in ConocoPhillips by 58.6% in the 3rd quarter. Baldwin Wealth Partners LLC MA now owns 6,256 shares of the energy producer’s stock worth $783,000 after purchasing an additional 2,312 shares in the last quarter. JGP Wealth Management LLC bought a new stake in ConocoPhillips in the 3rd quarter valued at about $209,000. Finally, HF Advisory Group LLC boosted its holdings in ConocoPhillips by 17.8% in the 3rd quarter. HF Advisory Group LLC now owns 26,494 shares of the energy producer’s stock valued at $3,487,000 after purchasing an additional 4,010 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Price Performance

COP stock traded up $2.52 during midday trading on Tuesday, reaching $140.08. The company had a trading volume of 2,146,680 shares, compared to its average volume of 8,062,625. ConocoPhillips has a 1-year low of $85.57 and a 1-year high of $141.62. The stock has a 50 day moving average price of $130.02 and a 200-day moving average price of $122.07. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.39. The company has a market capitalization of $168.29 billion, a price-to-earnings ratio of 18.54, a price-to-earnings-growth ratio of 1.38 and a beta of 0.24.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.90 by $0.34. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The firm had revenue of $19.52 billion for the quarter, compared to the consensus estimate of $18.79 billion. During the same period in the prior year, the company posted $1.42 earnings per share. The business’s revenue for the quarter was up 32.4% on a year-over-year basis. Equities research analysts expect that ConocoPhillips will post 10.84 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Monday, August 17th. ConocoPhillips’s dividend payout ratio is 44.44%.

Insider Activity

In related news, SVP Andrew Lundquist sold 9,487 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the sale, the senior vice president owned 9,593 shares in the company, valued at approximately $1,296,493.95. This trade represents a 49.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on COP. Jefferies Financial Group raised their target price on shares of ConocoPhillips from $159.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, October 6th. Zacks Research upgraded ConocoPhillips from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 6th. Argus boosted their price target on ConocoPhillips from $136.00 to $153.00 and gave the company a “buy” rating in a research note on Wednesday, August 19th. Seaport Research Partners began coverage on ConocoPhillips in a research report on Thursday, September 3rd. They set a “neutral” rating on the stock. Finally, Freedom Capital upgraded ConocoPhillips from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, ConocoPhillips currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.29.

ConocoPhillips Company Profile

ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged in finding, developing and producing crude oil, natural gas, natural gas liquids and liquefied natural gas. Unlike integrated energy companies, ConocoPhillips focuses primarily on upstream activities rather than refining and retail fuel operations.

The company has a diversified portfolio of assets in major producing regions, including the United States, Canada, Australia, Norway and Qatar. Its U.S. operations include oil and gas developments in Alaska and the Lower 48 states, while its international portfolio includes conventional and offshore projects.