Elevatus Welath Management Has $232,000 Stake in ConocoPhillips (NYSE:COP)

Elevatus Welath Management grew its stake in shares of ConocoPhillips (NYSE:COP) by 9.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,340 shares of the energy producer’s stock after buying an additional 210 shares during the period. Elevatus Welath Management’s holdings in ConocoPhillips were worth $232,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Morse Asset Management Inc acquired a new position in shares of ConocoPhillips in the 3rd quarter valued at $805,000. Anchor Investment Management LLC lifted its holdings in ConocoPhillips by 5.5% during the third quarter. Anchor Investment Management LLC now owns 11,322 shares of the energy producer’s stock worth $1,192,000 after acquiring an additional 589 shares in the last quarter. Fulcrum Equity Management grew its stake in ConocoPhillips by 24.1% in the third quarter. Fulcrum Equity Management now owns 5,939 shares of the energy producer’s stock valued at $625,000 after acquiring an additional 1,155 shares during the period. World Investment Advisors LLC increased its holdings in shares of ConocoPhillips by 746.7% in the third quarter. World Investment Advisors LLC now owns 43,928 shares of the energy producer’s stock worth $4,625,000 after acquiring an additional 38,740 shares in the last quarter. Finally, Arvest Bank Trust Division acquired a new stake in shares of ConocoPhillips during the third quarter worth about $11,549,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Price Performance

NYSE:COP opened at $88.96 on Friday. The stock has a market capitalization of $112.46 billion, a PE ratio of 11.42, a P/E/G ratio of 0.79 and a beta of 0.83. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $130.77. The firm has a fifty day simple moving average of $95.25 and a 200 day simple moving average of $101.44. The company has a current ratio of 1.29, a quick ratio of 1.14 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 EPS for the quarter, beating 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, research analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were paid a $0.78 dividend. The ex-dividend date was Friday, February 14th. This represents a $3.12 annualized dividend and a yield of 3.51%. ConocoPhillips’s dividend payout ratio is 40.05%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Barclays decreased their price objective on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. The Goldman Sachs Group set a $132.00 price objective on shares of ConocoPhillips in a research report on Thursday, January 30th. JPMorgan Chase & Co. dropped their price objective on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. UBS Group reduced their target price on shares of ConocoPhillips from $116.00 to $111.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Morgan Stanley reissued an “overweight” rating and issued a $116.00 price target on shares of ConocoPhillips in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $128.32.

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.