ConocoPhillips $COP Position Lifted by Wedmont Private Capital

Wedmont Private Capital raised its stake in ConocoPhillips (NYSE:COP) by 144.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,652 shares of the energy producer’s stock after buying an additional 28,144 shares during the period. Wedmont Private Capital’s holdings in ConocoPhillips were worth $5,964,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Athena Wealth Management LLC boosted its holdings in shares of ConocoPhillips by 1.2% in the third quarter. Athena Wealth Management LLC now owns 13,423 shares of the energy producer’s stock valued at $1,680,000 after purchasing an additional 163 shares during the period. Journey Retirement Planning & Investment Management LLC raised its position in ConocoPhillips by 72.9% during the 3rd quarter. Journey Retirement Planning & Investment Management LLC now owns 13,225 shares of the energy producer’s stock valued at $1,655,000 after purchasing an additional 5,574 shares in the last quarter. BOS Asset Management LLC lifted its holdings in shares of ConocoPhillips by 76.9% in the 3rd quarter. BOS Asset Management LLC now owns 3,510 shares of the energy producer’s stock worth $439,000 after buying an additional 1,526 shares during the period. Lawood & Co. grew its position in shares of ConocoPhillips by 246.1% during the 3rd quarter. Lawood & Co. now owns 21,007 shares of the energy producer’s stock worth $2,629,000 after buying an additional 14,937 shares in the last quarter. Finally, Douglas Lane & Associates LLC grew its position in shares of ConocoPhillips by 28,233.6% during the 3rd quarter. Douglas Lane & Associates LLC now owns 833,857 shares of the energy producer’s stock worth $104,357,000 after buying an additional 830,914 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

Insider Buying and Selling at ConocoPhillips

In related news, SVP Andrew Lundquist sold 9,487 shares of the business’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the transaction, the senior vice president directly owned 9,593 shares in the company, valued at $1,296,493.95. The trade was a 49.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.09% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on COP shares. Zacks Research upgraded ConocoPhillips from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Argus raised their target price on shares of ConocoPhillips from $136.00 to $153.00 and gave the company a “buy” rating in a research report on Wednesday, August 19th. Wall Street Zen upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Roth Capital upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and increased their price objective for the company from $124.00 to $130.00 in a research note on Monday, June 22nd. Finally, Weiss Ratings raised shares of ConocoPhillips from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, September 29th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $143.29.

ConocoPhillips Stock Up 0.3%

ConocoPhillips stock traded up $0.36 during trading hours on Friday, reaching $134.55. The stock had a trading volume of 1,791,726 shares, compared to its average volume of 8,101,841. The company has a market cap of $161.64 billion, a price-to-earnings ratio of 17.80, a PEG ratio of 1.35 and a beta of 0.24. The business’s 50 day moving average price is $129.39 and its 200-day moving average price is $121.96. ConocoPhillips has a 52 week low of $85.57 and a 52 week high of $141.62. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.39.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, beating 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 business had revenue of $19.52 billion for the quarter, compared to analysts’ expectations of $18.79 billion. During the same period last year, the business earned $1.42 EPS. The company’s revenue was up 32.4% compared to the same quarter last year. Sell-side analysts anticipate that ConocoPhillips will post 10.68 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were given a $0.84 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.5%. ConocoPhillips’s dividend payout ratio (DPR) is presently 44.44%.

About ConocoPhillips

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.