FAS Wealth Partners Inc. Purchases 5,257 Shares of ConocoPhillips (NYSE:COP)

FAS Wealth Partners Inc. raised its stake in ConocoPhillips (NYSE:COPFree Report) by 41.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,041 shares of the energy producer’s stock after buying an additional 5,257 shares during the period. FAS Wealth Partners Inc.’s holdings in ConocoPhillips were worth $2,094,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in COP. Moneta Group Investment Advisors LLC boosted its position in ConocoPhillips by 98,832.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 8,584,373 shares of the energy producer’s stock valued at $1,012,956,000 after buying an additional 8,575,696 shares in the last quarter. Morgan Stanley lifted its holdings in shares of ConocoPhillips by 26.6% during the fourth quarter. Morgan Stanley now owns 16,647,723 shares of the energy producer’s stock worth $1,964,432,000 after purchasing an additional 3,497,750 shares during the period. Alphinity Investment Management Pty Ltd acquired a new position in shares of ConocoPhillips during the third quarter worth $310,102,000. Cowa LLC lifted its holdings in shares of ConocoPhillips by 6,475.2% during the first quarter. Cowa LLC now owns 2,375,224 shares of the energy producer’s stock worth $2,383,000 after purchasing an additional 2,339,100 shares during the period. Finally, T. Rowe Price Investment Management Inc. acquired a new position in shares of ConocoPhillips during the fourth quarter worth $186,330,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Trading Up 1.6 %

NYSE:COP opened at $130.69 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.29. The firm has a 50-day moving average of $115.08 and a 200-day moving average of $116.15. The company has a market cap of $153.74 billion, a PE ratio of 14.42, a PEG ratio of 2.92 and a beta of 1.24. ConocoPhillips has a one year low of $95.70 and a one year high of $130.84.

ConocoPhillips (NYSE:COPGet Free Report) last posted its earnings results on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, topping the consensus estimate of $2.08 by $0.32. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. The company had revenue of $15.31 billion during the quarter, compared to the consensus estimate of $14.47 billion. During the same period in the previous year, the firm posted $2.71 earnings per share. As a group, equities research analysts expect that ConocoPhillips will post 8.81 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 2.39%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Thursday, February 15th. ConocoPhillips’s dividend payout ratio is presently 25.61%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on COP. Susquehanna cut their price target on shares of ConocoPhillips from $152.00 to $133.00 and set a “positive” rating on the stock in a report on Friday, January 26th. Raymond James cut their price target on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th. Mizuho reiterated a “neutral” rating and set a $139.00 price target (up previously from $132.00) on shares of ConocoPhillips in a report on Friday, March 22nd. JPMorgan Chase & Co. cut their price target on shares of ConocoPhillips from $153.00 to $141.00 and set a “neutral” rating on the stock in a report on Friday, December 8th. Finally, Morgan Stanley lifted their price target on shares of ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $135.35.

View Our Latest Research Report on COP

Insiders Place Their Bets

In other ConocoPhillips news, SVP Heather G. Hrap sold 4,548 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total value of $502,781.40. Following the completion of the sale, the senior vice president now directly owns 2,654 shares of the company’s stock, valued at approximately $293,399.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other ConocoPhillips news, EVP Nicholas G. Olds sold 12,150 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $126.44, for a total value of $1,536,246.00. Following the completion of the sale, the executive vice president now directly owns 14,522 shares of the company’s stock, valued at approximately $1,836,161.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Heather G. Hrap sold 4,548 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total transaction of $502,781.40. Following the completion of the transaction, the senior vice president now owns 2,654 shares in the company, valued at $293,399.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 700,775 shares of company stock valued at $87,615,169. Corporate insiders own 0.37% of the company’s stock.

ConocoPhillips Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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