FLC Capital Advisors Buys Shares of 1,771 ConocoPhillips (NYSE:COP)

FLC Capital Advisors bought a new stake in shares of ConocoPhillips (NYSE:COP) during the 4th quarter, Holdings Channel reports. The firm bought 1,771 shares of the energy producer’s stock, valued at approximately $206,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in COP. Norris Perne & French LLP MI increased its holdings in ConocoPhillips by 1.9% in the 3rd quarter. Norris Perne & French LLP MI now owns 4,364 shares of the energy producer’s stock worth $523,000 after acquiring an additional 80 shares in the last quarter. Sloy Dahl & Holst LLC grew its holdings in ConocoPhillips by 3.3% during the 3rd quarter. Sloy Dahl & Holst LLC now owns 2,629 shares of the energy producer’s stock valued at $315,000 after buying an additional 85 shares in the last quarter. Mascoma Wealth Management LLC boosted its position in shares of ConocoPhillips by 35.9% during the 3rd quarter. Mascoma Wealth Management LLC now owns 333 shares of the energy producer’s stock valued at $40,000 after acquiring an additional 88 shares during the last quarter. CRA Financial Services LLC boosted its position in shares of ConocoPhillips by 1.9% during the 3rd quarter. CRA Financial Services LLC now owns 4,702 shares of the energy producer’s stock valued at $563,000 after acquiring an additional 89 shares during the last quarter. Finally, KLCM Advisors Inc. lifted its position in ConocoPhillips by 2.8% in the third quarter. KLCM Advisors Inc. now owns 3,305 shares of the energy producer’s stock worth $396,000 after buying an additional 89 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on COP shares. Morgan Stanley raised their price target on ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a research report on Thursday. Scotiabank raised their price target on ConocoPhillips from $115.00 to $120.00 and gave the stock a “sector perform” rating in a report on Friday, February 9th. Mizuho reaffirmed a “neutral” rating and set a $139.00 target price (up previously from $132.00) on shares of ConocoPhillips in a report on Friday, March 22nd. Raymond James decreased their price target on ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 24th. Finally, UBS Group boosted their price objective on ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.35.

ConocoPhillips Stock Up 0.3 %

NYSE COP traded up $0.44 during trading hours on Thursday, hitting $127.28. 4,626,938 shares of the company were exchanged, compared to its average volume of 5,775,189. The company has a 50 day moving average of $113.87 and a two-hundred day moving average of $116.08. The company has a quick ratio of 1.29, a current ratio of 1.43 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 52-week low of $95.70 and a 52-week high of $128.64. The firm has a market cap of $149.73 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 2.87 and a beta of 1.23.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.32. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. The business had revenue of $15.31 billion for the quarter, compared to the consensus estimate of $14.47 billion. During the same quarter in the prior year, the business posted $2.71 EPS. Equities research analysts anticipate that ConocoPhillips will post 8.79 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 19th were issued a $0.78 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.45%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is presently 25.61%.

Insider Activity

In related news, VP Christopher P. Delk sold 8,505 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total transaction of $953,070.30. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Ryan Michael Lance sold 607,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $125.91, for a total value of $76,427,370.00. Following the completion of the transaction, the chief executive officer now directly owns 6,780 shares of the company’s stock, valued at approximately $853,669.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Christopher P. Delk sold 8,505 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total value of $953,070.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 700,775 shares of company stock worth $87,615,169. 0.37% of the stock is currently owned by insiders.

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.