RWA Wealth Partners LLC Raises Stock Position in ConocoPhillips (NYSE:COP)

RWA Wealth Partners LLC lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 42.9% in the fourth quarter, HoldingsChannel reports. The firm owned 10,003 shares of the energy producer’s stock after acquiring an additional 3,004 shares during the period. RWA Wealth Partners LLC’s holdings in ConocoPhillips were worth $1,161,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Orion Capital Management LLC purchased a new position in shares of ConocoPhillips during the 3rd quarter worth approximately $27,000. West Branch Capital LLC increased its stake in shares of ConocoPhillips by 87.8% during the 4th quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock worth $27,000 after purchasing an additional 108 shares in the last quarter. Oliver Lagore Vanvalin Investment Group increased its stake in shares of ConocoPhillips by 63.1% during the 3rd quarter. Oliver Lagore Vanvalin Investment Group now owns 287 shares of the energy producer’s stock worth $34,000 after purchasing an additional 111 shares in the last quarter. Spartan Planning & Wealth Management purchased a new position in shares of ConocoPhillips during the 3rd quarter worth approximately $40,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of ConocoPhillips during the 3rd quarter worth approximately $44,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Down 0.4 %

Shares of COP opened at $129.27 on Thursday. The firm has a market cap of $152.07 billion, a PE ratio of 14.27, a price-to-earnings-growth ratio of 2.71 and a beta of 1.24. The company’s fifty day moving average is $121.71 and its two-hundred day moving average is $117.49. ConocoPhillips has a fifty-two week low of $95.70 and a fifty-two week high of $135.18. 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 (NYSE:COP) last announced its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.32. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. The firm had revenue of $15.31 billion during the quarter, compared to analysts’ expectations of $14.47 billion. During the same period in the prior year, the company earned $2.71 EPS. Analysts forecast that ConocoPhillips will post 9.57 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.41%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Thursday, February 15th. ConocoPhillips’s dividend payout ratio is 25.61%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Wells Fargo & Company raised their price objective on shares of ConocoPhillips from $141.00 to $149.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 10th. UBS Group lifted their target price on shares of ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Barclays assumed coverage on shares of ConocoPhillips in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $158.00 target price for the company. Susquehanna lifted their target price on shares of ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a research note on Monday. Finally, Mizuho reaffirmed a “neutral” rating and issued a $139.00 target price (up from $132.00) on shares of ConocoPhillips in a research note on Friday, March 22nd. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, ConocoPhillips currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.24.

Insider Buying and Selling

In related news, VP Christopher P. Delk sold 8,505 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total transaction of $953,070.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction, the senior vice president now directly owns 2,654 shares of the company’s stock, valued at approximately $293,399.70. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Christopher P. Delk sold 8,505 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total transaction of $953,070.30. The disclosure for this sale can be found here. In the last three months, insiders sold 700,775 shares of company stock valued at $87,615,169. Company insiders own 0.34% of the company’s stock.

About ConocoPhillips

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.