United Asset Strategies Inc. Purchases New Shares in ConocoPhillips (NYSE:COP)

United Asset Strategies Inc. acquired a new position in shares of ConocoPhillips (NYSE:COP) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,543 shares of the energy producer’s stock, valued at approximately $351,000.

A number of other hedge funds have also bought and sold shares of COP. Albion Financial Group UT boosted its stake in shares of ConocoPhillips by 876.9% during the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after purchasing an additional 228 shares during the period. Values First Advisors Inc. bought a new position in shares of ConocoPhillips during the third quarter valued at approximately $26,000. Reston Wealth Management LLC purchased a new stake in shares of ConocoPhillips in the third quarter worth approximately $31,000. Truvestments Capital LLC bought a new stake in shares of ConocoPhillips during the 3rd quarter worth approximately $31,000. Finally, Global Wealth Strategies & Associates boosted its holdings in ConocoPhillips by 80.5% during the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after acquiring an additional 153 shares during the period. Institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on COP shares. TD Cowen began coverage on ConocoPhillips in a research report on Friday, January 17th. They set a “buy” rating and a $125.00 target price for the company. Wells Fargo & Company lowered their price objective on shares of ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. Evercore ISI reaffirmed an “outperform” rating and set a $165.00 target price on shares of ConocoPhillips in a research report on Friday, December 6th. Raymond James increased their price objective on ConocoPhillips from $148.00 to $157.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 23rd. Finally, Scotiabank decreased their target price on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, ConocoPhillips has an average rating of “Buy” and an average target price of $135.89.

Insider Buying and Selling at ConocoPhillips

In other news, Director Arjun N. Murti bought 2,500 shares of the stock in a transaction dated Friday, December 20th. The shares were acquired at an average cost of $95.87 per share, with a total value of $239,675.00. Following the purchase, the director now directly owns 21,500 shares in the company, valued at $2,061,205. The trade was a 13.16 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director R A. Walker purchased 10,400 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was acquired at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the purchase, the director now owns 38,000 shares in the company, valued at $3,716,400. This represents a 37.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.34% of the stock is owned by corporate insiders.

ConocoPhillips Price Performance

NYSE COP opened at $102.73 on Tuesday. The company has a market cap of $118.23 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 0.86 and a beta of 1.19. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The stock’s fifty day moving average price is $102.98 and its 200 day moving average price is $107.06. ConocoPhillips has a 1 year low of $94.23 and a 1 year high of $135.18.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The firm had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. During the same quarter in the prior year, the firm earned $2.16 earnings per share. ConocoPhillips’s revenue for the quarter was down 8.5% on a year-over-year basis. As a group, equities research analysts forecast that ConocoPhillips will post 7.65 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were given a dividend of $0.78 per share. The ex-dividend date was Friday, November 8th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a yield of 3.04%. ConocoPhillips’s payout ratio is currently 37.10%.

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.