Delta Asset Management LLC TN Has $238,000 Holdings in ConocoPhillips (NYSE:COP)

Delta Asset Management LLC TN raised its holdings in ConocoPhillips (NYSE:COP) by 17.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,054 shares of the energy producer’s stock after buying an additional 300 shares during the quarter. Delta Asset Management LLC TN’s holdings in ConocoPhillips were worth $238,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in COP. Alphinity Investment Management Pty Ltd acquired a new stake in shares of ConocoPhillips in the third quarter valued at approximately $310,102,000. Capital Wealth Planning LLC lifted its position in ConocoPhillips by 45,426.8% during the third quarter. Capital Wealth Planning LLC now owns 1,429,085 shares of the energy producer’s stock worth $171,204,000 after purchasing an additional 1,425,946 shares during the period. International Assets Investment Management LLC lifted its position in ConocoPhillips by 13,905.3% during the fourth quarter. International Assets Investment Management LLC now owns 1,114,261 shares of the energy producer’s stock worth $129,332,000 after purchasing an additional 1,106,305 shares during the period. J.P. Morgan Private Wealth Advisors LLC bought a new stake in ConocoPhillips during the third quarter worth about $99,676,000. Finally, Pacer Advisors Inc. raised its stake in ConocoPhillips by 29.3% during the fourth quarter. Pacer Advisors Inc. now owns 3,422,834 shares of the energy producer’s stock worth $397,288,000 after acquiring an additional 776,107 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Susquehanna upped their price objective on ConocoPhillips from $133.00 to $154.00 and gave the company a “positive” rating in a research note on Monday, April 22nd. Morgan Stanley raised their target price on ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Scotiabank lifted their price objective on ConocoPhillips from $120.00 to $135.00 and gave the stock a “sector perform” rating in a report on Thursday, April 11th. Mizuho raised their target price on ConocoPhillips from $139.00 to $142.00 and gave the stock a “neutral” rating in a research note on Monday, May 13th. Finally, Royal Bank of Canada lifted their price target on ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, May 15th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and an average price target of $143.24.

Insider Activity at ConocoPhillips

In other 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 value of $953,070.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Christopher P. Delk sold 8,505 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total value of $953,070.30. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Nicholas G. Olds sold 12,150 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the completion of the sale, the executive vice president now owns 14,522 shares of the company’s stock, valued at approximately $1,836,161.68. The disclosure for this sale can be found here. Over the last three months, insiders sold 672,855 shares of company stock valued at $84,490,750. Insiders own 0.34% of the company’s stock.

ConocoPhillips Price Performance

ConocoPhillips stock traded down $2.22 during midday trading on Wednesday, reaching $118.19. 4,461,197 shares of the stock traded hands, compared to its average volume of 5,300,439. The stock’s fifty day moving average is $126.01 and its 200-day moving average is $117.74. ConocoPhillips has a 12 month low of $98.38 and a 12 month high of $135.18. The stock has a market cap of $138.23 billion, a P/E ratio of 13.42, a PEG ratio of 2.66 and a beta of 1.25. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.35.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 13th will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend is Friday, May 10th. ConocoPhillips’s payout ratio is presently 26.27%.

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.