Greenup Street Wealth Management LLC Makes New Investment in ConocoPhillips $COP

Greenup Street Wealth Management LLC purchased a new stake in ConocoPhillips (NYSE:COP) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 9,691 shares of the energy producer’s stock, valued at approximately $917,000.

Other institutional investors have also recently made changes to their positions in the company. Truvestments Capital LLC boosted its stake in ConocoPhillips by 21.0% during the first quarter. Truvestments Capital LLC now owns 785 shares of the energy producer’s stock valued at $82,000 after buying an additional 136 shares during the period. WPG Advisers LLC purchased a new stake in shares of ConocoPhillips in the 1st quarter valued at about $64,000. GKV Capital Management Co. Inc. boosted its position in shares of ConocoPhillips by 39.5% during the 1st quarter. GKV Capital Management Co. Inc. now owns 9,950 shares of the energy producer’s stock valued at $1,045,000 after acquiring an additional 2,815 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of ConocoPhillips by 6,041.6% during the first quarter. Canada Pension Plan Investment Board now owns 1,177,101 shares of the energy producer’s stock worth $123,619,000 after purchasing an additional 1,157,935 shares in the last quarter. Finally, Clough Capital Partners L P bought a new position in shares of ConocoPhillips in the first quarter worth approximately $1,324,000. Institutional investors own 82.36% of the company’s stock.

Insider Buying and Selling

In other news, Director William H. Mcraven purchased 5,768 shares of the company’s stock in a transaction on Monday, November 10th. The stock was acquired at an average price of $86.68 per share, with a total value of $499,970.24. Following the transaction, the director directly owned 5,768 shares of the company’s stock, valued at approximately $499,970.24. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Michael Lance sold 500,708 shares of the firm’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $92.50, for a total transaction of $46,315,490.00. Following the completion of the sale, the chief executive officer directly owned 325,972 shares in the company, valued at approximately $30,152,410. This trade represents a 60.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

COP has been the subject of several research analyst reports. UBS Group lifted their target price on shares of ConocoPhillips from $117.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, December 12th. BMO Capital Markets dropped their price objective on shares of ConocoPhillips from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, December 15th. Jefferies Financial Group reiterated a “buy” rating on shares of ConocoPhillips in a research report on Monday, December 15th. Royal Bank Of Canada raised their price target on ConocoPhillips from $113.00 to $118.00 and gave the company an “outperform” rating in a research report on Monday, October 13th. Finally, Barclays dropped their price target on ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating for the company in a research note on Tuesday, October 7th. Nineteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $114.08.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $91.53 on Friday. The firm has a fifty day simple moving average of $90.05 and a two-hundred day simple moving average of $92.51. The company has a quick ratio of 1.18, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $106.20. The company has a market capitalization of $113.10 billion, a PE ratio of 12.95, a P/E/G ratio of 2.08 and a beta of 0.32.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, November 6th. The energy producer reported $1.61 EPS for the quarter, topping the consensus estimate of $1.41 by $0.20. ConocoPhillips had a return on equity of 13.64% and a net margin of 14.25%.The firm had revenue of $15.03 billion for the quarter, compared to the consensus estimate of $14.51 billion. During the same quarter in the previous year, the business earned $1.78 earnings per share. The company’s quarterly revenue was up 14.1% on a year-over-year basis. Research analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 17th were given a $0.84 dividend. The ex-dividend date was Monday, November 17th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.78. This represents a $3.36 annualized dividend and a yield of 3.7%. ConocoPhillips’s dividend payout ratio is presently 47.52%.

ConocoPhillips Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.