MOKAN Wealth Management Inc. Sells 12,278 Shares of ConocoPhillips $COP

MOKAN Wealth Management Inc. lowered its stake in shares of ConocoPhillips (NYSE:COP) by 26.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,339 shares of the energy producer’s stock after selling 12,278 shares during the period. ConocoPhillips accounts for 1.6% of MOKAN Wealth Management Inc.’s holdings, making the stock its 19th biggest position. MOKAN Wealth Management Inc.’s holdings in ConocoPhillips were worth $3,154,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in COP. Howard Hughes Medical Institute bought a new stake in ConocoPhillips during the second quarter worth $25,000. Bogart Wealth LLC grew its position in shares of ConocoPhillips by 136.8% in the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock valued at $28,000 after acquiring an additional 182 shares during the period. Cedar Mountain Advisors LLC grew its position in shares of ConocoPhillips by 58.0% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 316 shares of the energy producer’s stock valued at $30,000 after acquiring an additional 116 shares during the period. Activest Wealth Management increased its stake in shares of ConocoPhillips by 249.5% during the 2nd quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock worth $29,000 after purchasing an additional 232 shares during the last quarter. Finally, BNP Paribas bought a new stake in shares of ConocoPhillips in the 2nd quarter valued at about $33,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $96.81 on Friday. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $106.20. The business has a fifty day moving average price of $93.26 and a two-hundred day moving average price of $92.99. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 1.18. The stock has a market capitalization of $119.63 billion, a PE ratio of 13.69, a P/E/G ratio of 2.87 and a beta of 0.32.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, November 6th. The energy producer reported $1.61 EPS for the quarter, beating the consensus estimate of $1.41 by $0.20. ConocoPhillips had a net margin of 14.25% and a return on equity of 13.64%. The firm had revenue of $15.03 billion for the quarter, compared to analyst estimates of $14.51 billion. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period last year, the firm earned $1.78 EPS. As a group, equities analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 17th were issued a dividend of $0.84 per share. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Monday, November 17th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.5%. ConocoPhillips’s payout ratio is presently 47.52%.

Insider Buying and Selling at ConocoPhillips

In related news, CEO Ryan Michael Lance sold 500,708 shares of ConocoPhillips stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $92.50, for a total transaction of $46,315,490.00. Following the sale, the chief executive officer directly owned 325,972 shares of the company’s stock, valued at approximately $30,152,410. The trade was a 60.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William H. Mcraven acquired 5,768 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The stock was bought at an average cost of $86.68 per share, with a total value of $499,970.24. Following the purchase, the director owned 5,768 shares in the company, valued at $499,970.24. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.24% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. The Goldman Sachs Group lifted their price target on ConocoPhillips from $108.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday. BMO Capital Markets cut their price objective on ConocoPhillips from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, December 15th. Evercore ISI decreased their target price on ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating on the stock in a report on Monday, October 6th. Johnson Rice cut ConocoPhillips from an “accumulate” rating to a “hold” rating and dropped their price target for the company from $108.00 to $105.00 in a research note on Friday, December 5th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $98.00 price target on shares of ConocoPhillips in a report on Tuesday. Sixteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $111.00.

ConocoPhillips Company 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.