ConocoPhillips $COP Shares Purchased by Impact Partnership Wealth LLC

Impact Partnership Wealth LLC raised its holdings in shares of ConocoPhillips (NYSE:COP) by 287.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 22,352 shares of the energy producer’s stock after acquiring an additional 16,583 shares during the quarter. Impact Partnership Wealth LLC’s holdings in ConocoPhillips were worth $2,092,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in COP. AXA S.A. lifted its position in shares of ConocoPhillips by 91.1% during the second quarter. AXA S.A. now owns 84,937 shares of the energy producer’s stock worth $7,622,000 after purchasing an additional 40,499 shares in the last quarter. Sei Investments Co. lifted its position in shares of ConocoPhillips by 6.1% during the second quarter. Sei Investments Co. now owns 784,368 shares of the energy producer’s stock worth $70,397,000 after purchasing an additional 44,852 shares in the last quarter. BNP Paribas acquired a new position in shares of ConocoPhillips during the second quarter worth $33,000. Osterweis Capital Management Inc. acquired a new position in shares of ConocoPhillips during the second quarter worth $151,000. Finally, Main Street Financial Solutions LLC lifted its position in shares of ConocoPhillips by 53.5% during the second quarter. Main Street Financial Solutions LLC now owns 4,806 shares of the energy producer’s stock worth $431,000 after purchasing an additional 1,675 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on COP. Mizuho boosted their target price on shares of ConocoPhillips from $136.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday. Citigroup boosted their target price on shares of ConocoPhillips from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. Susquehanna boosted their target price on shares of ConocoPhillips from $149.00 to $152.00 in a research report on Friday, May 1st. UBS Group boosted their target price on shares of ConocoPhillips from $130.00 to $144.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Finally, Barclays lifted their price target on shares of ConocoPhillips from $136.00 to $155.00 and gave the stock an “overweight” rating in a research note on Tuesday. Seventeen equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $134.60.

ConocoPhillips Stock Down 0.8%

COP stock opened at $114.01 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14. ConocoPhillips has a 1-year low of $84.33 and a 1-year high of $135.87. The firm has a fifty day moving average price of $123.09 and a two-hundred day moving average price of $108.46. The firm has a market cap of $138.90 billion, a price-to-earnings ratio of 19.36, a PEG ratio of 1.29 and a beta of 0.14.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.17. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The firm had revenue of $15.76 billion during the quarter, compared to analyst estimates of $15.62 billion. During the same quarter in the previous year, the firm earned $2.09 earnings per share. The firm’s revenue for the quarter was down 6.1% compared to the same quarter last year. Research analysts predict that ConocoPhillips will post 9.92 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 11th will be paid a dividend of $0.84 per share. The ex-dividend date is Monday, May 11th. This represents a $3.36 annualized dividend and a yield of 2.9%. ConocoPhillips’s payout ratio is presently 57.05%.

Insider Activity

In other news, CEO Ryan Michael Lance sold 113,221 shares of the company’s stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $132.71, for a total transaction of $15,025,558.91. Following the completion of the transaction, the chief executive officer owned 350,000 shares in the company, valued at approximately $46,448,500. This represents a 24.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kelly Brunetti Rose sold 7,700 shares of the company’s stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $130.03, for a total transaction of $1,001,231.00. Following the transaction, the senior vice president owned 25,284 shares of the company’s stock, valued at $3,287,678.52. This represents a 23.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 734,891 shares of company stock valued at $93,345,692 over the last quarter. 0.09% of the stock is owned by company insiders.

About ConocoPhillips

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.