ConocoPhillips $COP Shares Acquired by McGlone Suttner Wealth Management Inc.

McGlone Suttner Wealth Management Inc. raised its holdings in ConocoPhillips (NYSE:COP) by 70.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,108 shares of the energy producer’s stock after acquiring an additional 6,665 shares during the period. McGlone Suttner Wealth Management Inc.’s holdings in ConocoPhillips were worth $2,016,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. NorthCrest Asset Manangement LLC lifted its stake in ConocoPhillips by 94.5% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 78,901 shares of the energy producer’s stock valued at $9,874,000 after purchasing an additional 38,329 shares during the last quarter. Avior Wealth Management LLC grew its stake in shares of ConocoPhillips by 50.3% during the third quarter. Avior Wealth Management LLC now owns 31,632 shares of the energy producer’s stock worth $3,959,000 after buying an additional 10,582 shares during the last quarter. Baldwin Wealth Partners LLC MA grew its stake in shares of ConocoPhillips by 58.6% during the third quarter. Baldwin Wealth Partners LLC MA now owns 6,256 shares of the energy producer’s stock worth $783,000 after buying an additional 2,312 shares during the last quarter. JGP Wealth Management LLC acquired a new position in shares of ConocoPhillips during the third quarter worth $209,000. Finally, HF Advisory Group LLC increased its holdings in shares of ConocoPhillips by 17.8% during the third quarter. HF Advisory Group LLC now owns 26,494 shares of the energy producer’s stock worth $3,487,000 after buying an additional 4,010 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on COP shares. The Goldman Sachs Group dropped their price target on ConocoPhillips from $144.00 to $138.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. UBS Group upped their target price on ConocoPhillips from $153.00 to $169.00 and gave the stock a “buy” rating in a report on Monday, September 14th. Wells Fargo & Company upped their target price on ConocoPhillips from $183.00 to $189.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Wall Street Zen upgraded ConocoPhillips from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Raymond James Financial reissued an “underperform” rating and set a $168.00 price target on shares of ConocoPhillips in a research note on Monday, August 24th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $143.29.

ConocoPhillips Trading Up 1.8%

NYSE COP traded up $2.52 on Tuesday, reaching $140.08. The company had a trading volume of 2,146,680 shares, compared to its average volume of 8,062,625. The firm has a market cap of $168.29 billion, a price-to-earnings ratio of 18.54, a P/E/G ratio of 1.38 and a beta of 0.24. ConocoPhillips has a fifty-two week low of $85.57 and a fifty-two week high of $141.62. The business has a 50 day moving average of $130.02 and a two-hundred day moving average of $122.07. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.39.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, topping the consensus estimate of $2.90 by $0.34. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%. The firm had revenue of $19.52 billion for the quarter, compared to the consensus estimate of $18.79 billion. During the same period in the previous year, the business earned $1.42 EPS. The business’s quarterly revenue was up 32.4% compared to the same quarter last year. Analysts forecast that ConocoPhillips will post 10.84 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were issued a dividend of $0.84 per share. The ex-dividend date was Monday, August 17th. This represents a $3.36 annualized dividend and a yield of 2.4%. ConocoPhillips’s dividend payout ratio (DPR) is presently 44.44%.

Insider Transactions at ConocoPhillips

In other news, SVP Andrew Lundquist sold 9,487 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $135.15, for a total value of $1,282,168.05. Following the transaction, the senior vice president owned 9,593 shares in the company, valued at approximately $1,296,493.95. The trade was a 49.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.09% of the company’s stock.

ConocoPhillips Profile

ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged in finding, developing and producing crude oil, natural gas, natural gas liquids and liquefied natural gas. Unlike integrated energy companies, ConocoPhillips focuses primarily on upstream activities rather than refining and retail fuel operations.

The company has a diversified portfolio of assets in major producing regions, including the United States, Canada, Australia, Norway and Qatar. Its U.S. operations include oil and gas developments in Alaska and the Lower 48 states, while its international portfolio includes conventional and offshore projects.