HighTower Advisors LLC Grows Position in ConocoPhillips $COP

HighTower Advisors LLC boosted its stake in ConocoPhillips (NYSE:COP) by 2.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 685,135 shares of the energy producer’s stock after purchasing an additional 16,144 shares during the quarter. HighTower Advisors LLC’s holdings in ConocoPhillips were worth $64,135,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cloud Capital Management LLC purchased a new position in shares of ConocoPhillips in the 3rd quarter valued at $26,000. KERR FINANCIAL PLANNING Corp purchased a new position in shares of ConocoPhillips in the 3rd quarter valued at $28,000. Board of the Pension Protection Fund purchased a new position in shares of ConocoPhillips in the 4th quarter valued at $28,000. Strive Asset Management LLC purchased a new position in shares of ConocoPhillips in the 3rd quarter valued at $28,000. Finally, BNP Paribas purchased a new position in shares of ConocoPhillips in the 2nd quarter valued at $33,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at ConocoPhillips

In other news, CEO Ryan Michael Lance sold 113,221 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer owned 350,000 shares of the company’s stock, valued at approximately $46,448,500. This trade represents a 24.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kelly Brunetti Rose sold 7,700 shares of the firm’s stock in a transaction that occurred on 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 sale, the senior vice president directly owned 25,284 shares of the company’s stock, valued at $3,287,678.52. The trade was a 23.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 734,891 shares of company stock valued at $93,345,692. Corporate insiders own 0.09% of the company’s stock.

ConocoPhillips Stock Performance

NYSE:COP opened at $122.33 on Thursday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14. The firm has a 50-day moving average of $123.48 and a two-hundred day moving average of $107.14. The stock has a market cap of $149.04 billion, a P/E ratio of 20.77, a PEG ratio of 1.44 and a beta of 0.14. ConocoPhillips has a 1-year low of $84.28 and a 1-year high of $135.87.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. The company had revenue of $15.76 billion during the quarter, compared to analysts’ expectations of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The firm’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.09 EPS. On average, research analysts expect that ConocoPhillips will post 9.63 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 11th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, May 11th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.7%. ConocoPhillips’s dividend payout ratio (DPR) is presently 57.05%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on COP shares. Citigroup raised their target price on shares of ConocoPhillips from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. Scotiabank raised their target price on shares of ConocoPhillips from $100.00 to $125.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Capital One Financial reduced their price target on ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating on the stock in a research report on Monday. Wall Street Zen raised ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Finally, Mizuho boosted their price target on ConocoPhillips from $121.00 to $136.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 17th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.12.

ConocoPhillips News Roundup

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips signed a 30-year gas sales agreement tied to the Alaska LNG project, giving the company long-duration visibility on gas volumes and strengthening the investment case for its Alaska assets. ConocoPhillips Alaska LNG Deal Extends Gas Visibility And Valuation Debate
• Positive Sentiment: Reuters reported that delays in ConocoPhillips’ Qatar gas joint ventures are expected to be measured in months rather than years, which reduces concern around the timing of future LNG growth. ConocoPhillips expects Qatar gas JVs delays of months, not years
• Positive Sentiment: Analysts and screeners highlighted COP as a high-ROE name, a momentum stock, and a company with rising earnings estimates, all of which can support investor demand for the shares. 5 Stocks With High ROE to Profit as Markets Skid on Tech Slump Earnings Estimates Rising for ConocoPhillips (COP): Will It Gain?
• Positive Sentiment: Jefferies reportedly set a new $161 price target for COP, reinforcing a constructive Wall Street view on the stock. ConocoPhillips Given New $161.00 Price Target at Jefferies Financial Group
• Neutral Sentiment: Several articles were more about COP’s standing versus peers or general broker sentiment, offering context but little immediate new catalyst. ConocoPhillips (COP) Is Considered a Good Investment by Brokers: Is That True? Occidental Petroleum Stock Is Up 45% This Year…
• Negative Sentiment: Despite the positive longer-term narrative, COP also tracked a broader market pullback and energy volatility, which may have contributed to the stock’s softer tone in the latest trading session. 5 Stocks With High ROE to Profit as Markets Skid on Tech Slump

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.