ConocoPhillips $COP Stock Position Increased by ZWJ Investment Counsel Inc.

ZWJ Investment Counsel Inc. increased its holdings in ConocoPhillips (NYSE:COP) by 34.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,162 shares of the energy producer’s stock after buying an additional 3,663 shares during the period. ZWJ Investment Counsel Inc.’s holdings in ConocoPhillips were worth $1,842,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in ConocoPhillips during the 4th quarter valued at $25,000. Frazier Financial Advisors LLC lifted its position in shares of ConocoPhillips by 151.0% during the first quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock worth $32,000 after acquiring an additional 145 shares in the last quarter. Allied Private Wealth LLC bought a new position in shares of ConocoPhillips in the second quarter worth $32,000. Evergreen Advisors LLC bought a new position in shares of ConocoPhillips in the first quarter worth $36,000. Finally, Ballast Advisors LLC bought a new position in shares of ConocoPhillips in the first quarter worth $36,000. 82.36% of the stock is owned by institutional investors.

Insider Activity at ConocoPhillips

In related news, SVP Andrew Lundquist sold 9,487 shares of the company’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 directly owned 9,593 shares in the company, valued at approximately $1,296,493.95. This represents a 49.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

COP has been the subject of several recent research reports. Freedom Capital upgraded ConocoPhillips from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. Wall Street Zen raised ConocoPhillips from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Royal Bank Of Canada set a $130.00 price objective on ConocoPhillips in a report on Monday, June 22nd. Argus raised their target price on ConocoPhillips from $136.00 to $153.00 and gave the stock a “buy” rating in a research note on Wednesday, August 19th. Finally, Mizuho reduced their target price on ConocoPhillips from $150.00 to $146.00 and set an “outperform” rating for the company in a report on Tuesday, July 7th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $143.29.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $142.34 on Thursday. ConocoPhillips has a 52 week low of $85.57 and a 52 week high of $142.55. The business has a 50-day simple moving average of $131.03 and a 200 day simple moving average of $122.22. The company has a quick ratio of 1.39, a current ratio of 1.54 and a debt-to-equity ratio of 0.35. The stock has a market cap of $171.00 billion, a price-to-earnings ratio of 18.83, a PEG ratio of 1.44 and a beta of 0.24.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, beating 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 analysts’ expectations of $18.79 billion. During the same quarter last year, the firm posted $1.42 EPS. The company’s revenue was up 32.4% compared to the same quarter last year. On average, research analysts forecast that ConocoPhillips will post 10.84 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

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

About ConocoPhillips

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.