Northwestern Mutual Wealth Management Co. Has $7.21 Million Stake in ConocoPhillips (COP)

Northwestern Mutual Wealth Management Co. lessened its stake in shares of ConocoPhillips (NYSE:COP) by 2.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 93,143 shares of the energy producer’s stock after selling 2,429 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in ConocoPhillips were worth $7,208,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. IMA Wealth Inc. purchased a new position in shares of ConocoPhillips during the 2nd quarter worth $100,000. Acropolis Investment Management LLC purchased a new position in shares of ConocoPhillips during the 2nd quarter worth $107,000. Palo Capital Inc. purchased a new position in shares of ConocoPhillips during the 3rd quarter worth $131,000. Adviser Investments LLC raised its holdings in shares of ConocoPhillips by 139.4% during the 2nd quarter. Adviser Investments LLC now owns 1,956 shares of the energy producer’s stock worth $136,000 after acquiring an additional 1,139 shares during the period. Finally, Lucia Wealth Services LLC raised its holdings in shares of ConocoPhillips by 541.3% during the 2nd quarter. Lucia Wealth Services LLC now owns 2,251 shares of the energy producer’s stock worth $157,000 after acquiring an additional 1,900 shares during the period. Institutional investors and hedge funds own 71.72% of the company’s stock.

In other ConocoPhillips news, VP Glenda Mae Schwarz sold 18,882 shares of the business’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $71.15, for a total transaction of $1,343,454.30. Following the sale, the vice president now directly owns 29,064 shares in the company, valued at $2,067,903.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Don E. Jr. Wallette sold 59,432 shares of the business’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $71.87, for a total transaction of $4,271,377.84. Following the sale, the insider now owns 83,047 shares in the company, valued at $5,968,587.89. The disclosure for this sale can be found here. Insiders have sold 288,378 shares of company stock worth $20,769,145 over the last quarter. Insiders own 0.88% of the company’s stock.

Several research analysts have recently commented on the company. Goldman Sachs Group lowered ConocoPhillips from a “buy” rating to a “neutral” rating in a report on Monday, October 1st. Morgan Stanley lowered ConocoPhillips to a “hold” rating in a report on Tuesday, October 2nd. Citigroup lifted their price target on ConocoPhillips from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, October 5th. Zacks Investment Research upgraded ConocoPhillips from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a report on Monday, October 8th. Finally, Royal Bank of Canada lowered ConocoPhillips from an “outperform” rating to a “sector perform” rating and set a $90.00 price target on the stock. in a report on Thursday, September 20th. They noted that the move was a valuation call. Eight equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $75.53.

Shares of NYSE:COP opened at $69.50 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.82 and a current ratio of 1.99. The stock has a market cap of $78.10 billion, a price-to-earnings ratio of 115.83, a price-to-earnings-growth ratio of 1.58 and a beta of 1.22. ConocoPhillips has a 1 year low of $48.97 and a 1 year high of $80.24.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 25th. The energy producer reported $1.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.19. The company had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.48 billion. ConocoPhillips had a net margin of 16.08% and a return on equity of 14.62%. Analysts anticipate that ConocoPhillips will post 4.76 EPS for the current fiscal year.

ConocoPhillips declared that its Board of Directors has approved a share buyback program on Thursday, July 12th that authorizes the company to buyback $9.00 billion in shares. This buyback authorization authorizes the energy producer to purchase up to 10.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Monday, October 15th will be paid a dividend of $0.305 per share. The ex-dividend date of this dividend is Friday, October 12th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.29. This represents a $1.22 dividend on an annualized basis and a yield of 1.76%. ConocoPhillips’s dividend payout ratio is 203.33%.

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ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. Its portfolio includes North American tight oil and oil sands assets in Canada; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; and an inventory of conventional and unconventional exploration prospects.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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