Motco boosted its position in ConocoPhillips (NYSE:COP) by 50.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,344 shares of the energy producer’s stock after buying an additional 1,122 shares during the period. Motco’s holdings in ConocoPhillips were worth $217,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. increased its position in shares of ConocoPhillips by 4.0% during the second quarter. BlackRock Inc. now owns 79,994,496 shares of the energy producer’s stock valued at $4,879,663,000 after acquiring an additional 3,103,095 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of ConocoPhillips in the third quarter valued at $265,000. Mission Wealth Management LP boosted its holdings in ConocoPhillips by 3.9% in the third quarter. Mission Wealth Management LP now owns 11,639 shares of the energy producer’s stock valued at $663,000 after purchasing an additional 440 shares during the period. Wealthcare Advisory Partners LLC boosted its holdings in ConocoPhillips by 2.2% in the third quarter. Wealthcare Advisory Partners LLC now owns 10,845 shares of the energy producer’s stock valued at $618,000 after purchasing an additional 237 shares during the period. Finally, Nisa Investment Advisors LLC grew its stake in ConocoPhillips by 6.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 490,999 shares of the energy producer’s stock worth $27,977,000 after purchasing an additional 29,374 shares in the last quarter. 71.50% of the stock is owned by institutional investors and hedge funds.
NYSE:COP opened at $58.62 on Friday. ConocoPhillips has a 12-month low of $50.13 and a 12-month high of $71.01. The company has a current ratio of 2.40, a quick ratio of 2.26 and a debt-to-equity ratio of 0.42. The stock’s 50 day simple moving average is $62.80 and its 200-day simple moving average is $58.56. The firm has a market cap of $64.32 billion, a P/E ratio of 9.17, a PEG ratio of 2.96 and a beta of 1.11.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Friday, February 14th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $1.68 dividend on an annualized basis and a yield of 2.87%. ConocoPhillips’s payout ratio is currently 46.80%.
ConocoPhillips declared that its board has initiated a stock repurchase program on Tuesday, February 4th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the energy producer to purchase up to 15.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.
A number of equities research analysts have issued reports on COP shares. Scotiabank lowered ConocoPhillips from a “sector outperform” rating to a “sector perform” rating and set a $74.00 price target on the stock. in a research report on Thursday, January 23rd. Wells Fargo & Co reissued a “buy” rating on shares of ConocoPhillips in a research report on Tuesday, November 19th. Capital One Financial initiated coverage on ConocoPhillips in a research report on Tuesday. They set an “overweight” rating and a $70.00 price objective for the company. MKM Partners assumed coverage on shares of ConocoPhillips in a research note on Thursday, December 5th. They set a “buy” rating and a $72.00 target price on the stock. Finally, Susquehanna Bancshares assumed coverage on shares of ConocoPhillips in a report on Tuesday, January 14th. They issued a “positive” rating and a $80.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. ConocoPhillips has an average rating of “Buy” and a consensus target price of $74.38.
In other news, President William L. Jr. Bullock sold 25,628 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $63.17, for a total value of $1,618,920.76. Following the completion of the sale, the president now owns 32,926 shares in the company, valued at approximately $2,079,935.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.66% of the stock is currently owned by company insiders.
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.
See Also: Percentage Decliners
Want to see what other hedge funds are holding COP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ConocoPhillips (NYSE:COP).
Receive News & Ratings for ConocoPhillips Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ConocoPhillips and related companies with MarketBeat.com's FREE daily email newsletter.