SVB Wealth LLC Acquires 3,466 Shares of ConocoPhillips (NYSE:COP)

SVB Wealth LLC raised its stake in shares of ConocoPhillips (NYSE:COP) by 16.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 24,464 shares of the energy producer’s stock after purchasing an additional 3,466 shares during the quarter. SVB Wealth LLC’s holdings in ConocoPhillips were worth $2,840,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Capital Investment Counsel Inc purchased a new stake in ConocoPhillips in the third quarter worth approximately $228,000. Columbia Trust Co 01012016 boosted its stake in shares of ConocoPhillips by 1.2% in the 4th quarter. Columbia Trust Co 01012016 now owns 9,463 shares of the energy producer’s stock worth $1,098,000 after buying an additional 112 shares during the last quarter. Raymond James & Associates grew its holdings in shares of ConocoPhillips by 1.5% in the fourth quarter. Raymond James & Associates now owns 1,563,044 shares of the energy producer’s stock worth $181,422,000 after acquiring an additional 23,572 shares during the period. Syon Capital LLC purchased a new stake in ConocoPhillips during the third quarter valued at $2,262,000. Finally, PFG Investments LLC purchased a new position in ConocoPhillips in the third quarter worth about $233,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on COP shares. Morgan Stanley upped their price target on shares of ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Raymond James cut their price objective on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. UBS Group raised their target price on ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Wells Fargo & Company boosted their price target on ConocoPhillips from $141.00 to $149.00 and gave the company an “overweight” rating in a report on Wednesday, April 10th. Finally, Mizuho reaffirmed a “neutral” rating and issued a $139.00 price objective (up previously from $132.00) on shares of ConocoPhillips in a research note on Friday, March 22nd. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and an average target price of $140.59.

ConocoPhillips Trading Down 0.9 %

COP stock opened at $128.31 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.29. The business has a 50 day simple moving average of $119.92 and a two-hundred day simple moving average of $117.01. ConocoPhillips has a 1-year low of $95.70 and a 1-year high of $135.18. The company has a market capitalization of $150.95 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 2.77 and a beta of 1.24.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.32. The firm had revenue of $15.31 billion for the quarter, compared to analysts’ expectations of $14.47 billion. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. During the same period in the prior year, the business posted $2.71 earnings per share. Research analysts anticipate that ConocoPhillips will post 9.35 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were issued a $0.78 dividend. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.43%. ConocoPhillips’s payout ratio is presently 25.61%.

Insider Buying and Selling

In other ConocoPhillips news, CEO Ryan Michael Lance sold 607,000 shares of ConocoPhillips stock in a transaction on Monday, March 25th. The stock was sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the completion of the sale, the chief executive officer now directly owns 6,780 shares of the company’s stock, valued at approximately $853,669.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other ConocoPhillips news, CEO Ryan Michael Lance sold 607,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the transaction, the chief executive officer now owns 6,780 shares of the company’s stock, valued at approximately $853,669.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Heather G. Hrap sold 4,548 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $110.55, for a total transaction of $502,781.40. Following the completion of the sale, the senior vice president now directly owns 2,654 shares of the company’s stock, valued at approximately $293,399.70. The disclosure for this sale can be found here. Insiders have sold a total of 700,775 shares of company stock valued at $87,615,169 over the last quarter. 0.34% of the stock is owned by corporate insiders.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.