Alhambra Investment Management LLC Purchases 788 Shares of ConocoPhillips (NYSE:COP)

Alhambra Investment Management LLC lifted its holdings in ConocoPhillips (NYSE:COP) by 38.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,815 shares of the energy producer’s stock after purchasing an additional 788 shares during the period. Alhambra Investment Management LLC’s holdings in ConocoPhillips were worth $279,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Cypress Capital Group raised its stake in shares of ConocoPhillips by 0.5% in the third quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock worth $1,978,000 after buying an additional 96 shares during the period. Aprio Wealth Management LLC increased its holdings in ConocoPhillips by 4.8% in the 3rd quarter. Aprio Wealth Management LLC now owns 2,125 shares of the energy producer’s stock worth $224,000 after acquiring an additional 97 shares in the last quarter. Godshalk Welsh Capital Management Inc. raised its stake in ConocoPhillips by 1.2% during the 2nd quarter. Godshalk Welsh Capital Management Inc. now owns 8,751 shares of the energy producer’s stock worth $1,001,000 after acquiring an additional 100 shares during the period. Smithfield Trust Co lifted its holdings in ConocoPhillips by 3.3% during the third quarter. Smithfield Trust Co now owns 3,132 shares of the energy producer’s stock valued at $332,000 after purchasing an additional 100 shares in the last quarter. Finally, Ignite Planners LLC boosted its position in shares of ConocoPhillips by 1.0% in the third quarter. Ignite Planners LLC now owns 10,001 shares of the energy producer’s stock worth $1,053,000 after purchasing an additional 102 shares during the period. 82.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

COP has been the topic of several recent analyst reports. BMO Capital Markets raised their price objective on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Barclays raised their price target on ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $132.00 to $134.00 in a research note on Monday, December 16th. TD Cowen assumed coverage on ConocoPhillips in a research note on Friday. They set a “buy” rating and a $125.00 target price on the stock. Finally, Wells Fargo & Company lowered their price target on ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating on the stock in a report on Tuesday. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, ConocoPhillips currently has a consensus rating of “Buy” and a consensus price target of $136.00.

Insider Activity

In other ConocoPhillips news, Director Arjun N. Murti purchased 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was purchased at an average cost of $95.87 per share, with a total value of $239,675.00. Following the purchase, the director now owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. The trade was a 13.16 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director R A. Walker acquired 10,400 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was acquired at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the transaction, the director now directly owns 38,000 shares in the company, valued at $3,716,400. The trade was a 37.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Up 0.1 %

Shares of NYSE:COP opened at $105.76 on Friday. The company has a market cap of $121.72 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 0.81 and a beta of 1.19. ConocoPhillips has a 12 month low of $94.23 and a 12 month high of $135.18. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. The company has a 50-day moving average price of $103.91 and a 200 day moving average price of $107.53.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.10. The business had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same period last year, the company earned $2.16 EPS. As a group, equities research analysts predict that ConocoPhillips will post 7.7 earnings per share for the current year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were given a dividend of $0.78 per share. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a yield of 2.95%. ConocoPhillips’s payout ratio is 37.10%.

ConocoPhillips 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.