ConocoPhillips (NYSE:COP) Shares Acquired by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC boosted its position in ConocoPhillips (NYSE:COP) by 14.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,013 shares of the energy producer’s stock after purchasing an additional 3,402 shares during the period. Kingsview Wealth Management LLC’s holdings in ConocoPhillips were worth $2,679,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in COP. Values First Advisors Inc. bought a new position in ConocoPhillips during the third quarter valued at about $26,000. Albion Financial Group UT lifted its holdings in ConocoPhillips by 876.9% in the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after acquiring an additional 228 shares during the last quarter. Reston Wealth Management LLC acquired a new position in shares of ConocoPhillips in the 3rd quarter worth approximately $31,000. Truvestments Capital LLC bought a new stake in shares of ConocoPhillips in the 3rd quarter worth approximately $31,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in ConocoPhillips during the third quarter valued at approximately $35,000. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Stock Performance

Shares of COP stock opened at $98.34 on Monday. ConocoPhillips has a fifty-two week low of $94.23 and a fifty-two week high of $135.18. The stock’s 50-day moving average is $101.05 and its two-hundred day moving average is $106.15. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.16. The firm has a market cap of $113.18 billion, a P/E ratio of 12.62, a PEG ratio of 0.77 and a beta of 1.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. Analysts predict that ConocoPhillips will post 8.3 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 17th will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.17%. The ex-dividend date is Friday, February 14th. ConocoPhillips’s payout ratio is 40.05%.

Insider Buying and Selling at ConocoPhillips

In related news, Director R A. Walker acquired 10,400 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The shares were acquired at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the purchase, the director now owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. The trade was a 37.68 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arjun N. Murti purchased 2,500 shares of the stock in a transaction on Friday, December 20th. The shares were bought at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the acquisition, 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 disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. TD Cowen started coverage on shares of ConocoPhillips in a research report on Friday, January 17th. They issued a “buy” rating and a $125.00 price target on the stock. Barclays boosted their target price on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and increased their price target for the company from $132.00 to $134.00 in a research report on Monday, December 16th. Evercore ISI restated an “outperform” rating and set a $165.00 price objective on shares of ConocoPhillips in a report on Friday, December 6th. Finally, Raymond James raised their target price on shares of ConocoPhillips from $148.00 to $157.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $135.89.

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.