AE Wealth Management LLC Acquires 53,587 Shares of ConocoPhillips $COP

AE Wealth Management LLC increased its holdings in shares of ConocoPhillips (NYSE:COP) by 107.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,430 shares of the energy producer’s stock after buying an additional 53,587 shares during the period. AE Wealth Management LLC’s holdings in ConocoPhillips were worth $9,783,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Financial Security Advisor Inc. grew its holdings in ConocoPhillips by 12.0% during the 3rd quarter. Financial Security Advisor Inc. now owns 4,026 shares of the energy producer’s stock worth $381,000 after acquiring an additional 431 shares during the period. Stack Financial Management Inc boosted its position in shares of ConocoPhillips by 0.4% in the 3rd quarter. Stack Financial Management Inc now owns 185,468 shares of the energy producer’s stock worth $17,543,000 after purchasing an additional 707 shares during the last quarter. Great Lakes Advisors LLC boosted its position in shares of ConocoPhillips by 5.6% in the 3rd quarter. Great Lakes Advisors LLC now owns 1,047,732 shares of the energy producer’s stock worth $99,105,000 after purchasing an additional 55,901 shares during the last quarter. Flossbach Von Storch SE grew its stake in shares of ConocoPhillips by 0.9% during the third quarter. Flossbach Von Storch SE now owns 97,856 shares of the energy producer’s stock worth $9,256,000 after purchasing an additional 890 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC increased its holdings in ConocoPhillips by 19.8% in the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 14,761 shares of the energy producer’s stock valued at $1,396,000 after purchasing an additional 2,444 shares during the last quarter. 82.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on COP shares. UBS Group raised their target price on ConocoPhillips from $117.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, December 12th. Jefferies Financial Group reiterated a “buy” rating on shares of ConocoPhillips in a research report on Monday, December 15th. Raymond James Financial boosted their price objective on shares of ConocoPhillips from $98.00 to $113.00 and gave the company an “outperform” rating in a report on Thursday, January 22nd. Wolfe Research upped their target price on shares of ConocoPhillips from $122.00 to $123.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Finally, Sanford C. Bernstein reduced their price target on shares of ConocoPhillips from $116.00 to $98.00 and set an “outperform” rating on the stock in a research report on Monday, January 5th. Sixteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $110.96.

Insider Transactions at ConocoPhillips

In other news, Director William H. Mcraven bought 5,768 shares of the stock in a transaction on Monday, November 10th. The stock was purchased at an average price of $86.68 per share, for a total transaction of $499,970.24. Following the acquisition, the director owned 5,768 shares in the company, valued at approximately $499,970.24. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Ryan Michael Lance sold 500,708 shares of the business’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $92.50, for a total value of $46,315,490.00. Following the completion of the sale, the chief executive officer owned 325,972 shares in the company, valued at approximately $30,152,410. This trade represents a 60.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.24% of the stock is currently owned by corporate insiders.

Trending Headlines about ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Federal judge cleared ConocoPhillips to proceed with its winter drilling program in Alaska, reducing near-term legal uncertainty that could have delayed production and spending. Federal judge rules that ConocoPhillips can proceed with winter drilling program
• Positive Sentiment: Regulatory clearance was echoed in coverage that a judge “green-lit” COP’s Alaska drilling program, further lowering execution risk for Arctic activity. Judge green-lights ConocoPhillips Alaska oil drilling program
• Positive Sentiment: Geopolitical risk has pushed oil prices higher (Iran/strait-of-Hormuz concerns), which benefits integrated E&P names like ConocoPhillips through stronger commodity realizations and cash flow. Oil Rallies On Iran War Fears – 5 Integrated Energy Giants With Big Dividends
• Neutral Sentiment: ConocoPhillips says its plans for four new Arctic wells are unaffected by the toppled rig, which suggests management expects limited near-term disruption to the development schedule. ConocoPhillips’ plans for 4 new Arctic wells unaffected by toppled rig, company says
• Neutral Sentiment: Coverage notes the company called the Doyon rig destruction “a sad day” but downplayed major impacts; investors should watch for official damage/insurance updates. ConocoPhillips execs call Doyon oil rig destruction a ‘sad day,’ but no major impacts expected
• Negative Sentiment: An Arctic rig toppled and ignited a fire — an operational and reputational risk that could lead to added costs, regulatory scrutiny or delays if follow-up inspections or litigation arise. Monitor incident reports and any updates from regulators. As an Oil Rig Topples in the Alaskan Arctic and Ignites a Fire, Exploration There Continues
• Negative Sentiment: Analysts expect a year-over-year earnings decline for the upcoming quarter, which could cap near-term upside if results miss expectations or guidance is cautious. Analysts Estimate ConocoPhillips (COP) to Report a Decline in Earnings: What to Look Out for

ConocoPhillips Price Performance

NYSE COP opened at $104.25 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.18 and a current ratio of 1.32. The stock has a market cap of $128.82 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 3.26 and a beta of 0.32. The business has a 50 day simple moving average of $94.70 and a 200 day simple moving average of $93.25. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $106.20.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, November 6th. The energy producer reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.20. The firm had revenue of $15.03 billion for the quarter, compared to analyst estimates of $14.51 billion. ConocoPhillips had a net margin of 14.25% and a return on equity of 13.64%. During the same quarter in the previous year, the firm posted $1.78 earnings per share. The business’s revenue was up 14.1% on a year-over-year basis. Analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, November 17th were paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Monday, November 17th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.78. ConocoPhillips’s dividend payout ratio (DPR) is currently 47.52%.

ConocoPhillips Company Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.