Beirne Wealth Consulting Services LLC Purchases 18,699 Shares of ConocoPhillips $COP

Beirne Wealth Consulting Services LLC lifted its position in shares of ConocoPhillips (NYSE:COP) by 550.1% during the 3rd quarter, Holdings Channel reports. The firm owned 22,098 shares of the energy producer’s stock after purchasing an additional 18,699 shares during the quarter. Beirne Wealth Consulting Services LLC’s holdings in ConocoPhillips were worth $2,090,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of COP. Howard Hughes Medical Institute acquired a new position in ConocoPhillips during the second quarter worth approximately $25,000. Cloud Capital Management LLC acquired a new position in shares of ConocoPhillips during the 3rd quarter worth approximately $26,000. Bogart Wealth LLC increased its holdings in shares of ConocoPhillips by 136.8% during the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock worth $28,000 after acquiring an additional 182 shares during the last quarter. Cedar Mountain Advisors LLC raised its stake in ConocoPhillips by 58.0% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 316 shares of the energy producer’s stock valued at $30,000 after acquiring an additional 116 shares during the period. Finally, BNP Paribas bought a new stake in ConocoPhillips in the 2nd quarter valued at $33,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Up 0.6%

NYSE COP opened at $111.51 on Tuesday. The company has a current ratio of 1.30, a quick ratio of 1.14 and a debt-to-equity ratio of 0.35. The company has a market cap of $137.79 billion, a price-to-earnings ratio of 17.59 and a beta of 0.32. The company has a 50 day moving average of $98.71 and a 200-day moving average of $94.30. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $112.07.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 5th. The energy producer reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.21). The company had revenue of $13.86 billion for the quarter, compared to analyst estimates of $14.35 billion. ConocoPhillips had a return on equity of 11.90% and a net margin of 12.98%.The company’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.98 EPS. On average, equities research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Wednesday, February 18th will be given a $0.84 dividend. The ex-dividend date is Wednesday, February 18th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.0%. ConocoPhillips’s dividend payout ratio (DPR) is presently 53.00%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Sanford C. Bernstein decreased their price objective on shares of ConocoPhillips from $116.00 to $98.00 and set an “outperform” rating on the stock in a report on Monday, January 5th. Wolfe Research upped their price target 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. Weiss Ratings reissued a “hold (c-)” rating on shares of ConocoPhillips in a report on Monday, December 29th. Raymond James Financial boosted their price objective on ConocoPhillips from $113.00 to $118.00 and gave the stock an “outperform” rating in a report on Wednesday, February 11th. Finally, Susquehanna increased their target price on ConocoPhillips from $115.00 to $121.00 and gave the stock a “positive” rating in a research note on Friday, February 6th. Seventeen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $115.54.

Insider Buying and Selling

In other ConocoPhillips news, CEO Ryan Michael Lance sold 500,708 shares of the stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $92.50, for a total transaction of $46,315,490.00. Following the sale, the chief executive officer directly owned 325,972 shares in the company, valued at $30,152,410. This represents a 60.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.24% of the stock is currently owned by company insiders.

About ConocoPhillips

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.