Welch Group LLC Sells 1,014 Shares of ConocoPhillips (NYSE:COP)

Welch Group LLC trimmed its position in ConocoPhillips (NYSE:COP) by 9.7% during the 4th quarter, HoldingsChannel reports. The firm owned 9,428 shares of the energy producer’s stock after selling 1,014 shares during the quarter. Welch Group LLC’s holdings in ConocoPhillips were worth $915,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Albion Financial Group UT increased its stake in ConocoPhillips by 876.9% in the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after purchasing an additional 228 shares during the period. Values First Advisors Inc. bought a new stake in ConocoPhillips during the third quarter valued at about $26,000. Reston Wealth Management LLC purchased a new position in shares of ConocoPhillips in the 3rd quarter worth approximately $31,000. Truvestments Capital LLC purchased a new position in ConocoPhillips in the third quarter worth $31,000. Finally, Global Wealth Strategies & Associates increased its position in ConocoPhillips by 80.5% during the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after buying an additional 153 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on COP shares. Wells Fargo & Company decreased their target price on ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating for the company in a report on Tuesday, January 14th. Barclays upped their price target on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. JPMorgan Chase & Co. raised shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $120.00 to $123.00 in a research note on Thursday, December 5th. Evercore ISI reissued an “outperform” rating and issued a $165.00 price objective on shares of ConocoPhillips in a research note on Friday, December 6th. Finally, Susquehanna boosted their target price on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $135.89.

Insiders Place Their Bets

In other ConocoPhillips news, Director Arjun N. Murti bought 2,500 shares of ConocoPhillips stock in a transaction that occurred on Friday, December 20th. The shares were acquired 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 $2,061,205. The trade was a 13.16 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director R A. Walker bought 10,400 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was bought at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the transaction, the director now directly owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. This trade represents a 37.68 % 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.

ConocoPhillips Trading Down 0.4 %

Shares of COP stock opened at $98.47 on Tuesday. ConocoPhillips has a twelve month low of $94.23 and a twelve month high of $135.18. The firm has a 50-day moving average price of $101.82 and a 200 day moving average price of $106.59. The company has a market capitalization of $113.33 billion, a price-to-earnings ratio of 11.71, a PEG ratio of 0.76 and a beta of 1.18. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34.

About ConocoPhillips

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.