WCG Wealth Advisors LLC Acquires 29,553 Shares of ConocoPhillips $COP

WCG Wealth Advisors LLC grew its stake in shares of ConocoPhillips (NYSE:COP) by 124.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 53,344 shares of the energy producer’s stock after purchasing an additional 29,553 shares during the period. WCG Wealth Advisors LLC’s holdings in ConocoPhillips were worth $4,994,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Phillips Wealth Planners LLC lifted its stake in ConocoPhillips by 5.7% during the 4th quarter. Phillips Wealth Planners LLC now owns 2,316 shares of the energy producer’s stock valued at $225,000 after acquiring an additional 125 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of ConocoPhillips by 47.5% in the 4th quarter. CIBC Asset Management Inc now owns 340,699 shares of the energy producer’s stock worth $31,893,000 after acquiring an additional 109,771 shares in the last quarter. Marble Wealth LLC purchased a new position in ConocoPhillips during the fourth quarter worth about $3,137,000. Bruce G. Allen Investments LLC grew its position in ConocoPhillips by 9.9% in the 4th quarter. Bruce G. Allen Investments LLC now owns 1,521 shares of the energy producer’s stock worth $142,000 after purchasing an additional 137 shares in the last quarter. Finally, Westpac Banking Corp grew its position in ConocoPhillips by 12.6% in the 4th quarter. Westpac Banking Corp now owns 12,154 shares of the energy producer’s stock worth $1,138,000 after purchasing an additional 1,363 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, SVP Kelly Brunetti Rose sold 7,700 shares of ConocoPhillips stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $130.03, for a total transaction of $1,001,231.00. Following the completion of the sale, the senior vice president directly owned 25,284 shares of the company’s stock, valued at $3,287,678.52. The trade was a 23.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ryan Michael Lance sold 113,221 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $132.71, for a total transaction of $15,025,558.91. Following the transaction, the chief executive officer directly owned 350,000 shares in the company, valued at approximately $46,448,500. The trade was a 24.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 694,891 shares of company stock valued at $88,594,092. Corporate insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

COP has been the topic of several recent analyst reports. Wall Street Zen raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Citigroup increased their price target on shares of ConocoPhillips from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Capital One Financial decreased their price objective on ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating for the company in a report on Monday, May 18th. Jefferies Financial Group raised their price objective on ConocoPhillips from $160.00 to $161.00 and gave the company a “buy” rating in a report on Monday, May 18th. Finally, Sanford C. Bernstein boosted their price objective on shares of ConocoPhillips from $98.00 to $121.00 and gave the company an “outperform” rating in a research report on Monday, April 13th. Seventeen equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $134.48.

ConocoPhillips Stock Performance

COP opened at $119.03 on Friday. ConocoPhillips has a 12-month low of $85.23 and a 12-month high of $135.87. The company’s 50 day moving average is $122.32 and its 200 day moving average is $109.38. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. The company has a market cap of $145.01 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 1.32 and a beta of 0.11.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.17. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The business had revenue of $15.76 billion during the quarter, compared to analysts’ expectations of $15.62 billion. During the same quarter last year, the business posted $2.09 EPS. The firm’s revenue for the quarter was down 6.1% compared to the same quarter last year. On average, equities research analysts predict that ConocoPhillips will post 10.03 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were given a $0.84 dividend. The ex-dividend date was Monday, May 11th. This represents a $3.36 annualized dividend and a yield of 2.8%. ConocoPhillips’s dividend payout ratio (DPR) is currently 57.05%.

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.