Axxcess Wealth Management LLC Has $3.95 Million Position in ConocoPhillips (NYSE:COP)

Axxcess Wealth Management LLC lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 17.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,779 shares of the energy producer’s stock after buying an additional 5,912 shares during the period. Axxcess Wealth Management LLC’s holdings in ConocoPhillips were worth $3,945,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Cypress Capital Group boosted its position in ConocoPhillips by 0.5% during the third quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock valued at $1,978,000 after purchasing an additional 96 shares during the last quarter. Orrstown Financial Services Inc. raised its stake in shares of ConocoPhillips by 3.0% during the 4th quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer’s stock worth $331,000 after purchasing an additional 96 shares in the last quarter. Smithfield Trust Co boosted its holdings in shares of ConocoPhillips by 3.3% in the 3rd quarter. Smithfield Trust Co now owns 3,132 shares of the energy producer’s stock valued at $332,000 after buying an additional 100 shares during the last quarter. Principle Wealth Partners LLC grew its stake in shares of ConocoPhillips by 0.3% in the fourth quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer’s stock valued at $3,695,000 after buying an additional 100 shares in the last quarter. Finally, Arlington Trust Co LLC increased its holdings in ConocoPhillips by 1.2% during the fourth quarter. Arlington Trust Co LLC now owns 8,640 shares of the energy producer’s stock worth $857,000 after buying an additional 102 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of NYSE:COP opened at $100.51 on Wednesday. ConocoPhillips has a 12-month low of $86.81 and a 12-month high of $135.18. The company’s 50 day moving average price is $99.19 and its two-hundred day moving average price is $103.56. The firm has a market cap of $127.88 billion, a PE ratio of 12.90, a PEG ratio of 0.79 and a beta of 1.12. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. Equities research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.10%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s dividend payout ratio (DPR) is currently 40.05%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on COP. JPMorgan Chase & Co. cut their price target on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Wells Fargo & Company reduced their price target on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Morgan Stanley began coverage on ConocoPhillips in a research note on Monday, December 16th. They issued an “overweight” rating and a $128.00 price objective on the stock. Raymond James downgraded ConocoPhillips from a “strong-buy” rating to an “outperform” rating and reduced their target price for the stock from $157.00 to $124.00 in a research note on Monday, February 10th. Finally, 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 note on Monday, December 16th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.05.

Insider Buying and Selling

In other news, Director Arjun N. Murti acquired 2,500 shares of ConocoPhillips stock in a transaction on Friday, December 20th. The shares were purchased at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the purchase, the director now directly owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. This represents a 13.16 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.34% of the stock is owned by company insiders.

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.