Genesis Private Wealth LLC Takes $267,000 Position in ConocoPhillips (NYSE:COP)

by · The Markets Daily

Genesis Private Wealth LLC purchased a new stake in shares of ConocoPhillips (NYSE:COPFree Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,697 shares of the energy producer’s stock, valued at approximately $267,000.

Several other institutional investors and hedge funds also recently bought and sold shares of COP. Values First Advisors Inc. purchased a new stake in shares of ConocoPhillips in the third quarter valued at $26,000. Reston Wealth Management LLC purchased a new stake in ConocoPhillips in the 3rd quarter worth about $31,000. Truvestments Capital LLC bought a new stake in ConocoPhillips in the third quarter worth about $31,000. Global Wealth Strategies & Associates lifted its stake in ConocoPhillips by 80.5% in the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after purchasing an additional 153 shares during the last quarter. Finally, RPg Family Wealth Advisory LLC bought a new position in shares of ConocoPhillips during the third quarter valued at approximately $35,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ConocoPhillips

In other news, Director R A. Walker bought 10,400 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, December 17th. The stock was bought at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the purchase, the director now directly owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. The trade was a 37.68 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Arjun N. Murti acquired 2,500 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was purchased at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the acquisition, the director now directly owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. This trade represents a 13.16 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by corporate insiders.

ConocoPhillips Stock Performance

COP stock opened at $104.25 on Wednesday. ConocoPhillips has a one year low of $94.23 and a one year high of $135.18. The firm has a market cap of $119.98 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 0.88 and a beta of 1.19. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The firm has a 50-day simple moving average of $103.67 and a two-hundred day simple moving average of $107.31.

ConocoPhillips (NYSE:COPGet Free Report) last announced its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The company had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. During the same period last year, the firm earned $2.16 earnings per share. ConocoPhillips’s revenue was down 8.5% compared to the same quarter last year. On average, equities analysts forecast that ConocoPhillips will post 7.68 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.99%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, November 8th. ConocoPhillips’s payout ratio is 37.10%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on COP. Wells Fargo & Company decreased their price target on ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th. Morgan Stanley began coverage on shares of ConocoPhillips in a report on Monday, December 16th. They issued an “overweight” rating and a $128.00 price target on the stock. Susquehanna lifted their price objective on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a report on Friday, November 1st. JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $120.00 to $123.00 in a research note on Thursday, December 5th. Finally, TD Cowen began coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They set a “buy” rating and a $125.00 price target for the company. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, ConocoPhillips currently has a consensus rating of “Buy” and an average target price of $136.00.

Read Our Latest Stock Analysis on COP

ConocoPhillips Profile

(Free Report)

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.

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