Beverly Hills Private Wealth LLC increased its position in shares of ConocoPhillips (NYSE:COP – Free Report) by 58.6% in the second quarter, Holdings Channel reports. The institutional investor owned 5,915 shares of the energy producer’s stock after buying an additional 2,185 shares during the period. Beverly Hills Private Wealth LLC’s holdings in ConocoPhillips were worth $673,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Fairfield Bush & CO. bought a new stake in shares of ConocoPhillips during the 1st quarter worth approximately $31,000. Cetera Investment Advisers raised its position in ConocoPhillips by 4.0% during the first quarter. Cetera Investment Advisers now owns 25,399 shares of the energy producer’s stock worth $2,540,000 after acquiring an additional 968 shares in the last quarter. Baird Financial Group Inc. lifted its stake in ConocoPhillips by 1.9% in the first quarter. Baird Financial Group Inc. now owns 512,126 shares of the energy producer’s stock valued at $51,213,000 after acquiring an additional 9,313 shares during the last quarter. Zions Bancorporation N.A. grew its position in shares of ConocoPhillips by 59.1% in the 1st quarter. Zions Bancorporation N.A. now owns 1,810 shares of the energy producer’s stock valued at $181,000 after acquiring an additional 672 shares during the period. Finally, Brown Brothers Harriman & Co. increased its stake in shares of ConocoPhillips by 21.3% during the 1st quarter. Brown Brothers Harriman & Co. now owns 14,063 shares of the energy producer’s stock worth $1,406,000 after purchasing an additional 2,465 shares during the last quarter. Institutional investors own 80.36% of the company’s stock.
Insider Buying and Selling at ConocoPhillips
In related news, Director Sharmila Mulligan sold 1,849 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $125.19, for a total transaction of $231,476.31. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other ConocoPhillips news, Director Timothy A. Leach sold 44,000 shares of ConocoPhillips stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $114.64, for a total value of $5,044,160.00. Following the transaction, the director now owns 578,748 shares in the company, valued at $66,347,670.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Sharmila Mulligan sold 1,849 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $125.19, for a total transaction of $231,476.31. The disclosure for this sale can be found here. Insiders have sold a total of 646,049 shares of company stock valued at $78,636,116 in the last ninety days. 0.37% of the stock is currently owned by company insiders.
ConocoPhillips Stock Performance
ConocoPhillips Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Tuesday, November 14th will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 2.02%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.51. The ex-dividend date is Monday, November 13th. ConocoPhillips’s dividend payout ratio is presently 25.36%.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on the company. Erste Group Bank upgraded ConocoPhillips from a “hold” rating to a “buy” rating in a report on Friday, September 8th. Royal Bank of Canada boosted their target price on ConocoPhillips from $130.00 to $135.00 and gave the stock an “outperform” rating in a report on Tuesday. Morgan Stanley increased their price target on ConocoPhillips from $124.00 to $125.00 and gave the company an “overweight” rating in a research note on Monday, October 2nd. StockNews.com initiated coverage on shares of ConocoPhillips in a research report on Thursday, October 5th. They set a “hold” rating for the company. Finally, Susquehanna dropped their price objective on shares of ConocoPhillips from $153.00 to $152.00 and set a “positive” rating on the stock in a research report on Wednesday, October 18th. Five analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $136.35.
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.
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