WealthPlan Investment Management LLC Invests $441,000 in ConocoPhillips (NYSE:COP)

WealthPlan Investment Management LLC purchased a new stake in ConocoPhillips (NYSE:COPFree Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,685 shares of the energy producer’s stock, valued at approximately $441,000.

Other large investors have also recently modified their holdings of the company. Norris Perne & French LLP MI boosted its position in ConocoPhillips by 1.9% in the 3rd quarter. Norris Perne & French LLP MI now owns 4,364 shares of the energy producer’s stock valued at $523,000 after buying an additional 80 shares during the period. Tevis Investment Management lifted its position in shares of ConocoPhillips by 2.7% during the 2nd quarter. Tevis Investment Management now owns 3,294 shares of the energy producer’s stock worth $341,000 after purchasing an additional 87 shares during the last quarter. Mascoma Wealth Management LLC lifted its position in shares of ConocoPhillips by 35.9% during the 3rd quarter. Mascoma Wealth Management LLC now owns 333 shares of the energy producer’s stock worth $40,000 after purchasing an additional 88 shares during the last quarter. CRA Financial Services LLC lifted its position in shares of ConocoPhillips by 1.9% during the 3rd quarter. CRA Financial Services LLC now owns 4,702 shares of the energy producer’s stock worth $563,000 after purchasing an additional 89 shares during the last quarter. Finally, Endowment Wealth Management Inc. lifted its position in shares of ConocoPhillips by 4.6% during the 3rd quarter. Endowment Wealth Management Inc. now owns 2,055 shares of the energy producer’s stock worth $246,000 after purchasing an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 80.36% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on COP shares. Mizuho decreased their price objective on shares of ConocoPhillips from $139.00 to $132.00 and set a “neutral” rating for the company in a research report on Wednesday, January 3rd. UBS Group decreased their price objective on shares of ConocoPhillips from $149.00 to $138.00 and set a “buy” rating for the company in a research report on Thursday, December 14th. Johnson Rice lowered shares of ConocoPhillips from an “accumulate” rating to a “hold” rating in a research note on Thursday, December 14th. Susquehanna cut their price target on shares of ConocoPhillips from $152.00 to $133.00 and set a “positive” rating on the stock in a research note on Friday, January 26th. Finally, JPMorgan Chase & Co. cut their price target on shares of ConocoPhillips from $153.00 to $141.00 and set a “neutral” rating on the stock in a research note on Friday, December 8th. Six analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.33.

Read Our Latest Research Report on COP

ConocoPhillips Stock Down 2.4 %

Shares of NYSE:COP opened at $111.16 on Monday. The company has a market cap of $131.99 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 0.65 and a beta of 1.24. The firm’s 50-day simple moving average is $113.10 and its 200-day simple moving average is $116.55. The company has a quick ratio of 1.53, a current ratio of 1.43 and a debt-to-equity ratio of 0.36. ConocoPhillips has a fifty-two week low of $91.53 and a fifty-two week high of $127.35.

ConocoPhillips (NYSE:COPGet Free Report) last issued its earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.32. The business had revenue of $15.31 billion for the quarter, compared to the consensus estimate of $14.47 billion. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. During the same quarter in the previous year, the firm earned $2.71 earnings per share. As a group, equities research analysts predict that ConocoPhillips will post 9.45 earnings per share for the current year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Monday, February 19th will be issued a $0.78 dividend. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date is Thursday, February 15th. This represents a $3.12 annualized dividend and a dividend yield of 2.81%. ConocoPhillips’s payout ratio is presently 25.61%.

About ConocoPhillips

(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 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.

Further Reading

Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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