Cornerstone Wealth Management LLC Sells 1,186 Shares of ConocoPhillips (NYSE:COP)

Cornerstone Wealth Management LLC cut its holdings in shares of ConocoPhillips (NYSE:COPFree Report) by 8.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,385 shares of the energy producer’s stock after selling 1,186 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in ConocoPhillips were worth $1,554,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Norris Perne & French LLP MI boosted its stake in shares of ConocoPhillips by 1.9% during the 3rd quarter. Norris Perne & French LLP MI now owns 4,364 shares of the energy producer’s stock valued at $523,000 after purchasing an additional 80 shares in the last quarter. Sloy Dahl & Holst LLC lifted its position in ConocoPhillips by 3.3% during the third quarter. Sloy Dahl & Holst LLC now owns 2,629 shares of the energy producer’s stock valued at $315,000 after buying an additional 85 shares during the period. Mascoma Wealth Management LLC grew its position in shares of ConocoPhillips by 35.9% in the 3rd quarter. Mascoma Wealth Management LLC now owns 333 shares of the energy producer’s stock worth $40,000 after buying an additional 88 shares during the period. CRA Financial Services LLC increased its stake in shares of ConocoPhillips by 1.9% in the 3rd quarter. CRA Financial Services LLC now owns 4,702 shares of the energy producer’s stock worth $563,000 after acquiring an additional 89 shares in the last quarter. Finally, KLCM Advisors Inc. lifted its position in ConocoPhillips by 2.8% during the 3rd quarter. KLCM Advisors Inc. now owns 3,305 shares of the energy producer’s stock valued at $396,000 after acquiring an additional 89 shares during the period. Institutional investors and hedge funds own 80.36% of the company’s stock.

Insider Transactions at ConocoPhillips

In related news, SVP Heather G. Hrap sold 4,548 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total transaction of $502,781.40. Following the sale, the senior vice president now owns 2,654 shares of the company’s stock, valued at $293,399.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other ConocoPhillips news, VP Christopher P. Delk sold 8,505 shares of ConocoPhillips stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total transaction of $953,070.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Heather G. Hrap sold 4,548 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total transaction of $502,781.40. Following the completion of the sale, the senior vice president now directly owns 2,654 shares in the company, valued at approximately $293,399.70. The disclosure for this sale can be found here. Insiders have sold 36,425 shares of company stock valued at $4,077,489 in the last ninety days. Corporate insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on COP. Johnson Rice downgraded shares of ConocoPhillips from an “accumulate” rating to a “hold” rating in a research note on Thursday, December 14th. Mizuho cut their target price on ConocoPhillips from $139.00 to $132.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 3rd. Susquehanna lowered their price target on ConocoPhillips from $152.00 to $133.00 and set a “positive” rating for the company in a research report on Friday, January 26th. UBS Group increased their price objective on shares of ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Finally, Raymond James cut their price target on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $134.61.

View Our Latest Stock Report on ConocoPhillips

ConocoPhillips Trading Up 0.2 %

Shares of COP stock opened at $120.04 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.29 and a current ratio of 1.43. The stock has a fifty day simple moving average of $111.85 and a two-hundred day simple moving average of $115.94. The firm has a market capitalization of $141.22 billion, a PE ratio of 13.25, a PEG ratio of 0.73 and a beta of 1.23. ConocoPhillips has a 52-week low of $91.53 and a 52-week high of $127.35.

ConocoPhillips (NYSE:COPGet Free Report) last posted 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 company had revenue of $15.31 billion during the quarter, compared to analysts’ expectations of $14.47 billion. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. During the same period last year, the company posted $2.71 earnings per share. On average, analysts predict that ConocoPhillips will post 8.82 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were paid a $0.78 dividend. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $3.12 dividend on an annualized basis and a yield of 2.60%. ConocoPhillips’s payout ratio is presently 25.61%.

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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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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