Edge Capital Group LLC Increases Stake in ConocoPhillips (NYSE:COP)

Edge Capital Group LLC increased its holdings in ConocoPhillips (NYSE:COPFree Report) by 14.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,244 shares of the energy producer’s stock after purchasing an additional 2,843 shares during the quarter. Edge Capital Group LLC’s holdings in ConocoPhillips were worth $2,582,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Orion Capital Management LLC purchased a new stake in ConocoPhillips during the 3rd quarter valued at $27,000. West Branch Capital LLC lifted its holdings in ConocoPhillips by 87.8% in the 4th quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock worth $27,000 after buying an additional 108 shares during the period. Sachetta LLC bought a new stake in shares of ConocoPhillips in the 4th quarter worth approximately $27,000. Cape Investment Advisory Inc. increased its stake in shares of ConocoPhillips by 96.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock valued at $29,000 after buying an additional 121 shares during the period. Finally, Oliver Lagore Vanvalin Investment Group raised its holdings in shares of ConocoPhillips by 63.1% during the third quarter. Oliver Lagore Vanvalin Investment Group now owns 287 shares of the energy producer’s stock valued at $34,000 after acquiring an additional 111 shares in the last quarter. 82.36% of the stock is owned by institutional investors.

Insider Transactions at ConocoPhillips

In related news, CFO William L. Jr. Bullock sold 45,200 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $123.32, for a total transaction of $5,574,064.00. Following the completion of the transaction, the chief financial officer now directly owns 44,153 shares in the company, valued at approximately $5,444,947.96. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Nicholas G. Olds sold 12,150 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the completion of the transaction, the executive vice president now owns 14,522 shares in the company, valued at $1,836,161.68. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO William L. Jr. Bullock sold 45,200 shares of ConocoPhillips stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $123.32, for a total transaction of $5,574,064.00. Following the completion of the sale, the chief financial officer now owns 44,153 shares in the company, valued at $5,444,947.96. The disclosure for this sale can be found here. Insiders have sold 664,350 shares of company stock worth $83,537,680 in the last 90 days. 0.34% of the stock is currently owned by insiders.

ConocoPhillips Trading Down 0.0 %

Shares of NYSE:COP opened at $112.22 on Thursday. ConocoPhillips has a 1 year low of $99.35 and a 1 year high of $135.18. The stock’s fifty day moving average price is $124.52 and its 200-day moving average price is $117.77. The company has a market cap of $131.24 billion, a P/E ratio of 12.71, a PEG ratio of 2.51 and a beta of 1.22. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.35 and a quick ratio of 1.21.

ConocoPhillips (NYSE:COPGet Free Report) last released its quarterly earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.04. The firm had revenue of $14.48 billion for the quarter, compared to the consensus estimate of $14.72 billion. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. Sell-side analysts expect that ConocoPhillips will post 8.93 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were issued a dividend of $0.78 per share. The ex-dividend date was Friday, May 10th. This represents a $3.12 dividend on an annualized basis and a yield of 2.78%. ConocoPhillips’s dividend payout ratio is currently 26.27%.

Analysts Set New Price Targets

COP has been the topic of several recent analyst reports. Royal Bank of Canada lifted their price target on shares of ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, May 15th. Wells Fargo & Company boosted their price target on shares of ConocoPhillips from $149.00 to $151.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. UBS Group raised their price objective on shares of ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Raymond James reissued a “strong-buy” rating and issued a $159.00 target price (up previously from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Finally, Barclays upped their price target on ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $144.35.

Get Our Latest Research Report 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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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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