Legacy Wealth Management LLC MS Has $1.07 Million Stock Position in ConocoPhillips $COP

Legacy Wealth Management LLC MS lowered its stake in ConocoPhillips (NYSE:COP) by 61.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,384 shares of the energy producer’s stock after selling 18,469 shares during the quarter. Legacy Wealth Management LLC MS’s holdings in ConocoPhillips were worth $1,066,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Howard Hughes Medical Institute acquired a new stake in shares of ConocoPhillips during the second quarter worth $25,000. Cloud Capital Management LLC acquired a new position in ConocoPhillips in the 3rd quarter worth $26,000. KERR FINANCIAL PLANNING Corp acquired a new position in ConocoPhillips in the 3rd quarter worth $28,000. Strive Asset Management LLC bought a new position in ConocoPhillips during the 3rd quarter worth about $28,000. Finally, Cedar Mountain Advisors LLC raised its stake in shares of ConocoPhillips by 58.0% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 316 shares of the energy producer’s stock valued at $30,000 after purchasing an additional 116 shares during the period. Institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

COP has been the topic of several research reports. The Goldman Sachs Group boosted their target price on ConocoPhillips from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, February 6th. JPMorgan Chase & Co. raised their price target on shares of ConocoPhillips from $98.00 to $103.00 and gave the stock a “neutral” rating in a research note on Friday, February 6th. Barclays lifted their price objective on shares of ConocoPhillips from $118.00 to $128.00 and gave the company an “overweight” rating in a report on Monday. BMO Capital Markets increased their target price on shares of ConocoPhillips from $115.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, March 3rd. Finally, Wall Street Zen raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.38.

Insiders Place Their Bets

In related news, SVP Andrew D. Lundquist sold 34,500 shares of the firm’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $119.68, for a total transaction of $4,128,960.00. Following the transaction, the senior vice president directly owned 17,469 shares of the company’s stock, valued at approximately $2,090,689.92. This trade represents a 66.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kelly Brunetti Rose sold 8,500 shares of ConocoPhillips stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $118.04, for a total transaction of $1,003,340.00. Following the completion of the sale, the senior vice president owned 32,984 shares of the company’s stock, valued at $3,893,431.36. This trade represents a 20.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 100,176 shares of company stock valued at $11,934,877 in the last three months. Insiders own 0.24% of the company’s stock.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $125.98 on Friday. The company has a market capitalization of $155.67 billion, a price-to-earnings ratio of 19.87, a PEG ratio of 3.40 and a beta of 0.27. The company has a current ratio of 1.30, a quick ratio of 1.14 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $126.35. The stock’s 50 day moving average is $108.71 and its 200-day moving average is $97.64.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, February 5th. The energy producer reported $1.02 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.21). The firm had revenue of $13.86 billion during the quarter, compared to analyst estimates of $14.35 billion. ConocoPhillips had a net margin of 12.98% and a return on equity of 11.90%. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.98 earnings per share. Equities research analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Wednesday, February 18th were paid a $0.84 dividend. The ex-dividend date was Wednesday, February 18th. This represents a $3.36 annualized dividend and a dividend yield of 2.7%. ConocoPhillips’s dividend payout ratio is 53.00%.

More ConocoPhillips News

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Strong industry tailwinds: oil prices jumped after missile attacks on Qatar energy assets, which typically lifts upstream producers’ near-term cash flows and sentiment. Oil Prices Surge After Attacks on Energy Assets in Qatar; Energy Stocks Higher in Premarket Trading
• Positive Sentiment: Strategic acreage gains: ConocoPhillips was among bidders in a record Alaska National Petroleum Reserve lease sale, signaling access to high-potential upstream inventory that can support long-term production growth. Record Arctic Alaska auction lures ExxonMobil, Shell, Repsol and ConocoPhillips
• Positive Sentiment: Record Alaska sale economic signal: Oil majors collectively bid ~$163M in the sale, underscoring strong industry appetite for U.S. exploration assets — a positive backdrop for COP’s growth outlook. Oil Giants Bid $163 Million in Trump’s Record Alaska Lease Sale
• Positive Sentiment: Analyst bullishness: Mizuho raised its COP price target to $136 and Barclays to $128, providing support for investor expectations. Mizuho Raises ConocoPhillips (NYSE:COP) Price Target to $136.00 Barclays Increases ConocoPhillips (NYSE:COP) Price Target to $128.00
• Positive Sentiment: Institutional buying: Advisory Services Network LLC disclosed an increase in COP holdings, signaling some investor confidence. Advisory Services Network LLC Grows Stock Holdings in ConocoPhillips $COP
• Positive Sentiment: Sector-level benefit: A CBS News analysis projects U.S. oil producers could see a multi‑billion dollar boost from elevated crude prices in the near term, which supports COP’s cash flow outlook. U.S. oil producers could get $63 billion boost from high crude prices
• Neutral Sentiment: Upcoming earnings: COP scheduled its Q1 earnings call for April 30 — a key event that will provide fresh guidance and could move the stock depending on production, realized prices and capex commentary. ConocoPhillips to hold first-quarter earnings conference call on Thursday April 30
• Neutral Sentiment: Asset consolidation in Australia: ConocoPhillips’ Australian unit issued a buyout notice to acquire 3D Energi’s VIC/P79 stake in the Otway Basin — a tactical move that may simplify operations but has uncertain near-term value impact. 3D Energi says ConocoPhillips’ Australian unit seeks buy its stake in Otway Basin
• Negative Sentiment: Insider selling: A ConocoPhillips senior VP sold roughly $4.13M in stock, which can be perceived negatively by some investors even if part of routine diversification. ConocoPhillips (NYSE:COP) SVP Sells $4,128,960.00 in Stock

ConocoPhillips Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.