Slocum Gordon & Co LLP Purchases New Shares in ConocoPhillips $COP

Slocum Gordon & Co LLP acquired a new stake in shares of ConocoPhillips (NYSE:COP) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 26,172 shares of the energy producer’s stock, valued at approximately $2,476,000. ConocoPhillips comprises 2.0% of Slocum Gordon & Co LLP’s investment portfolio, making the stock its 18th biggest holding.

A number of other large investors have also recently made changes to their positions in COP. Howard Hughes Medical Institute bought a new position in shares of ConocoPhillips in the 2nd quarter valued at about $25,000. Bogart Wealth LLC boosted its holdings in shares of ConocoPhillips by 136.8% in the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock worth $28,000 after purchasing an additional 182 shares during the period. Activest Wealth Management raised its holdings in ConocoPhillips by 249.5% during the 2nd quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock valued at $29,000 after buying an additional 232 shares during the period. BNP Paribas bought a new position in shares of ConocoPhillips during the second quarter valued at approximately $33,000. Finally, Nemes Rush Group LLC increased its holdings in ConocoPhillips by 38.7% during the 2nd quarter. Nemes Rush Group LLC now owns 419 shares of the energy producer’s stock worth $38,000 after purchasing an additional 117 shares during the period. 82.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on COP. Johnson Rice downgraded shares of ConocoPhillips from an “accumulate” rating to a “hold” rating and reduced their price objective for the stock from $108.00 to $105.00 in a research note on Friday, December 5th. Wells Fargo & Company started coverage on shares of ConocoPhillips in a research note on Friday, October 17th. They set an “equal weight” rating and a $100.00 price objective for the company. BMO Capital Markets reduced their target price on ConocoPhillips from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, December 15th. Capital One Financial increased their price objective on ConocoPhillips from $111.00 to $112.00 in a report on Friday, October 3rd. Finally, Mizuho upped their target price on ConocoPhillips from $120.00 to $121.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. Nineteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus price target of $114.08.

ConocoPhillips Stock Down 0.3%

Shares of COP stock opened at $91.53 on Monday. The company has a current ratio of 1.32, a quick ratio of 1.18 and a debt-to-equity ratio of 0.35. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $106.20. The stock has a 50 day moving average of $90.05 and a 200 day moving average of $92.52. The stock has a market cap of $113.10 billion, a P/E ratio of 12.95, a P/E/G ratio of 2.07 and a beta of 0.32.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, November 6th. The energy producer reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.20. The firm had revenue of $15.03 billion for the quarter, compared to analysts’ expectations of $14.51 billion. ConocoPhillips had a net margin of 14.25% and a return on equity of 13.64%. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.78 EPS. As a group, sell-side analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 17th were paid a dividend of $0.84 per share. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.78. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Monday, November 17th. ConocoPhillips’s dividend payout ratio is presently 47.52%.

Insider Activity

In related news, CEO Ryan Michael Lance sold 500,708 shares of the firm’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $92.50, for a total value of $46,315,490.00. Following the transaction, the chief executive officer directly owned 325,972 shares of the company’s stock, valued at approximately $30,152,410. This trade represents a 60.57% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William H. Mcraven acquired 5,768 shares of the business’s stock in a transaction on Monday, November 10th. The shares were purchased at an average price of $86.68 per share, with a total value of $499,970.24. Following the completion of the purchase, the director owned 5,768 shares in the company, valued at $499,970.24. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. 0.24% of the stock is owned by corporate insiders.

ConocoPhillips Company 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.