Brady Martz Wealth Solutions LLC Makes New $888,000 Investment in ConocoPhillips (NYSE:COP)

Brady Martz Wealth Solutions LLC bought a new position in ConocoPhillips (NYSE:COP) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 8,463 shares of the energy producer’s stock, valued at approximately $888,000.

A number of other large investors have also modified their holdings of the stock. State Street Corp grew its holdings in ConocoPhillips by 19.0% during the 3rd quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock valued at $7,046,263,000 after purchasing an additional 10,663,093 shares in the last quarter. Wellington Management Group LLP boosted its position in ConocoPhillips by 20.2% in the 3rd quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock valued at $3,280,725,000 after buying an additional 5,240,016 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of ConocoPhillips by 3.9% during the third quarter. Geode Capital Management LLC now owns 24,733,928 shares of the energy producer’s stock valued at $2,601,639,000 after acquiring an additional 924,289 shares in the last quarter. Franklin Resources Inc. increased its position in shares of ConocoPhillips by 12.5% during the third quarter. Franklin Resources Inc. now owns 13,557,351 shares of the energy producer’s stock worth $1,469,163,000 after acquiring an additional 1,506,599 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its stake in shares of ConocoPhillips by 59.7% in the third quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock worth $1,311,369,000 after acquiring an additional 4,656,040 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. TD Cowen began coverage on ConocoPhillips in a report on Friday. They set a “buy” rating and a $125.00 price objective on the stock. Morgan Stanley assumed coverage on shares of ConocoPhillips in a report on Monday, December 16th. They issued an “overweight” rating and a $128.00 price target on the stock. Susquehanna raised their price objective on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Barclays increased their price target on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Finally, Evercore ISI reissued an “outperform” rating and issued a $165.00 price objective on shares of ConocoPhillips in a report on Friday, December 6th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $136.00.

ConocoPhillips Stock Up 0.1 %

COP stock opened at $105.76 on Friday. The stock has a market cap of $121.72 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 0.81 and a beta of 1.19. The firm’s 50-day simple moving average is $103.79 and its 200 day simple moving average is $107.47. ConocoPhillips has a fifty-two week low of $94.23 and a fifty-two week high of $135.18. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.97 billion. During the same quarter in the previous year, the company posted $2.16 earnings per share. The business’s revenue for the quarter was down 8.5% compared to the same quarter last year. As a group, sell-side analysts predict that ConocoPhillips will post 7.7 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were paid a $0.78 dividend. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, November 8th. This represents a $3.12 annualized dividend and a dividend yield of 2.95%. ConocoPhillips’s dividend payout ratio is presently 37.10%.

Insider Transactions at ConocoPhillips

In other news, Director R A. Walker acquired 10,400 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were bought at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the purchase, the director now owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. This represents a 37.68 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Arjun N. Murti bought 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were purchased at an average cost of $95.87 per share, with a total value of $239,675.00. Following the purchase, the director now directly owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. This represents a 13.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.34% of the company’s stock.

About ConocoPhillips

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.