Woodward Diversified Capital LLC Lowers Stock Holdings in ConocoPhillips (NYSE:COP)

Woodward Diversified Capital LLC cut its stake in shares of ConocoPhillips (NYSE:COP) by 35.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,003 shares of the energy producer’s stock after selling 3,251 shares during the period. Woodward Diversified Capital LLC’s holdings in ConocoPhillips were worth $595,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Albion Financial Group UT lifted its position in ConocoPhillips by 876.9% in the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after purchasing an additional 228 shares during the period. Values First Advisors Inc. purchased a new position in shares of ConocoPhillips during the 3rd quarter worth approximately $26,000. Reston Wealth Management LLC acquired a new stake in shares of ConocoPhillips in the 3rd quarter valued at approximately $31,000. Truvestments Capital LLC purchased a new stake in shares of ConocoPhillips in the third quarter valued at approximately $31,000. Finally, Global Wealth Strategies & Associates grew its holdings in ConocoPhillips by 80.5% during the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after acquiring an additional 153 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Trading Down 1.6 %

ConocoPhillips stock opened at $98.34 on Friday. The stock has a market cap of $113.18 billion, a PE ratio of 12.62, a P/E/G ratio of 0.77 and a beta of 1.18. The company has a current ratio of 1.29, a quick ratio of 1.16 and a debt-to-equity ratio of 0.36. The stock has a 50-day moving average price of $101.25 and a 200 day moving average price of $106.28. ConocoPhillips has a 52 week low of $94.23 and a 52 week high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. Equities research analysts predict that ConocoPhillips will post 8.3 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 17th will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date is Friday, February 14th. ConocoPhillips’s dividend payout ratio is presently 40.05%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Raymond James raised their target price on ConocoPhillips from $148.00 to $157.00 and gave the company a “strong-buy” rating in a report on Thursday, January 23rd. Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $132.00 to $134.00 in a research note on Monday, December 16th. JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $120.00 to $123.00 in a research report on Thursday, December 5th. Morgan Stanley initiated coverage on shares of ConocoPhillips in a research report on Monday, December 16th. They set an “overweight” rating and a $128.00 price target for the company. Finally, TD Cowen started coverage on ConocoPhillips in a research note on Friday, January 17th. They set a “buy” rating and a $125.00 price target on the stock. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, ConocoPhillips currently has an average rating of “Buy” and a consensus price target of $135.89.

Insider Transactions at ConocoPhillips

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

ConocoPhillips Company Profile

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.