Sigma Planning Corp Increases Position in ConocoPhillips (NYSE:COP)

Sigma Planning Corp boosted its holdings in shares of ConocoPhillips (NYSE:COP) by 21.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 19,916 shares of the energy producer’s stock after purchasing an additional 3,556 shares during the quarter. Sigma Planning Corp’s holdings in ConocoPhillips were worth $1,975,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Albion Financial Group UT increased its stake in shares of ConocoPhillips by 876.9% in the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after buying an additional 228 shares during the last quarter. Centricity Wealth Management LLC bought a new stake in shares of ConocoPhillips in the fourth quarter worth $27,000. Reston Wealth Management LLC bought a new stake in shares of ConocoPhillips in the 3rd quarter worth about $31,000. Truvestments Capital LLC bought a new stake in shares of ConocoPhillips in the 3rd quarter worth about $31,000. Finally, Global Wealth Strategies & Associates increased its position in shares of ConocoPhillips by 80.5% in the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after purchasing an additional 153 shares during the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

ConocoPhillips Stock Performance

Shares of COP stock opened at $97.90 on Monday. ConocoPhillips has a 12-month low of $94.23 and a 12-month high of $135.18. The firm has a market capitalization of $124.57 billion, a price-to-earnings ratio of 12.57, a price-to-earnings-growth ratio of 0.79 and a beta of 1.18. The business has a 50 day simple moving average of $100.11 and a 200 day simple moving average of $105.43. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. On average, equities research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 17th will be paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date is Friday, February 14th. ConocoPhillips’s dividend payout ratio is currently 40.05%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on COP. Raymond James lowered ConocoPhillips from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the company from $157.00 to $124.00 in a report on Monday, February 10th. Wells Fargo & Company lowered their price target on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a report on Monday, February 10th. UBS Group lowered their price target on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Barclays lowered their target price on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Finally, Morgan Stanley assumed coverage on shares of ConocoPhillips in a research note on Monday, December 16th. They set an “overweight” rating and a $128.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $133.47.

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.