Sendero Wealth Management LLC Grows Stake in ConocoPhillips (NYSE:COP)

Sendero Wealth Management LLC boosted its holdings in shares of ConocoPhillips (NYSE:COP) by 0.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 66,076 shares of the energy producer’s stock after purchasing an additional 90 shares during the quarter. ConocoPhillips comprises 1.4% of Sendero Wealth Management LLC’s portfolio, making the stock its 11th biggest holding. Sendero Wealth Management LLC’s holdings in ConocoPhillips were worth $8,410,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in COP. Orion Capital Management LLC purchased a new position in ConocoPhillips during the 3rd quarter valued at approximately $27,000. West Branch Capital LLC grew its holdings in shares of ConocoPhillips by 87.8% in the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after purchasing an additional 108 shares in the last quarter. Sachetta LLC bought a new stake in ConocoPhillips in the fourth quarter worth $27,000. Cooksen Wealth LLC purchased a new stake in ConocoPhillips during the fourth quarter valued at $27,000. Finally, Cape Investment Advisory Inc. lifted its position in ConocoPhillips by 96.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 121 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on COP shares. StockNews.com raised shares of ConocoPhillips from a “hold” rating to a “buy” rating in a report on Thursday. Royal Bank of Canada lifted their target price on ConocoPhillips from $135.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, May 15th. Susquehanna increased their price target on ConocoPhillips from $133.00 to $154.00 and gave the company a “positive” rating in a report on Monday, April 22nd. Scotiabank lifted their price objective on shares of ConocoPhillips from $120.00 to $135.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 11th. Finally, Bank of America reiterated a “buy” rating and set a $147.00 price objective on shares of ConocoPhillips in a research report on Friday, June 14th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $144.18.

ConocoPhillips Trading Up 0.4 %

NYSE:COP traded up $0.41 during midday trading on Friday, hitting $114.38. The stock had a trading volume of 7,191,744 shares, compared to its average volume of 5,700,099. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.35. The stock has a 50-day moving average of $118.30 and a 200 day moving average of $117.53. The company has a market capitalization of $133.77 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 2.02 and a beta of 1.22. ConocoPhillips has a one year low of $99.35 and a one year high of $135.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, May 2nd. The energy producer reported $2.03 EPS for the quarter, beating the consensus estimate of $1.99 by $0.04. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. The firm had revenue of $14.48 billion for the quarter, compared to analyst estimates of $14.72 billion. As a group, sell-side analysts forecast that ConocoPhillips will post 8.89 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 13th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend was Friday, May 10th. ConocoPhillips’s payout ratio is 26.27%.

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.