Occidental Asset Management LLC Purchases 1,842 Shares of ConocoPhillips (NYSE:COP)

Occidental Asset Management LLC boosted its position in ConocoPhillips (NYSE:COP) by 38.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,684 shares of the energy producer’s stock after acquiring an additional 1,842 shares during the period. Occidental Asset Management LLC’s holdings in ConocoPhillips were worth $704,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Iams Wealth Management LLC grew its position in ConocoPhillips by 11.6% in the 3rd quarter. Iams Wealth Management LLC now owns 18,203 shares of the energy producer’s stock valued at $1,916,000 after purchasing an additional 1,895 shares during the period. Creative Planning lifted its stake in shares of ConocoPhillips by 1.7% in the third quarter. Creative Planning now owns 248,439 shares of the energy producer’s stock valued at $26,156,000 after buying an additional 4,214 shares in the last quarter. CX Institutional grew its holdings in shares of ConocoPhillips by 4.3% during the third quarter. CX Institutional now owns 53,547 shares of the energy producer’s stock valued at $5,637,000 after buying an additional 2,206 shares during the last quarter. Wedge Capital Management L L P NC increased its position in shares of ConocoPhillips by 7.4% during the third quarter. Wedge Capital Management L L P NC now owns 2,168 shares of the energy producer’s stock worth $228,000 after acquiring an additional 150 shares in the last quarter. Finally, Fiduciary Alliance LLC raised its holdings in shares of ConocoPhillips by 0.5% in the 3rd quarter. Fiduciary Alliance LLC now owns 164,157 shares of the energy producer’s stock worth $17,282,000 after acquiring an additional 865 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on COP. BMO Capital Markets lifted their price target on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Wells Fargo & Company decreased their price target on ConocoPhillips from $150.00 to $132.00 and set an “overweight” rating for the company in a report on Friday, September 27th. Scotiabank lowered their price target on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. UBS Group cut their price objective on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Finally, StockNews.com cut ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $137.12.

ConocoPhillips Stock Down 0.9 %

Shares of NYSE COP opened at $109.47 on Tuesday. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. The business has a 50-day moving average of $109.16 and a 200-day moving average of $115.34. The firm has a market capitalization of $128.03 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 0.88 and a beta of 1.21. ConocoPhillips has a 12 month low of $101.29 and a 12 month high of $135.18.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.02. The business had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. ConocoPhillips’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.84 earnings per share. Sell-side analysts expect that ConocoPhillips will post 8.02 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were paid a $0.58 dividend. The ex-dividend date was Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a yield of 2.12%. ConocoPhillips’s dividend payout ratio is presently 26.27%.

Insider Buying and Selling at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the transaction, the director now directly owns 455,909 shares in the company, valued at approximately $49,288,321.99. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.34% of the company’s stock.

ConocoPhillips 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.