Iams Wealth Management LLC Has $2.05 Million Stock Position in ConocoPhillips (NYSE:COP)

Iams Wealth Management LLC lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 13.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,702 shares of the energy producer’s stock after buying an additional 2,499 shares during the period. Iams Wealth Management LLC’s holdings in ConocoPhillips were worth $2,053,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Cypress Capital Group grew its holdings in ConocoPhillips by 0.5% during the third quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock valued at $1,978,000 after purchasing an additional 96 shares during the period. Aprio Wealth Management LLC grew its holdings in ConocoPhillips by 4.8% during the third quarter. Aprio Wealth Management LLC now owns 2,125 shares of the energy producer’s stock valued at $224,000 after purchasing an additional 97 shares during the period. Smithfield Trust Co boosted its holdings in shares of ConocoPhillips by 3.3% in the third quarter. Smithfield Trust Co now owns 3,132 shares of the energy producer’s stock worth $332,000 after acquiring an additional 100 shares during the period. Ignite Planners LLC boosted its holdings in shares of ConocoPhillips by 1.0% in the third quarter. Ignite Planners LLC now owns 10,001 shares of the energy producer’s stock worth $1,053,000 after acquiring an additional 102 shares during the period. Finally, Asset Dedication LLC raised its position in shares of ConocoPhillips by 2.5% in the third quarter. Asset Dedication LLC now owns 4,202 shares of the energy producer’s stock worth $442,000 after buying an additional 102 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insiders Place Their Bets

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

Analysts Set New Price Targets

COP has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $120.00 to $123.00 in a research report on Thursday, December 5th. BMO Capital Markets raised their price target on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. TD Cowen initiated coverage on ConocoPhillips in a research report on Friday, January 17th. They set a “buy” rating and a $125.00 price target on the stock. Wells Fargo & Company lowered their price target on ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 14th. Finally, Morgan Stanley assumed coverage on ConocoPhillips in a report on Monday, December 16th. They issued an “overweight” rating and a $128.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, ConocoPhillips presently has an average rating of “Buy” and an average target price of $135.89.

ConocoPhillips Trading Down 0.4 %

Shares of ConocoPhillips stock opened at $100.94 on Wednesday. The company has a fifty day moving average of $102.53 and a 200 day moving average of $106.90. ConocoPhillips has a fifty-two week low of $94.23 and a fifty-two week high of $135.18. The company has a market capitalization of $116.18 billion, a P/E ratio of 12.02, a P/E/G ratio of 0.86 and a beta of 1.19. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. The firm had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.16 EPS. On average, sell-side analysts anticipate that ConocoPhillips will post 7.65 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.09%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, November 8th. ConocoPhillips’s dividend payout ratio (DPR) is presently 37.10%.

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.