Sage Mountain Advisors LLC Has $953,000 Stock Holdings in ConocoPhillips (NYSE:COP)

Sage Mountain Advisors LLC lifted its stake in ConocoPhillips (NYSE:COP) by 34.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,605 shares of the energy producer’s stock after acquiring an additional 2,472 shares during the quarter. Sage Mountain Advisors LLC’s holdings in ConocoPhillips were worth $953,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of COP. CWA Asset Management Group LLC acquired a new position in ConocoPhillips during the third quarter worth $337,000. Sheets Smith Wealth Management increased its position in ConocoPhillips by 8.2% during the third quarter. Sheets Smith Wealth Management now owns 3,571 shares of the energy producer’s stock worth $376,000 after buying an additional 270 shares during the last quarter. XML Financial LLC increased its position in ConocoPhillips by 54.8% during the third quarter. XML Financial LLC now owns 6,367 shares of the energy producer’s stock worth $670,000 after buying an additional 2,253 shares during the last quarter. Axxcess Wealth Management LLC increased its position in ConocoPhillips by 0.6% during the third quarter. Axxcess Wealth Management LLC now owns 33,867 shares of the energy producer’s stock worth $3,566,000 after buying an additional 214 shares during the last quarter. Finally, Legacy Capital Wealth Partners LLC acquired a new position in ConocoPhillips during the third quarter worth $219,000. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Stock Up 2.2 %

Shares of COP opened at $92.60 on Tuesday. The stock has a market cap of $117.82 billion, a price-to-earnings ratio of 11.89, a P/E/G ratio of 0.79 and a beta of 1.12. The company has a 50-day moving average price of $99.44 and a two-hundred day moving average price of $104.18. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 12 month low of $86.81 and a 12 month high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. Equities analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips’s payout ratio is 40.05%.

Analysts Set New Price Targets

Several research firms have commented on COP. Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $132.00 to $134.00 in a research report on Monday, December 16th. Wells Fargo & Company decreased their price target on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Morgan Stanley initiated coverage on shares of ConocoPhillips in a report on Monday, December 16th. They set an “overweight” rating and a $128.00 price target for the company. JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and increased their target price for the company from $120.00 to $123.00 in a research note on Thursday, December 5th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $165.00 target price on shares of ConocoPhillips in a research note on Friday, December 6th. Two 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’s stock. According to data from MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.47.

Insider Transactions at ConocoPhillips

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