Global Wealth Strategies & Associates Has $34,000 Stock Holdings in ConocoPhillips (NYSE:COP)

Global Wealth Strategies & Associates raised its stake in ConocoPhillips (NYSE:COP) by 80.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 343 shares of the energy producer’s stock after buying an additional 153 shares during the period. Global Wealth Strategies & Associates’ holdings in ConocoPhillips were worth $34,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Values First Advisors Inc. acquired a new position in ConocoPhillips in the 3rd quarter valued at approximately $26,000. Reston Wealth Management LLC acquired a new stake in ConocoPhillips in the third quarter valued at $31,000. Truvestments Capital LLC acquired a new stake in ConocoPhillips in the third quarter valued at $31,000. Y.D. More Investments Ltd bought a new position in ConocoPhillips during the 2nd quarter worth $35,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in ConocoPhillips during the 3rd quarter worth about $35,000. Institutional investors own 82.36% of the company’s stock.

Insider Transactions at ConocoPhillips

In related news, Director Arjun N. Murti bought 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was bought at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the acquisition, the director now directly owns 21,500 shares of the company’s stock, valued at $2,061,205. The trade was a 13.16 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director R A. Walker purchased 10,400 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, December 17th. The shares were bought 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. The trade was a 37.68 % 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 Price Performance

Shares of ConocoPhillips stock traded up $0.62 on Thursday, hitting $99.79. 3,040,383 shares of the company traded hands, compared to its average volume of 6,137,225. ConocoPhillips has a 12-month low of $94.23 and a 12-month high of $135.18. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. The company has a market cap of $114.85 billion, a P/E ratio of 11.87, a P/E/G ratio of 0.83 and a beta of 1.18. The firm’s 50-day simple moving average is $104.94 and its 200 day simple moving average is $108.25.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. The business had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same quarter last year, the business posted $2.16 earnings per share. Analysts expect that ConocoPhillips will post 7.77 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were given a dividend of $0.78 per share. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date was Friday, November 8th. ConocoPhillips’s dividend payout ratio (DPR) is presently 37.10%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on COP. Wells Fargo & Company increased their target price on shares of ConocoPhillips from $131.00 to $134.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. BMO Capital Markets boosted their target price on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Evercore ISI reaffirmed an “outperform” rating and set a $165.00 price target on shares of ConocoPhillips in a research report on Friday, December 6th. Susquehanna lifted their price objective on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. Finally, Scotiabank cut their target price on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $136.71.

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.