HighTower Advisors LLC Grows Position in ConocoPhillips (NYSE:COP)

HighTower Advisors LLC increased its position in shares of ConocoPhillips (NYSE:COP) by 15.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,257,243 shares of the energy producer’s stock after purchasing an additional 165,477 shares during the period. HighTower Advisors LLC owned approximately 0.11% of ConocoPhillips worth $124,681,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Moors & Cabot Inc. boosted its stake in shares of ConocoPhillips by 14.0% during the 4th quarter. Moors & Cabot Inc. now owns 48,932 shares of the energy producer’s stock worth $4,853,000 after purchasing an additional 6,021 shares during the period. Cooke & Bieler LP lifted its holdings in ConocoPhillips by 11.6% during the 4th quarter. Cooke & Bieler LP now owns 1,760,605 shares of the energy producer’s stock valued at $174,599,000 after buying an additional 183,562 shares in the last quarter. Inspire Advisors LLC bought a new stake in ConocoPhillips during the 4th quarter valued at about $201,000. Smith & Howard Wealth Management LLC bought a new stake in ConocoPhillips during the 4th quarter valued at about $203,000. Finally, Founders Financial Alliance LLC lifted its holdings in ConocoPhillips by 9.8% during the 4th quarter. Founders Financial Alliance LLC now owns 4,546 shares of the energy producer’s stock valued at $451,000 after buying an additional 407 shares in 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 brokerages recently weighed in on COP. Raymond James lowered shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the company from $157.00 to $124.00 in a report on Monday, February 10th. Wells Fargo & Company decreased their price objective 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 began coverage on shares of ConocoPhillips in a report on Monday, December 16th. They set an “overweight” rating and a $128.00 price objective for the company. JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $120.00 to $123.00 in a report on Thursday, December 5th. Finally, Evercore ISI reiterated an “outperform” rating and set a $165.00 price objective on shares of ConocoPhillips in a report on Friday, December 6th. Two 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $133.47.

Insiders Place Their Bets

In related news, Director Arjun N. Murti bought 2,500 shares of the company’s stock in a transaction on Friday, December 20th. The shares were bought at an average price of $95.87 per share, with a total value of $239,675.00. Following the transaction, the director now owns 21,500 shares in the company, valued at approximately $2,061,205. This trade represents a 13.16 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director R A. Walker bought 10,400 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were bought at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following 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 position. The disclosure for this purchase can be found here. 0.34% of the stock is owned by insiders.

ConocoPhillips Stock Up 2.3 %

Shares of ConocoPhillips stock opened at $97.64 on Thursday. The firm’s 50 day moving average price is $99.34 and its 200-day moving average price is $104.03. 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 52-week low of $86.81 and a 52-week high of $135.18. The company has a market cap of $124.24 billion, a P/E ratio of 12.53, a PEG ratio of 0.79 and a beta of 1.12.

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

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.20%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s dividend payout ratio is presently 40.05%.

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.