GSB Wealth Management LLC Buys New Shares in ConocoPhillips (NYSE:COP)

GSB Wealth Management LLC purchased a new position in shares of ConocoPhillips (NYSE:COP) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,045 shares of the energy producer’s stock, valued at approximately $215,000.

Other large investors have also recently added to or reduced their stakes in the company. Manchester Capital Management LLC lifted its stake in ConocoPhillips by 22.1% in the 1st quarter. Manchester Capital Management LLC now owns 475 shares of the energy producer’s stock valued at $60,000 after purchasing an additional 86 shares during the last quarter. Vicus Capital boosted its stake in shares of ConocoPhillips by 3.7% during the 2nd quarter. Vicus Capital now owns 2,637 shares of the energy producer’s stock worth $302,000 after acquiring an additional 94 shares during the period. Montag A & Associates Inc. increased its holdings in shares of ConocoPhillips by 2.5% during the 2nd quarter. Montag A & Associates Inc. now owns 3,900 shares of the energy producer’s stock worth $446,000 after acquiring an additional 96 shares during the last quarter. Excalibur Management Corp increased its holdings in shares of ConocoPhillips by 2.4% during the 2nd quarter. Excalibur Management Corp now owns 4,037 shares of the energy producer’s stock worth $462,000 after acquiring an additional 96 shares during the last quarter. Finally, First Hawaiian Bank raised its stake in ConocoPhillips by 0.3% in the 2nd quarter. First Hawaiian Bank now owns 36,739 shares of the energy producer’s stock valued at $4,202,000 after acquiring an additional 97 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on COP shares. UBS Group decreased 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. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 price target on shares of ConocoPhillips in a report on Friday, September 13th. Scotiabank reduced their price objective on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Mizuho lowered their target price on ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Finally, Wells Fargo & Company restated a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $136.94.

ConocoPhillips Price Performance

COP stock opened at $103.03 on Thursday. The company’s 50-day moving average price is $108.02 and its two-hundred day moving average price is $113.20. The firm has a market cap of $119.64 billion, a P/E ratio of 11.49, a P/E/G ratio of 0.85 and a beta of 1.21. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 12 month low of $101.29 and a 12 month high of $135.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The business had revenue of $14.14 billion for the quarter, compared to analysts’ expectations of $14.96 billion. During the same period last year, the firm posted $1.84 earnings per share. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, analysts anticipate that ConocoPhillips will post 7.85 earnings per share for the current fiscal year.

Insider Buying and Selling at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the completion of the transaction, the director now owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.34% of the company’s stock.

About ConocoPhillips

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.