Conning Inc. Has $34.35 Million Stock Holdings in ConocoPhillips $COP

Conning Inc. reduced its position in shares of ConocoPhillips (NYSE:COP) by 9.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 363,131 shares of the energy producer’s stock after selling 37,624 shares during the period. ConocoPhillips comprises 1.1% of Conning Inc.’s investment portfolio, making the stock its 27th largest holding. Conning Inc.’s holdings in ConocoPhillips were worth $34,349,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in COP. Impact Capital Partners LLC increased its position in ConocoPhillips by 7.8% in the 3rd quarter. Impact Capital Partners LLC now owns 2,766 shares of the energy producer’s stock valued at $262,000 after acquiring an additional 200 shares during the period. Meadow Creek Wealth Advisors LLC grew its stake in shares of ConocoPhillips by 19.1% in the third quarter. Meadow Creek Wealth Advisors LLC now owns 2,778 shares of the energy producer’s stock worth $241,000 after purchasing an additional 445 shares during the last quarter. Hoxton Planning & Management LLC acquired a new stake in ConocoPhillips in the third quarter valued at $249,000. Kera Capital Partners Inc. bought a new position in ConocoPhillips during the 3rd quarter worth $239,000. Finally, Touchstone Capital Inc. acquired a new position in ConocoPhillips during the 3rd quarter worth about $296,000. Institutional investors own 82.36% of the company’s stock.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, CEO Ryan Michael Lance sold 500,708 shares of the stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $92.50, for a total value of $46,315,490.00. Following the transaction, the chief executive officer owned 325,972 shares in the company, valued at approximately $30,152,410. This represents a 60.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William H. Mcraven acquired 5,768 shares of ConocoPhillips stock in a transaction on Monday, November 10th. The stock was purchased at an average cost of $86.68 per share, with a total value of $499,970.24. Following the purchase, the director directly owned 5,768 shares of the company’s stock, valued at approximately $499,970.24. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.24% of the stock is owned by corporate insiders.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $100.32 on Thursday. The stock has a market capitalization of $123.97 billion, a price-to-earnings ratio of 14.19, a PEG ratio of 2.61 and a beta of 0.32. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $106.20. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.18 and a current ratio of 1.32. The stock’s 50 day moving average price is $92.16 and its two-hundred day moving average price is $92.80.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, November 6th. The energy producer reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.20. The company had revenue of $15.03 billion during the quarter, compared to analyst estimates of $14.51 billion. ConocoPhillips had a net margin of 14.25% and a return on equity of 13.64%. ConocoPhillips’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.78 EPS. On average, equities analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 17th were issued a dividend of $0.84 per share. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.78. This represents a $3.36 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Monday, November 17th. ConocoPhillips’s dividend payout ratio (DPR) is currently 47.52%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Royal Bank Of Canada increased their price target on ConocoPhillips from $113.00 to $118.00 and gave the company an “outperform” rating in a research note on Monday, October 13th. Morgan Stanley reduced their target price on ConocoPhillips from $122.00 to $117.00 and set an “overweight” rating on the stock in a report on Thursday, November 20th. Wells Fargo & Company began coverage on shares of ConocoPhillips in a report on Friday, October 17th. They set an “equal weight” rating and a $100.00 price target for the company. Wall Street Zen upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Wolfe Research decreased their price objective on shares of ConocoPhillips from $131.00 to $126.00 and set an “outperform” rating for the company in a research report on Monday, January 5th. Eighteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $111.76.

About ConocoPhillips

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.