Arkadios Wealth Advisors Increases Stock Holdings in ConocoPhillips $COP

Arkadios Wealth Advisors lifted its stake in shares of ConocoPhillips (NYSE:COP) by 19.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,138 shares of the energy producer’s stock after purchasing an additional 7,859 shares during the quarter. Arkadios Wealth Advisors’ holdings in ConocoPhillips were worth $4,648,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of COP. Turtle Creek Wealth Advisors LLC boosted its holdings in shares of ConocoPhillips by 17.6% in the third quarter. Turtle Creek Wealth Advisors LLC now owns 17,058 shares of the energy producer’s stock valued at $1,614,000 after acquiring an additional 2,556 shares in the last quarter. Tradewinds LLC. acquired a new stake in ConocoPhillips in the third quarter valued at about $310,000. Allstate Corp boosted its holdings in ConocoPhillips by 1,461.5% in the 3rd quarter. Allstate Corp now owns 46,595 shares of the energy producer’s stock valued at $4,407,000 after purchasing an additional 43,611 shares in the last quarter. Violich Capital Management Inc. increased its position in ConocoPhillips by 5.9% during the 3rd quarter. Violich Capital Management Inc. now owns 58,134 shares of the energy producer’s stock worth $5,499,000 after purchasing an additional 3,250 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of ConocoPhillips by 4.5% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 266,118 shares of the energy producer’s stock worth $25,342,000 after buying an additional 11,554 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Trading Down 2.8%

Shares of ConocoPhillips stock opened at $95.44 on Wednesday. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $106.20. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 1.18. The business has a 50 day moving average price of $92.95 and a 200 day moving average price of $92.94. The company has a market capitalization of $117.93 billion, a P/E ratio of 13.50, a P/E/G ratio of 2.73 and a beta of 0.32.

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

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 17th were issued a $0.84 dividend. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.78. The ex-dividend date was Monday, November 17th. This represents a $3.36 dividend on an annualized basis and a yield of 3.5%. ConocoPhillips’s payout ratio is currently 47.52%.

Insider Transactions at ConocoPhillips

In other news, Director William H. Mcraven bought 5,768 shares of the 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 owned 5,768 shares of the company’s stock, valued at approximately $499,970.24. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CEO Ryan Michael Lance sold 500,708 shares of the stock in a transaction 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 directly owned 325,972 shares in the company, valued at approximately $30,152,410. This represents a 60.57% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on COP shares. Morgan Stanley decreased their price target on ConocoPhillips from $122.00 to $117.00 and set an “overweight” rating on the stock in a research note on Thursday, November 20th. Jefferies Financial Group restated a “buy” rating on shares of ConocoPhillips in a research report on Monday, December 15th. Wells Fargo & Company initiated coverage on shares of ConocoPhillips in a report on Friday, October 17th. They issued an “equal weight” rating and a $100.00 price target for the company. Wolfe Research decreased their price objective on shares of ConocoPhillips from $126.00 to $122.00 and set an “outperform” rating on the stock in a report on Tuesday, January 13th. Finally, Barclays lowered their target price on shares of ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 7th. Sixteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and an average target price of $110.83.

ConocoPhillips Company Profile

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.