AE Wealth Management LLC Has $9.78 Million Stake in ConocoPhillips $COP

AE Wealth Management LLC raised its position in shares of ConocoPhillips (NYSE:COP) by 107.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,430 shares of the energy producer’s stock after acquiring an additional 53,587 shares during the period. AE Wealth Management LLC’s holdings in ConocoPhillips were worth $9,783,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in COP. Howard Hughes Medical Institute bought a new position in ConocoPhillips in the 2nd quarter worth approximately $25,000. Bogart Wealth LLC grew its stake in shares of ConocoPhillips by 136.8% in the second quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock worth $28,000 after acquiring an additional 182 shares during the last quarter. Cedar Mountain Advisors LLC increased its position in ConocoPhillips by 58.0% during the third quarter. Cedar Mountain Advisors LLC now owns 316 shares of the energy producer’s stock worth $30,000 after acquiring an additional 116 shares during the period. Activest Wealth Management increased its position in ConocoPhillips by 249.5% during the second quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock worth $29,000 after acquiring an additional 232 shares during the period. Finally, BNP Paribas acquired a new position in ConocoPhillips during the 2nd quarter valued at $33,000. 82.36% of the stock is currently owned by institutional investors.

Key ConocoPhillips News

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Federal judge cleared ConocoPhillips to proceed with its winter drilling program in Alaska, reducing near-term legal uncertainty that could have delayed production and spending. Federal judge rules that ConocoPhillips can proceed with winter drilling program
• Positive Sentiment: Regulatory clearance was echoed in coverage that a judge “green-lit” COP’s Alaska drilling program, further lowering execution risk for Arctic activity. Judge green-lights ConocoPhillips Alaska oil drilling program
• Positive Sentiment: Geopolitical risk has pushed oil prices higher (Iran/strait-of-Hormuz concerns), which benefits integrated E&P names like ConocoPhillips through stronger commodity realizations and cash flow. Oil Rallies On Iran War Fears – 5 Integrated Energy Giants With Big Dividends
• Neutral Sentiment: ConocoPhillips says its plans for four new Arctic wells are unaffected by the toppled rig, which suggests management expects limited near-term disruption to the development schedule. ConocoPhillips’ plans for 4 new Arctic wells unaffected by toppled rig, company says
• Neutral Sentiment: Coverage notes the company called the Doyon rig destruction “a sad day” but downplayed major impacts; investors should watch for official damage/insurance updates. ConocoPhillips execs call Doyon oil rig destruction a ‘sad day,’ but no major impacts expected
• Negative Sentiment: An Arctic rig toppled and ignited a fire — an operational and reputational risk that could lead to added costs, regulatory scrutiny or delays if follow-up inspections or litigation arise. Monitor incident reports and any updates from regulators. As an Oil Rig Topples in the Alaskan Arctic and Ignites a Fire, Exploration There Continues
• Negative Sentiment: Analysts expect a year-over-year earnings decline for the upcoming quarter, which could cap near-term upside if results miss expectations or guidance is cautious. Analysts Estimate ConocoPhillips (COP) to Report a Decline in Earnings: What to Look Out for

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. UBS Group raised their price target on shares of ConocoPhillips from $117.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $98.00 target price on shares of ConocoPhillips in a research report on Tuesday, January 20th. Royal Bank Of Canada boosted 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. Piper Sandler reduced their price objective on ConocoPhillips from $115.00 to $109.00 and set an “overweight” rating for the company in a research report on Thursday, January 8th. Finally, The Goldman Sachs Group lifted their price objective on ConocoPhillips from $108.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Sixteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $110.96.

Insider Activity

In other news, Director William H. Mcraven acquired 5,768 shares of the company’s stock in a transaction dated Monday, November 10th. The stock was bought at an average price of $86.68 per share, with a total value of $499,970.24. Following the completion of the acquisition, the director owned 5,768 shares in the company, valued at approximately $499,970.24. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ryan Michael Lance sold 500,708 shares of the firm’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $92.50, for a total value of $46,315,490.00. Following the sale, the chief executive officer directly owned 325,972 shares of the company’s stock, valued at $30,152,410. This represents a 60.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.24% of the stock is currently owned by corporate insiders.

ConocoPhillips Stock Performance

NYSE:COP opened at $104.25 on Friday. The firm has a market capitalization of $128.82 billion, a PE ratio of 14.74, a price-to-earnings-growth ratio of 3.26 and a beta of 0.32. The company has a quick ratio of 1.18, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $106.20. The firm has a 50-day moving average price of $94.70 and a 200 day moving average price of $93.25.

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. ConocoPhillips had a return on equity of 13.64% and a net margin of 14.25%.The company had revenue of $15.03 billion for the quarter, compared to analyst estimates of $14.51 billion. During the same period in the prior year, the company posted $1.78 EPS. The company’s revenue was up 14.1% compared to the same quarter last year. Research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 17th were issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Monday, November 17th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.78. ConocoPhillips’s payout ratio is currently 47.52%.

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.