Dakota Wealth Management Has $5.21 Million Position in ConocoPhillips $COP

Dakota Wealth Management lessened its holdings in ConocoPhillips (NYSE:COP) by 10.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,042 shares of the energy producer’s stock after selling 6,195 shares during the quarter. Dakota Wealth Management’s holdings in ConocoPhillips were worth $5,206,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Primecap Management Co. CA raised its stake in shares of ConocoPhillips by 66.0% during the second quarter. Primecap Management Co. CA now owns 7,883,455 shares of the energy producer’s stock valued at $707,461,000 after acquiring an additional 3,135,315 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in ConocoPhillips by 31.4% in the second quarter. Ameriprise Financial Inc. now owns 10,778,664 shares of the energy producer’s stock valued at $966,267,000 after purchasing an additional 2,575,803 shares during the period. First Trust Advisors LP increased its holdings in ConocoPhillips by 146.6% in the second quarter. First Trust Advisors LP now owns 2,315,757 shares of the energy producer’s stock valued at $207,816,000 after purchasing an additional 1,376,509 shares during the period. Laurel Wealth Advisors LLC raised its position in ConocoPhillips by 8,148.3% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 917,788 shares of the energy producer’s stock worth $82,362,000 after purchasing an additional 906,661 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its holdings in ConocoPhillips by 18.0% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 4,565,154 shares of the energy producer’s stock worth $409,677,000 after buying an additional 697,700 shares during the period. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Stock Performance

Shares of COP stock opened at $110.64 on Wednesday. The company has a market cap of $136.71 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 2.79 and a beta of 0.32. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $113.80. The company has a quick ratio of 1.14, a current ratio of 1.30 and a debt-to-equity ratio of 0.35. The firm has a 50 day moving average of $100.60 and a 200-day moving average of $95.03.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, February 5th. The energy producer reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.21). The company had revenue of $13.86 billion for the quarter, compared to analyst estimates of $14.35 billion. ConocoPhillips had a net margin of 12.98% and a return on equity of 11.90%. The firm’s revenue was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.98 EPS. On average, equities analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Wednesday, February 18th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Wednesday, February 18th. ConocoPhillips’s dividend payout ratio is 53.00%.

Insider Activity at ConocoPhillips

In related news, CEO Ryan Michael Lance sold 500,708 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 325,972 shares of the company’s stock, valued at $30,152,410. The trade was a 60.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.24% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on COP shares. Wolfe Research increased their price target on ConocoPhillips from $122.00 to $123.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Jefferies Financial Group increased their target price on shares of ConocoPhillips from $120.00 to $129.00 and gave the company a “buy” rating in a research report on Monday. Bank of America restated an “underperform” rating and set a $102.00 price target on shares of ConocoPhillips in a report on Friday, January 16th. Raymond James Financial upped their price objective on shares of ConocoPhillips from $113.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday, February 11th. Finally, Sanford C. Bernstein lowered their target price on shares of ConocoPhillips from $116.00 to $98.00 and set an “outperform” rating for the company in a research note on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average price target of $115.92.

ConocoPhillips 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.