Beirne Wealth Consulting Services LLC Has $2.09 Million Position in ConocoPhillips $COP

Beirne Wealth Consulting Services LLC grew its position in ConocoPhillips (NYSE:COP) by 550.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,098 shares of the energy producer’s stock after purchasing an additional 18,699 shares during the period. Beirne Wealth Consulting Services LLC’s holdings in ConocoPhillips were worth $2,090,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in COP. Howard Hughes Medical Institute acquired a new stake in ConocoPhillips during the 2nd quarter worth $25,000. Cloud Capital Management LLC acquired a new stake in shares of ConocoPhillips during the third quarter worth about $26,000. Bogart Wealth LLC raised its position in shares of ConocoPhillips by 136.8% during the second quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock worth $28,000 after purchasing an additional 182 shares during the period. Cedar Mountain Advisors LLC lifted its holdings in shares of ConocoPhillips by 58.0% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 316 shares of the energy producer’s stock valued at $30,000 after purchasing an additional 116 shares in the last quarter. Finally, BNP Paribas acquired a new position in shares of ConocoPhillips in the 2nd quarter valued at approximately $33,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Up 0.6%

Shares of COP stock opened at $111.51 on Tuesday. The firm’s fifty day moving average price is $98.71 and its two-hundred day moving average price is $94.30. The company has a current ratio of 1.30, a quick ratio of 1.14 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $112.07. The firm has a market capitalization of $137.79 billion, a P/E ratio of 17.59 and a beta of 0.32.

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

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Wednesday, February 18th will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Wednesday, February 18th. ConocoPhillips’s dividend payout ratio (DPR) is currently 53.00%.

Insider Buying and Selling at ConocoPhillips

In other news, CEO Ryan Michael Lance sold 500,708 shares of the company’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $92.50, for a total transaction of $46,315,490.00. Following the sale, the chief executive officer owned 325,972 shares in the company, valued at $30,152,410. This represents a 60.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.24% of the stock is owned by company insiders.

Analysts Set New Price Targets

COP has been the topic of several research analyst reports. Mizuho raised their target price on shares of ConocoPhillips from $120.00 to $121.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. Morgan Stanley dropped their price objective on shares of ConocoPhillips from $117.00 to $108.00 and set an “overweight” rating on the stock in a report on Friday, January 23rd. Citigroup boosted their price objective on shares of ConocoPhillips from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, February 6th. Raymond James Financial increased their target price on ConocoPhillips from $113.00 to $118.00 and gave the stock an “outperform” rating in a report on Wednesday, February 11th. Finally, Bank of America reissued an “underperform” rating and issued a $102.00 price target on shares of ConocoPhillips in a research note on Friday, January 16th. Seventeen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $115.54.

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.