Bartlett & CO. Wealth Management LLC Has $2.73 Million Stake in ConocoPhillips (NYSE:COP)

Bartlett & CO. Wealth Management LLC grew its stake in shares of ConocoPhillips (NYSE:COP) by 0.7% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 25,955 shares of the energy producer’s stock after buying an additional 179 shares during the period. Bartlett & CO. Wealth Management LLC’s holdings in ConocoPhillips were worth $2,733,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its holdings in ConocoPhillips by 35.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock valued at $4,097,473,000 after acquiring an additional 8,479,963 shares in the last quarter. Capital International Investors raised its stake in shares of ConocoPhillips by 9.6% in the first quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock valued at $2,705,059,000 after purchasing an additional 1,856,085 shares in the last quarter. Legal & General Group Plc lifted its position in ConocoPhillips by 4.6% in the second quarter. Legal & General Group Plc now owns 9,900,596 shares of the energy producer’s stock worth $1,132,430,000 after purchasing an additional 438,241 shares during the period. Diamond Hill Capital Management Inc. boosted its stake in ConocoPhillips by 2.0% during the second quarter. Diamond Hill Capital Management Inc. now owns 5,709,604 shares of the energy producer’s stock worth $653,065,000 after buying an additional 109,885 shares in the last quarter. Finally, Boston Partners boosted its stake in ConocoPhillips by 10.3% during the first quarter. Boston Partners now owns 4,451,796 shares of the energy producer’s stock worth $567,111,000 after buying an additional 415,878 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on COP shares. Wolfe Research assumed coverage on shares of ConocoPhillips in a report on Thursday, July 18th. They set an “outperform” rating and a $145.00 price objective for the company. StockNews.com downgraded ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Mizuho dropped their target price on ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating for the company in a report on Monday, September 16th. BMO Capital Markets boosted their price target on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Finally, Scotiabank dropped their price objective on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $136.94.

Insider Buying and Selling

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the transaction, the director now owns 455,909 shares in the company, valued at approximately $49,288,321.99. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.34% of the stock is owned by insiders.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $105.67 on Friday. The business’s 50-day simple moving average is $109.01 and its 200 day simple moving average is $114.78. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34. The stock has a market cap of $122.71 billion, a price-to-earnings ratio of 11.78, a P/E/G ratio of 0.87 and a beta of 1.21. ConocoPhillips has a 12-month low of $101.29 and a 12-month high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, topping the consensus estimate of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The company had revenue of $14.14 billion during the quarter, compared to analysts’ expectations of $14.96 billion. During the same quarter in the previous year, the company earned $1.84 EPS. ConocoPhillips’s revenue was up 9.7% on a year-over-year basis. As a group, research analysts anticipate that ConocoPhillips will post 7.99 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were given a $0.58 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.32 annualized dividend and a dividend yield of 2.20%. ConocoPhillips’s dividend payout ratio is currently 25.86%.

ConocoPhillips Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.