Cornerstone Wealth Management LLC Has $1.38 Million Stock Position in ConocoPhillips (NYSE:COP)

Cornerstone Wealth Management LLC boosted its position in shares of ConocoPhillips (NYSE:COP) by 9.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,949 shares of the energy producer’s stock after purchasing an additional 1,239 shares during the period. Cornerstone Wealth Management LLC’s holdings in ConocoPhillips were worth $1,383,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Sustainable Insight Capital Management LLC acquired a new stake in ConocoPhillips during the fourth quarter valued at $486,000. Hengehold Capital Management LLC boosted its position in ConocoPhillips by 8.4% during the fourth quarter. Hengehold Capital Management LLC now owns 2,327 shares of the energy producer’s stock valued at $231,000 after purchasing an additional 181 shares during the last quarter. Montecito Bank & Trust raised its holdings in ConocoPhillips by 5.2% during the fourth quarter. Montecito Bank & Trust now owns 13,804 shares of the energy producer’s stock valued at $1,369,000 after buying an additional 684 shares in the last quarter. Cerro Pacific Wealth Advisors LLC raised its holdings in ConocoPhillips by 0.7% during the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 15,523 shares of the energy producer’s stock valued at $1,634,000 after buying an additional 105 shares in the last quarter. Finally, Lifestyle Asset Management Inc. raised its holdings in ConocoPhillips by 8.5% during the fourth quarter. Lifestyle Asset Management Inc. now owns 8,846 shares of the energy producer’s stock valued at $877,000 after buying an additional 691 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Ratings Changes

COP has been the topic of several recent research reports. Evercore ISI restated an “outperform” rating and set a $165.00 target price on shares of ConocoPhillips in a report on Friday, December 6th. BMO Capital Markets raised their target price on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Wells Fargo & Company cut their target price on ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating on the stock in a report on Tuesday, January 14th. Morgan Stanley started coverage on ConocoPhillips in a report on Monday, December 16th. They set an “overweight” rating and a $128.00 target price on the stock. Finally, Raymond James lifted their price objective on ConocoPhillips from $148.00 to $157.00 and gave the stock a “strong-buy” rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, ConocoPhillips has a consensus rating of “Buy” and an average target price of $135.89.

ConocoPhillips Trading Down 2.0 %

Shares of COP opened at $101.88 on Friday. ConocoPhillips has a 12-month low of $94.23 and a 12-month high of $135.18. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $117.26 billion, a price-to-earnings ratio of 12.11, a P/E/G ratio of 0.86 and a beta of 1.19. The stock’s 50-day moving average price is $103.19 and its 200 day moving average price is $107.20.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. The company had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company’s quarterly revenue was down 8.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.16 earnings per share. As a group, research analysts predict that ConocoPhillips will post 7.65 earnings per share for the current year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.06%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, November 8th. ConocoPhillips’s payout ratio is presently 37.10%.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, Director R A. Walker bought 10,400 shares of ConocoPhillips stock in a transaction dated Tuesday, December 17th. The shares were acquired at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the acquisition, the director now directly owns 38,000 shares of the company’s stock, valued at $3,716,400. The trade was a 37.68 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Arjun N. Murti bought 2,500 shares of ConocoPhillips stock in a transaction dated Friday, December 20th. The stock was acquired at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the acquisition, the director now directly owns 21,500 shares in the company, valued at $2,061,205. This represents a 13.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.34% of the company’s stock.

ConocoPhillips Company 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.