Oppenheimer & Co. Inc. Trims Stake in ConocoPhillips (NYSE:COP)

Oppenheimer & Co. Inc. lowered its position in ConocoPhillips (NYSE:COP) by 16.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,040 shares of the energy producer’s stock after selling 12,012 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in ConocoPhillips were worth $6,053,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in COP. Gulf International Bank UK Ltd increased its stake in ConocoPhillips by 10.6% in the 4th quarter. Gulf International Bank UK Ltd now owns 102,232 shares of the energy producer’s stock worth $10,138,000 after buying an additional 9,804 shares during the period. New York Life Investment Management LLC increased its stake in ConocoPhillips by 12.0% in the 4th quarter. New York Life Investment Management LLC now owns 173,315 shares of the energy producer’s stock worth $17,188,000 after buying an additional 18,617 shares during the period. Nwam LLC increased its stake in ConocoPhillips by 35.7% in the 4th quarter. Nwam LLC now owns 6,223 shares of the energy producer’s stock worth $617,000 after buying an additional 1,636 shares during the period. Heritage Investors Management Corp increased its stake in ConocoPhillips by 4.0% in the 4th quarter. Heritage Investors Management Corp now owns 206,515 shares of the energy producer’s stock worth $20,480,000 after buying an additional 7,935 shares during the period. Finally, Whipplewood Advisors LLC purchased a new position in ConocoPhillips in the 4th quarter worth about $64,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insiders Place Their Bets

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

ConocoPhillips Stock Up 1.8 %

COP stock opened at $99.12 on Friday. The firm has a 50 day moving average of $100.19 and a 200 day moving average of $105.08. The stock has a market capitalization of $126.12 billion, a PE ratio of 12.72, a price-to-earnings-growth ratio of 0.79 and a beta of 1.18. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 52 week low of $94.23 and a 52 week high of $135.18.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. Sell-side analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 17th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend is Friday, February 14th. ConocoPhillips’s dividend payout ratio is presently 40.05%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Morgan Stanley assumed coverage on shares of ConocoPhillips in a research note on Monday, December 16th. They issued an “overweight” rating and a $128.00 price target on the stock. Raymond James downgraded shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and cut their target price for the company from $157.00 to $124.00 in a research report on Monday, February 10th. JPMorgan Chase & Co. raised shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and raised their target price for the company from $120.00 to $123.00 in a research report on Thursday, December 5th. UBS Group cut their target price on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. Finally, TD Cowen initiated coverage on shares of ConocoPhillips in a research report on Friday, January 17th. They set a “buy” rating and a $125.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $133.47.

About ConocoPhillips

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.