Pinnacle West Asset Management Inc. Boosts Stock Holdings in ConocoPhillips (NYSE:COP)

Pinnacle West Asset Management Inc. grew its holdings in ConocoPhillips (NYSE:COP) by 1.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,185 shares of the energy producer’s stock after acquiring an additional 125 shares during the period. Pinnacle West Asset Management Inc.’s holdings in ConocoPhillips were worth $1,010,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Tidal Investments LLC grew its holdings in ConocoPhillips by 42.7% during the 3rd quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer’s stock valued at $10,902,000 after purchasing an additional 31,011 shares in the last quarter. Leavell Investment Management Inc. lifted its position in shares of ConocoPhillips by 59.8% in the 4th quarter. Leavell Investment Management Inc. now owns 19,166 shares of the energy producer’s stock worth $1,901,000 after buying an additional 7,174 shares during the last quarter. Brookstone Capital Management lifted its position in shares of ConocoPhillips by 4.5% in the 4th quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer’s stock worth $878,000 after buying an additional 383 shares during the last quarter. Prospera Financial Services Inc lifted its position in shares of ConocoPhillips by 23.6% in the 3rd quarter. Prospera Financial Services Inc now owns 71,097 shares of the energy producer’s stock worth $7,488,000 after buying an additional 13,595 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of ConocoPhillips by 1.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,489,514 shares of the energy producer’s stock worth $262,094,000 after buying an additional 46,621 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Down 1.9 %

Shares of NYSE:COP opened at $96.99 on Wednesday. ConocoPhillips has a 12 month low of $94.23 and a 12 month high of $135.18. The company’s 50-day moving average price is $100.07 and its two-hundred day moving average price is $105.28. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The firm has a market cap of $123.41 billion, a P/E ratio of 12.45, a P/E/G ratio of 0.79 and a beta of 1.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data 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%. As a group, research analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 17th will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend is Friday, February 14th. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. TD Cowen assumed coverage on shares of ConocoPhillips in a research report on Friday, January 17th. They issued a “buy” rating and a $125.00 price objective on the stock. Evercore ISI reiterated an “outperform” rating and issued a $165.00 price objective on shares of ConocoPhillips in a research report on Friday, December 6th. Barclays dropped their price target on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. The Goldman Sachs Group set a $132.00 price target on shares of ConocoPhillips in a research report on Thursday, January 30th. Finally, Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $132.00 to $134.00 in a research note on Monday, December 16th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and an average target price of $133.47.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, Director R A. Walker acquired 10,400 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were acquired at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the transaction, the director now directly owns 38,000 shares in the company, valued at $3,716,400. This trade represents a 37.68 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Arjun N. Murti acquired 2,500 shares of the business’s 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 transaction, the director now owns 21,500 shares of the company’s stock, 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. 0.34% of the stock is currently owned by corporate insiders.

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.