Prestige Wealth Management Group LLC Reduces Stock Holdings in ConocoPhillips (NYSE:COP)

Prestige Wealth Management Group LLC decreased its position in ConocoPhillips (NYSE:COP) by 25.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 914 shares of the energy producer’s stock after selling 304 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in ConocoPhillips were worth $91,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Albion Financial Group UT grew its stake in shares of ConocoPhillips by 876.9% during the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after acquiring an additional 228 shares in the last quarter. Centricity Wealth Management LLC purchased a new position in ConocoPhillips in the fourth quarter valued at about $27,000. Truvestments Capital LLC acquired a new stake in ConocoPhillips during the 3rd quarter valued at approximately $31,000. Crowley Wealth Management Inc. purchased a new stake in ConocoPhillips during the 4th quarter worth approximately $32,000. Finally, Global Wealth Strategies & Associates raised its position in shares of ConocoPhillips by 80.5% in the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after purchasing an additional 153 shares in the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on COP shares. Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $132.00 to $134.00 in a research report on Monday, December 16th. Morgan Stanley began coverage on shares of ConocoPhillips in a report on Monday, December 16th. They set an “overweight” rating and a $128.00 price objective for the company. Evercore ISI restated an “outperform” rating and issued a $165.00 target price on shares of ConocoPhillips in a research note on Friday, December 6th. UBS Group decreased their price target on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Finally, Barclays cut their price objective on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $133.05.

ConocoPhillips Stock Up 0.2 %

COP stock opened at $102.44 on Wednesday. The stock has a market cap of $130.34 billion, a PE ratio of 13.15, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12. The firm’s 50-day simple moving average is $99.12 and its 200 day simple moving average is $103.31. ConocoPhillips has a fifty-two week low of $86.81 and a fifty-two week high of $135.18. 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 (NYSE:COP) last announced its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, beating the consensus estimate 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, sell-side analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.05%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s payout ratio is currently 40.05%.

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.