2,578 Shares in ConocoPhillips (NYSE:COP) Purchased by Wellspring Financial Advisors LLC

Wellspring Financial Advisors LLC acquired a new position in shares of ConocoPhillips (NYSE:COP) during the 4th quarter, HoldingsChannel reports. The institutional investor acquired 2,578 shares of the energy producer’s stock, valued at approximately $256,000.

A number of other hedge funds also recently bought and sold shares of COP. Cerity Partners LLC increased its position in shares of ConocoPhillips by 26.4% in the fourth quarter. Cerity Partners LLC now owns 337,878 shares of the energy producer’s stock worth $33,808,000 after acquiring an additional 70,549 shares in the last quarter. Trek Financial LLC boosted its stake in ConocoPhillips by 49.8% in the 4th quarter. Trek Financial LLC now owns 12,578 shares of the energy producer’s stock worth $1,247,000 after purchasing an additional 4,182 shares during the period. FMR LLC boosted its stake in ConocoPhillips by 7.5% in the 4th quarter. FMR LLC now owns 4,277,367 shares of the energy producer’s stock worth $424,186,000 after purchasing an additional 299,319 shares during the period. Federated Hermes Inc. grew its position in ConocoPhillips by 0.9% during the 4th quarter. Federated Hermes Inc. now owns 331,975 shares of the energy producer’s stock worth $32,922,000 after purchasing an additional 2,883 shares in the last quarter. Finally, Sepio Capital LP raised its stake in ConocoPhillips by 14.6% during the 4th quarter. Sepio Capital LP now owns 2,725 shares of the energy producer’s stock valued at $270,000 after purchasing an additional 347 shares during the period. 82.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on COP. The Goldman Sachs Group set a $132.00 price target on ConocoPhillips in a report on Thursday, January 30th. Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $132.00 to $134.00 in a research note on Monday, December 16th. Wells Fargo & Company reduced their price target on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Raymond James cut shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and decreased their price target for the stock from $157.00 to $124.00 in a report on Monday, February 10th. Finally, TD Cowen initiated coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They issued a “buy” rating and a $125.00 price objective on the stock. Two investment 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $132.95.

ConocoPhillips Stock Down 9.5 %

Shares of ConocoPhillips stock opened at $86.18 on Monday. ConocoPhillips has a 12-month low of $81.34 and a 12-month 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. The stock has a 50 day moving average price of $98.53 and a two-hundred day moving average price of $103.06. The stock has a market capitalization of $108.95 billion, a P/E ratio of 11.06, a PEG ratio of 0.79 and a beta of 0.83.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping 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%. Equities analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were paid a $0.78 dividend. The ex-dividend date was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.62%. ConocoPhillips’s payout ratio is presently 40.05%.

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.