Essex Financial Services Inc. Has $1.85 Million Position in ConocoPhillips (NYSE:COP)

Essex Financial Services Inc. raised its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 26.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,603 shares of the energy producer's stock after buying an additional 3,854 shares during the period. Essex Financial Services Inc.'s holdings in ConocoPhillips were worth $1,845,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in COP. Albion Financial Group UT raised its position in ConocoPhillips by 876.9% in the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer's stock worth $25,000 after acquiring an additional 228 shares in the last quarter. Values First Advisors Inc. acquired a new position in shares of ConocoPhillips in the 3rd quarter worth approximately $26,000. Reston Wealth Management LLC bought a new stake in shares of ConocoPhillips in the 3rd quarter worth approximately $31,000. Truvestments Capital LLC acquired a new stake in ConocoPhillips during the third quarter valued at approximately $31,000. Finally, Global Wealth Strategies & Associates boosted its holdings in ConocoPhillips by 80.5% during the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer's stock worth $34,000 after buying an additional 153 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Down 0.5 %

COP stock traded down $0.52 during mid-day trading on Friday, hitting $96.39. The stock had a trading volume of 7,959,626 shares, compared to its average volume of 5,701,314. ConocoPhillips has a 1-year low of $94.23 and a 1-year high of $135.18. The company has a fifty day moving average of $100.44 and a 200 day moving average of $105.76. The company has a current ratio of 1.29, a quick ratio of 1.16 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $110.93 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 0.77 and a beta of 1.18.

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ConocoPhillips (NYSE:COP - Get Free Report) last released 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 return on equity of 17.26% and a net margin of 16.23%. On average, equities analysts expect that ConocoPhillips will post 8.3 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors 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 3.24%. The ex-dividend date is Friday, February 14th. ConocoPhillips's payout ratio is presently 40.05%.

Insider Buying and Selling

In other news, Director R A. Walker acquired 10,400 shares of ConocoPhillips stock in a transaction dated Tuesday, December 17th. The stock was acquired at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the purchase, 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Arjun N. Murti bought 2,500 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was purchased at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the purchase, 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 corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Barclays cut their price objective on ConocoPhillips from $137.00 to $135.00 and set an "overweight" rating for the company in a research report on Monday, February 10th. Susquehanna upped their target price on ConocoPhillips from $144.00 to $148.00 and gave the company a "positive" rating in a report on Friday, November 1st. UBS Group dropped their price target on ConocoPhillips from $140.00 to $137.00 and set a "buy" rating on the stock in a research note on Wednesday. Raymond James lowered shares of ConocoPhillips from a "strong-buy" rating to an "outperform" rating and reduced their price objective for the company from $157.00 to $124.00 in a research note on Monday, February 10th. Finally, Morgan Stanley assumed coverage on shares of ConocoPhillips in a research report on Monday, December 16th. They issued an "overweight" rating and a $128.00 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 issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $133.56.

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.