Strategic Financial Concepts LLC Makes New Investment in ConocoPhillips (NYSE:COP)

Strategic Financial Concepts LLC purchased a new stake in ConocoPhillips (NYSE:COP - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,168 shares of the energy producer's stock, valued at approximately $314,000.

Other institutional investors have also recently added to or reduced their stakes 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 worth $10,902,000 after acquiring an additional 31,011 shares during the last quarter. Leavell Investment Management Inc. grew its holdings in ConocoPhillips by 59.8% during the 4th quarter. Leavell Investment Management Inc. now owns 19,166 shares of the energy producer's stock worth $1,901,000 after acquiring an additional 7,174 shares during the last quarter. Brookstone Capital Management grew its holdings in ConocoPhillips by 4.5% during the 4th quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer's stock worth $878,000 after acquiring an additional 383 shares during the last quarter. Prospera Financial Services Inc grew its holdings in ConocoPhillips by 23.6% during the 3rd quarter. Prospera Financial Services Inc now owns 71,097 shares of the energy producer's stock worth $7,488,000 after acquiring an additional 13,595 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake 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 valued at $262,094,000 after purchasing an additional 46,621 shares during the last quarter. 82.36% of the stock is owned by institutional investors.

Insider Activity

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

ConocoPhillips Stock Down 4.0 %

COP traded down $4.10 during trading on Friday, hitting $97.90. 8,561,843 shares of the company's stock were exchanged, compared to its average volume of 6,781,136. The business's 50 day moving average is $100.17 and its two-hundred day moving average is $105.48. The stock has a market cap of $124.57 billion, a P/E ratio of 12.57, a PEG ratio of 0.78 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 fifty-two week low of $94.23 and a fifty-two week high of $135.18.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its 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, equities analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 17th will be issued a $0.78 dividend. The ex-dividend date is Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.19%. ConocoPhillips's dividend payout ratio is currently 40.05%.

Analysts Set New Price Targets

COP has been the topic of a number of analyst reports. 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. Wells Fargo & Company reduced their price objective on shares of ConocoPhillips from $132.00 to $128.00 and set an "overweight" rating on the stock in a research note on Monday, February 10th. Barclays reduced their price objective on shares of ConocoPhillips from $137.00 to $135.00 and set an "overweight" rating on the stock in a research note on Monday, February 10th. Morgan Stanley initiated coverage on shares of ConocoPhillips in a research note on Monday, December 16th. They issued an "overweight" rating and a $128.00 price objective on the stock. Finally, UBS Group reduced their price objective on shares of ConocoPhillips from $140.00 to $137.00 and set a "buy" rating on the stock in a research note on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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.