Coldstream Capital Management Inc. Makes New $1.57 Million Investment in ConocoPhillips (NYSE:COP)
Coldstream Capital Management Inc. acquired a new position in shares of ConocoPhillips (NYSE:COP – Get Rating) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 13,299 shares of the energy producer’s stock, valued at approximately $1,569,000.
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Several other institutional investors and hedge funds also recently bought and sold shares of the company. Gradient Investments LLC boosted its stake in ConocoPhillips by 11.3% during the fourth quarter. Gradient Investments LLC now owns 115,246 shares of the energy producer’s stock worth $13,599,000 after buying an additional 11,687 shares during the period. CWA Asset Management Group LLC boosted its stake in ConocoPhillips by 10.7% during the fourth quarter. CWA Asset Management Group LLC now owns 2,835 shares of the energy producer’s stock worth $335,000 after buying an additional 275 shares during the period. Align Wealth Management LLC purchased a new position in ConocoPhillips during the fourth quarter worth $106,000. Grandview Asset Management LLC boosted its stake in ConocoPhillips by 6.2% during the fourth quarter. Grandview Asset Management LLC now owns 2,432 shares of the energy producer’s stock worth $287,000 after buying an additional 142 shares during the period. Finally, Independence Bank of Kentucky boosted its stake in ConocoPhillips by 178.2% during the fourth quarter. Independence Bank of Kentucky now owns 1,725 shares of the energy producer’s stock worth $204,000 after buying an additional 1,105 shares during the period. 81.76% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other ConocoPhillips news, Director R A. Walker purchased 4,800 shares of the company’s stock in a transaction dated Wednesday, February 22nd. The shares were acquired at an average price of $103.00 per share, for a total transaction of $494,400.00. Following the completion of the purchase, the director now owns 27,600 shares of the company’s stock, valued at $2,842,800. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 0.08% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
COP has been the subject of several recent analyst reports. Credit Suisse Group dropped their price objective on shares of ConocoPhillips from $145.00 to $140.00 and set an “outperform” rating for the company in a research note on Friday, February 3rd. Societe Generale downgraded ConocoPhillips from a “hold” rating to a “sell” rating and lifted their target price for the stock from $106.00 to $114.00 in a research report on Monday, November 21st. They noted that the move was a valuation call. Citigroup decreased their target price on ConocoPhillips from $160.00 to $145.00 and set a “buy” rating for the company in a research report on Monday, February 27th. Argus lifted their target price on ConocoPhillips from $125.00 to $150.00 in a research report on Monday, November 21st. Finally, Barclays lifted their target price on ConocoPhillips from $151.00 to $160.00 and gave the stock an “overweight” rating in a research report on Monday, January 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average target price of $136.86.
ConocoPhillips Stock Performance
Shares of ConocoPhillips stock opened at $94.39 on Friday. The company has a market capitalization of $115.04 billion, a PE ratio of 6.51, a P/E/G ratio of 0.45 and a beta of 1.29. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.36 and a current ratio of 1.46. The company has a 50-day simple moving average of $111.37 and a two-hundred day simple moving average of $115.73. ConocoPhillips has a one year low of $78.30 and a one year high of $138.49.
ConocoPhillips (NYSE:COP – Get Rating) last announced its earnings results on Thursday, February 2nd. The energy producer reported $2.71 EPS for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.01). The firm had revenue of $19.26 billion during the quarter, compared to the consensus estimate of $18.16 billion. ConocoPhillips had a return on equity of 35.30% and a net margin of 22.74%. The business’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.27 earnings per share. Research analysts expect that ConocoPhillips will post 11.79 EPS for the current fiscal year.
ConocoPhillips Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, April 14th. Shareholders of record on Wednesday, March 29th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Tuesday, March 28th. This represents a $2.04 dividend on an annualized basis and a yield of 2.16%. ConocoPhillips’s dividend payout ratio is presently 14.06%.
About ConocoPhillips
ConocoPhillips engages in the exploration, production, transportation and marketing of crude oil, bitumen, natural gas, natural gas liquids, and liquefied natural gas on a worldwide basis. It operates through the following geographical segments: Alaska, Lower 48, Canada, Europe, Middle East and North Africa, Asia Pacific, and Other International.
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