Centricity Wealth Management LLC Makes New Investment in ConocoPhillips (NYSE:COP)

Centricity Wealth Management LLC acquired a new position in shares of ConocoPhillips (NYSE:COP) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 275 shares of the energy producer’s stock, valued at approximately $27,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Cypress Capital Group lifted its stake in shares of ConocoPhillips by 0.5% during the third quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock worth $1,978,000 after purchasing an additional 96 shares in the last quarter. Orrstown Financial Services Inc. lifted its stake in shares of ConocoPhillips by 3.0% during the fourth quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer’s stock worth $331,000 after purchasing an additional 96 shares in the last quarter. Smithfield Trust Co lifted its stake in shares of ConocoPhillips by 3.3% during the third quarter. Smithfield Trust Co now owns 3,132 shares of the energy producer’s stock worth $332,000 after purchasing an additional 100 shares in the last quarter. Principle Wealth Partners LLC lifted its stake in shares of ConocoPhillips by 0.3% during the fourth quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer’s stock worth $3,695,000 after purchasing an additional 100 shares in the last quarter. Finally, Verus Capital Partners LLC lifted its stake in shares of ConocoPhillips by 2.0% during the third quarter. Verus Capital Partners LLC now owns 5,137 shares of the energy producer’s stock worth $541,000 after purchasing an additional 102 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Activity

In other ConocoPhillips news, Director R A. Walker acquired 10,400 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was acquired at an average cost 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. This represents a 37.68 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 cost of $95.87 per share, with a total value of $239,675.00. Following the completion of the acquisition, the director now directly owns 21,500 shares in the company, valued at approximately $2,061,205. This represents a 13.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. Susquehanna boosted their price target on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. Evercore ISI reiterated an “outperform” rating and issued a $165.00 price target on shares of ConocoPhillips in a research note on Friday, December 6th. The Goldman Sachs Group set a $132.00 price target on ConocoPhillips in a research note on Thursday, January 30th. Morgan Stanley assumed coverage on ConocoPhillips in a research note on Monday, December 16th. They issued an “overweight” rating and a $128.00 price target on the stock. Finally, Raymond James cut ConocoPhillips from a “strong-buy” rating to an “outperform” rating and cut their price target for the stock from $157.00 to $124.00 in a research note on Monday, February 10th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and an average price target of $133.47.

ConocoPhillips Trading Down 4.0 %

Shares of NYSE COP opened at $97.90 on Friday. The stock’s 50 day moving average price is $100.11 and its two-hundred day moving average price is $105.44. ConocoPhillips has a 52-week low of $94.23 and a 52-week high of $135.18. The stock has a market capitalization of $124.57 billion, a P/E ratio of 12.57, a PEG ratio of 0.79 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 (NYSE:COP) last posted 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 return on equity of 17.26% and a net margin of 16.23%. On average, analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business 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 dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.19%. The ex-dividend date is Friday, February 14th. ConocoPhillips’s dividend payout ratio (DPR) 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.