Vest Financial LLC Acquires 6,265 Shares of ConocoPhillips (NYSE:COP)

Vest Financial LLC lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 244.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,830 shares of the energy producer’s stock after buying an additional 6,265 shares during the quarter. Vest Financial LLC’s holdings in ConocoPhillips were worth $930,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of COP. Stephens Consulting LLC raised its position in shares of ConocoPhillips by 69.3% during the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 104 shares during the last quarter. Richardson Capital Management LLC bought a new stake in ConocoPhillips in the first quarter valued at about $31,000. Ruedi Wealth Management Inc. lifted its stake in ConocoPhillips by 150.0% in the first quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock valued at $32,000 after buying an additional 150 shares during the period. Valued Wealth Advisors LLC boosted its holdings in ConocoPhillips by 45.8% during the first quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock worth $33,000 after buying an additional 82 shares during the last quarter. Finally, Y.D. More Investments Ltd acquired a new position in shares of ConocoPhillips during the 2nd quarter worth about $35,000. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Trading Down 0.6 %

ConocoPhillips stock opened at $104.99 on Tuesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19. The firm has a 50-day moving average of $108.90 and a 200-day moving average of $114.48. The company has a market cap of $121.92 billion, a price-to-earnings ratio of 11.70, a P/E/G ratio of 0.87 and a beta of 1.21. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.02. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The firm had revenue of $14.14 billion during the quarter, compared to the consensus estimate of $14.96 billion. During the same period last year, the company earned $1.84 earnings per share. The business’s revenue was up 9.7% compared to the same quarter last year. On average, equities analysts expect that ConocoPhillips will post 7.99 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s dividend payout ratio (DPR) is currently 25.86%.

Insiders Place Their Bets

In other news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the transaction, the director now owns 455,909 shares of the company’s stock, valued at $49,288,321.99. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on COP shares. Sanford C. Bernstein reduced their price objective on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. UBS Group lowered their price objective on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Wolfe Research began coverage on ConocoPhillips in a report on Thursday, July 18th. They set an “outperform” rating and a $145.00 target price on the stock. BMO Capital Markets increased their price target on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $126.00 price objective (down previously from $139.00) on shares of ConocoPhillips in a report on Friday, October 11th. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average target price of $136.94.

About ConocoPhillips

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.