Legacy Wealth Management LLC MS Buys 1,301 Shares of ConocoPhillips (NYSE:COP)

Legacy Wealth Management LLC MS boosted its stake in shares of ConocoPhillips (NYSE:COP) by 20.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,730 shares of the energy producer’s stock after acquiring an additional 1,301 shares during the period. Legacy Wealth Management LLC MS’s holdings in ConocoPhillips were worth $767,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. General Partner Inc. grew its position in shares of ConocoPhillips by 50.5% during the fourth quarter. General Partner Inc. now owns 2,232 shares of the energy producer’s stock valued at $221,000 after purchasing an additional 749 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of ConocoPhillips by 38.0% during the 4th quarter. GAMMA Investing LLC now owns 28,123 shares of the energy producer’s stock worth $2,789,000 after acquiring an additional 7,739 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of ConocoPhillips by 46.4% in the fourth quarter. Versant Capital Management Inc now owns 4,439 shares of the energy producer’s stock valued at $440,000 after purchasing an additional 1,406 shares in the last quarter. Peirce Capital Management LLC raised its stake in ConocoPhillips by 69.6% during the fourth quarter. Peirce Capital Management LLC now owns 4,534 shares of the energy producer’s stock valued at $450,000 after purchasing an additional 1,860 shares in the last quarter. Finally, Global Wealth Strategies & Associates grew its stake in shares of ConocoPhillips by 80.5% in the 4th 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 Price Performance

Shares of NYSE COP traded up $0.87 during trading on Monday, hitting $101.96. The company had a trading volume of 817,109 shares, compared to its average volume of 3,712,715. The firm has a market capitalization of $117.35 billion, a price-to-earnings ratio of 12.12, a price-to-earnings-growth ratio of 0.83 and a beta of 1.18. The stock has a fifty day simple moving average of $104.79 and a two-hundred day simple moving average of $108.12. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. ConocoPhillips has a fifty-two week low of $94.23 and a fifty-two week high of $135.18.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The business had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. During the same quarter last year, the business posted $2.16 earnings per share. The business’s quarterly revenue was down 8.5% compared to the same quarter last year. On average, research analysts expect that ConocoPhillips will post 7.77 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were issued a $0.78 dividend. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a yield of 3.06%. ConocoPhillips’s dividend payout ratio is presently 37.10%.

Insiders Place Their Bets

In other ConocoPhillips news, Director Arjun N. Murti bought 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were purchased at an average cost of $95.87 per share, with a total value of $239,675.00. Following the purchase, 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director R A. Walker purchased 10,400 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 38,000 shares in the company, valued at $3,716,400. This trade represents a 37.68 % increase in their ownership of the stock. 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

COP has been the subject of a number of analyst reports. Scotiabank lowered their price target on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. BMO Capital Markets lifted their price objective on shares of ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and upped their price target for the company from $132.00 to $134.00 in a report on Monday, December 16th. Barclays increased their target price on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, Evercore ISI reissued an “outperform” rating and set a $165.00 price target on shares of ConocoPhillips in a research report on Friday, December 6th. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $136.71.

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.