Institute for Wealth Management LLC. Sells 344 Shares of ConocoPhillips (NYSE:COP)

Institute for Wealth Management LLC. trimmed its position in ConocoPhillips (NYSE:COP) by 3.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 10,309 shares of the energy producer’s stock after selling 344 shares during the period. Institute for Wealth Management LLC.’s holdings in ConocoPhillips were worth $1,197,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Norris Perne & French LLP MI grew its position in ConocoPhillips by 1.9% in the 3rd quarter. Norris Perne & French LLP MI now owns 4,364 shares of the energy producer’s stock worth $523,000 after purchasing an additional 80 shares in the last quarter. Sloy Dahl & Holst LLC boosted its stake in ConocoPhillips by 3.3% in the third quarter. Sloy Dahl & Holst LLC now owns 2,629 shares of the energy producer’s stock valued at $315,000 after acquiring an additional 85 shares during the last quarter. KLCM Advisors Inc. boosted its stake in ConocoPhillips by 2.8% in the third quarter. KLCM Advisors Inc. now owns 3,305 shares of the energy producer’s stock valued at $396,000 after acquiring an additional 89 shares during the last quarter. Evergreen Capital Management LLC boosted its stake in ConocoPhillips by 0.5% in the third quarter. Evergreen Capital Management LLC now owns 18,944 shares of the energy producer’s stock valued at $2,270,000 after acquiring an additional 89 shares during the last quarter. Finally, Endowment Wealth Management Inc. boosted its stake in ConocoPhillips by 4.6% in the third quarter. Endowment Wealth Management Inc. now owns 2,055 shares of the energy producer’s stock valued at $246,000 after acquiring an additional 90 shares during the last quarter. 82.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on COP shares. Raymond James dropped their target price on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. Barclays started coverage on shares of ConocoPhillips in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $158.00 target price on the stock. UBS Group boosted their target price on shares of ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Morgan Stanley upped their price target on shares of ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Finally, Piper Sandler upped their price target on shares of ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research note on Thursday. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $142.00.

ConocoPhillips Price Performance

Shares of NYSE:COP opened at $129.39 on Friday. The company’s fifty day moving average price is $120.56 and its 200-day moving average price is $117.17. The firm has a market capitalization of $152.22 billion, a price-to-earnings ratio of 14.28, a PEG ratio of 2.74 and a beta of 1.24. ConocoPhillips has a one year low of $95.70 and a one year high of $135.18. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.29.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.32. The firm had revenue of $15.31 billion for the quarter, compared to analyst estimates of $14.47 billion. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. During the same quarter in the prior year, the firm earned $2.71 EPS. On average, equities research analysts anticipate that ConocoPhillips will post 9.35 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were issued a dividend of $0.78 per share. The ex-dividend date was Thursday, February 15th. This represents a $3.12 annualized dividend and a dividend yield of 2.41%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is currently 25.61%.

Insider Activity at ConocoPhillips

In related news, EVP Nicholas G. Olds sold 12,150 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the transaction, the executive vice president now owns 14,522 shares of the company’s stock, valued at approximately $1,836,161.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Nicholas G. Olds sold 12,150 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the transaction, the executive vice president now owns 14,522 shares of the company’s stock, valued at approximately $1,836,161.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Christopher P. Delk sold 8,505 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total transaction of $953,070.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 700,775 shares of company stock valued at $87,615,169. Insiders own 0.34% of the company’s stock.

ConocoPhillips 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.