Tulsa Wealth Advisors INC Purchases Shares of 34,615 ConocoPhillips $COP

Tulsa Wealth Advisors INC purchased a new position in ConocoPhillips (NYSE:COP) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 34,615 shares of the energy producer’s stock, valued at approximately $3,240,000. ConocoPhillips makes up about 1.1% of Tulsa Wealth Advisors INC’s portfolio, making the stock its 27th largest holding.

A number of other large investors have also modified their holdings of COP. Victory Capital Management Inc. lifted its stake in ConocoPhillips by 14.7% in the third quarter. Victory Capital Management Inc. now owns 2,331,176 shares of the energy producer’s stock worth $220,506,000 after acquiring an additional 298,245 shares during the last quarter. Natixis Advisors LLC increased its position in shares of ConocoPhillips by 8.7% in the 3rd quarter. Natixis Advisors LLC now owns 1,996,426 shares of the energy producer’s stock valued at $188,842,000 after purchasing an additional 160,410 shares during the last quarter. Concurrent Investment Advisors LLC raised its holdings in shares of ConocoPhillips by 31.2% in the 4th quarter. Concurrent Investment Advisors LLC now owns 86,171 shares of the energy producer’s stock valued at $8,067,000 after purchasing an additional 20,501 shares in the last quarter. SPX Gestao de Recursos Ltda acquired a new stake in shares of ConocoPhillips in the 3rd quarter valued at $1,892,000. Finally, D.A. Davidson & CO. lifted its position in shares of ConocoPhillips by 10.5% during the 4th quarter. D.A. Davidson & CO. now owns 155,662 shares of the energy producer’s stock worth $14,572,000 after purchasing an additional 14,833 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insider Buying and Selling at ConocoPhillips

In other news, CEO Ryan Michael Lance sold 113,221 shares of the stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $132.71, for a total transaction of $15,025,558.91. Following the completion of the sale, the chief executive officer owned 350,000 shares in the company, valued at approximately $46,448,500. This represents a 24.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kelly Brunetti Rose sold 7,700 shares of the firm’s stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $130.03, for a total value of $1,001,231.00. Following the transaction, the senior vice president directly owned 25,284 shares in the company, valued at approximately $3,287,678.52. This represents a 23.34% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 127,915 shares of company stock worth $16,915,448. 0.09% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on COP. Royal Bank Of Canada boosted their target price on shares of ConocoPhillips from $118.00 to $152.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 8th. Zacks Research downgraded ConocoPhillips from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. Citigroup upped their price objective on ConocoPhillips from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. BMO Capital Markets reduced their price objective on shares of ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. Finally, Jefferies Financial Group upped their target price on shares of ConocoPhillips from $160.00 to $161.00 and gave the company a “buy” rating in a report on Monday, May 18th. Seventeen analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus price target of $134.48.

ConocoPhillips Price Performance

COP stock opened at $107.92 on Friday. The company has a market capitalization of $131.48 billion, a P/E ratio of 18.32, a PEG ratio of 1.19 and a beta of 0.11. ConocoPhillips has a twelve month low of $85.57 and a twelve month high of $135.87. The business has a 50 day simple moving average of $118.65 and a 200-day simple moving average of $111.25. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The business had revenue of $15.76 billion for the quarter, compared to analysts’ expectations of $15.62 billion. During the same period in the previous year, the company posted $2.09 EPS. The company’s quarterly revenue was down 6.1% on a year-over-year basis. As a group, equities analysts anticipate that ConocoPhillips will post 10.03 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 11th were given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Monday, May 11th. ConocoPhillips’s dividend payout ratio (DPR) is presently 57.05%.

About ConocoPhillips

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.