Angeles Wealth Management LLC Raises Holdings in ConocoPhillips (NYSE:COP)

Angeles Wealth Management LLC boosted its stake in shares of ConocoPhillips (NYSE:COP) by 1.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,954 shares of the energy producer’s stock after purchasing an additional 134 shares during the quarter. Angeles Wealth Management LLC’s holdings in ConocoPhillips were worth $837,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its holdings in shares of ConocoPhillips by 35.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock valued at $4,097,473,000 after acquiring an additional 8,479,963 shares during the last quarter. Capital International Investors increased its holdings in shares of ConocoPhillips by 9.6% in the 1st quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock valued at $2,705,059,000 after acquiring an additional 1,856,085 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of ConocoPhillips by 4.6% in the 2nd quarter. Legal & General Group Plc now owns 9,900,596 shares of the energy producer’s stock valued at $1,132,430,000 after acquiring an additional 438,241 shares during the last quarter. Diamond Hill Capital Management Inc. increased its holdings in shares of ConocoPhillips by 2.0% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 5,709,604 shares of the energy producer’s stock valued at $653,065,000 after acquiring an additional 109,885 shares during the last quarter. Finally, Boston Partners increased its holdings in shares of ConocoPhillips by 10.3% in the 1st quarter. Boston Partners now owns 4,451,796 shares of the energy producer’s stock valued at $567,111,000 after acquiring an additional 415,878 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Mizuho raised their price target on ConocoPhillips from $129.00 to $132.00 and gave the stock a “neutral” rating in a research note on Friday. JPMorgan Chase & Co. restated a “neutral” rating and set a $126.00 price target (down previously from $139.00) on shares of ConocoPhillips in a research note on Friday, October 11th. Royal Bank of Canada restated an “outperform” rating and set a $140.00 price target on shares of ConocoPhillips in a research note on Friday, September 13th. BMO Capital Markets raised their price target on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Finally, Wolfe Research assumed coverage on ConocoPhillips in a research note on Thursday, July 18th. They set an “outperform” rating and a $145.00 price target on the stock. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.47.

ConocoPhillips Price Performance

Shares of COP traded down $1.70 during mid-day trading on Friday, hitting $107.84. The company’s stock had a trading volume of 7,428,060 shares, compared to its average volume of 5,312,024. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. The firm has a 50-day simple moving average of $107.94 and a 200 day simple moving average of $112.90. The firm has a market capitalization of $125.23 billion, a P/E ratio of 12.82, a P/E/G ratio of 0.90 and a beta of 1.21. ConocoPhillips has a 1-year low of $101.29 and a 1-year high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating the consensus estimate of $1.68 by $0.10. The business had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same period last year, the firm earned $2.16 EPS. Analysts predict that ConocoPhillips will post 7.76 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be issued a dividend of $0.78 per share. The ex-dividend date is Friday, November 8th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.89%. ConocoPhillips’s payout ratio is currently 37.10%.

Insiders Place Their Bets

In other news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the sale, the director now owns 455,909 shares of the company’s stock, valued at $49,288,321.99. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.34% of the stock is currently owned by company insiders.

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.