Parisi Gray Wealth Management Has $488,000 Position in ConocoPhillips (NYSE:COP)

Parisi Gray Wealth Management lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 98.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,208 shares of the energy producer’s stock after purchasing an additional 2,083 shares during the period. Parisi Gray Wealth Management’s holdings in ConocoPhillips were worth $488,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bayesian Capital Management LP bought a new position in shares of ConocoPhillips in the second quarter worth $5,592,000. Guidance Capital Inc. purchased a new position in shares of ConocoPhillips in the second quarter worth about $599,000. Bollard Group LLC increased its holdings in shares of ConocoPhillips by 1.0% in the second quarter. Bollard Group LLC now owns 130,043 shares of the energy producer’s stock worth $13,474,000 after buying an additional 1,233 shares during the period. Capital Investment Counsel Inc purchased a new position in ConocoPhillips during the 3rd quarter valued at about $228,000. Finally, Columbia Trust Co 01012016 increased its holdings in ConocoPhillips by 1.2% during the 4th quarter. Columbia Trust Co 01012016 now owns 9,463 shares of the energy producer’s stock valued at $1,098,000 after purchasing an additional 112 shares during the period. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Up 0.1 %

Shares of NYSE:COP traded up $0.16 during trading on Thursday, reaching $127.00. 363,197 shares of the company were exchanged, compared to its average volume of 5,704,928. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.29. The business’s fifty day simple moving average is $113.49 and its 200-day simple moving average is $116.01. ConocoPhillips has a 12-month low of $95.70 and a 12-month high of $128.64. The firm has a market capitalization of $149.40 billion, a PE ratio of 14.00, a P/E/G ratio of 2.87 and a beta of 1.23.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.32. The company had revenue of $15.31 billion during the quarter, compared to the consensus estimate of $14.47 billion. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. During the same period last year, the firm earned $2.71 earnings per share. On average, research analysts anticipate that ConocoPhillips will post 8.79 EPS for the current 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. This represents a $3.12 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend was Thursday, February 15th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is 25.61%.

Insider Buying and Selling

In other ConocoPhillips news, SVP Heather G. Hrap sold 4,548 shares of ConocoPhillips stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total value of $502,781.40. Following the completion of the transaction, the senior vice president now owns 2,654 shares of the company’s stock, valued at $293,399.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other ConocoPhillips news, VP Christopher P. Delk sold 8,505 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total value of $953,070.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Heather G. Hrap sold 4,548 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total transaction of $502,781.40. Following the completion of the transaction, the senior vice president now owns 2,654 shares in the company, valued at $293,399.70. The disclosure for this sale can be found here. Insiders sold a total of 700,775 shares of company stock valued at $87,615,169 over the last 90 days. Insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

COP has been the topic of a number of research analyst reports. Scotiabank boosted their price target on ConocoPhillips from $115.00 to $120.00 and gave the company a “sector perform” rating in a report on Friday, February 9th. Mizuho reissued a “neutral” rating and issued a $139.00 price target (up from $132.00) on shares of ConocoPhillips in a research report on Friday, March 22nd. Piper Sandler decreased their price objective on shares of ConocoPhillips from $139.00 to $133.00 and set an “overweight” rating for the company in a report on Thursday, March 14th. Johnson Rice lowered shares of ConocoPhillips from an “accumulate” rating to a “hold” rating in a report on Thursday, December 14th. Finally, UBS Group boosted their price objective on shares of ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $135.12.

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.