Argonautica Private Wealth Management Inc. Grows Stock Holdings in ConocoPhillips (NYSE:COP)

Argonautica Private Wealth Management Inc. grew its position in ConocoPhillips (NYSE:COP) by 20.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 22,214 shares of the energy producer’s stock after buying an additional 3,814 shares during the period. Argonautica Private Wealth Management Inc.’s holdings in ConocoPhillips were worth $2,203,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Advisor OS LLC boosted its stake in ConocoPhillips by 13.1% in the fourth quarter. Advisor OS LLC now owns 4,123 shares of the energy producer’s stock valued at $409,000 after acquiring an additional 477 shares in the last quarter. Richard Bernstein Advisors LLC lifted its holdings in shares of ConocoPhillips by 45.1% during the 4th quarter. Richard Bernstein Advisors LLC now owns 45,539 shares of the energy producer’s stock valued at $4,516,000 after purchasing an additional 14,151 shares during the last quarter. Lake Street Advisors Group LLC boosted its position in shares of ConocoPhillips by 31.7% in the 4th quarter. Lake Street Advisors Group LLC now owns 10,931 shares of the energy producer’s stock worth $1,084,000 after purchasing an additional 2,634 shares in the last quarter. Pinnacle West Asset Management Inc. grew its stake in ConocoPhillips by 1.2% during the 4th quarter. Pinnacle West Asset Management Inc. now owns 10,185 shares of the energy producer’s stock worth $1,010,000 after buying an additional 125 shares during the last quarter. Finally, Canton Hathaway LLC acquired a new position in ConocoPhillips during the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Down 1.9 %

ConocoPhillips stock opened at $96.99 on Wednesday. The business’s 50-day moving average price is $100.07 and its 200 day moving average price is $105.28. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The firm has a market cap of $123.41 billion, a price-to-earnings ratio of 12.45, a price-to-earnings-growth ratio of 0.79 and a beta of 1.18. ConocoPhillips has a 52 week low of $94.23 and a 52 week high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. As a group, sell-side analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 17th will be issued a $0.78 dividend. The ex-dividend date is Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.22%. ConocoPhillips’s payout ratio is 40.05%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on COP shares. Raymond James downgraded ConocoPhillips from a “strong-buy” rating to an “outperform” rating and lowered their price target for the stock from $157.00 to $124.00 in a report on Monday, February 10th. Evercore ISI reiterated an “outperform” rating and issued a $165.00 target price on shares of ConocoPhillips in a research note on Friday, December 6th. Barclays cut their price target on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. TD Cowen started coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They set a “buy” rating and a $125.00 price objective for the company. Finally, Wells Fargo & Company dropped their price objective on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus price target of $133.47.

Insiders Place Their Bets

In other ConocoPhillips news, Director Arjun N. Murti purchased 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was purchased at an average price of $95.87 per share, for a total transaction 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 trade represents a 13.16 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director R A. Walker purchased 10,400 shares of the stock in a transaction on Tuesday, December 17th. The shares were acquired at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the transaction, the director now directly owns 38,000 shares of the company’s stock, valued at $3,716,400. This represents a 37.68 % increase in their position. The disclosure for this purchase can be found here. 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.