Heritage Wealth Management Inc. Grows Position in ConocoPhillips (NYSE:COP)

Heritage Wealth Management Inc. grew its stake in shares of ConocoPhillips (NYSE:COP) by 134.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,861 shares of the energy producer’s stock after buying an additional 14,840 shares during the period. ConocoPhillips accounts for approximately 0.9% of Heritage Wealth Management Inc.’s portfolio, making the stock its 23rd largest holding. Heritage Wealth Management Inc.’s holdings in ConocoPhillips were worth $2,565,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Albion Financial Group UT increased its position in shares of ConocoPhillips by 876.9% during the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after buying an additional 228 shares during the period. Centricity Wealth Management LLC bought a new stake in shares of ConocoPhillips during the fourth quarter valued at about $27,000. Reston Wealth Management LLC bought a new stake in shares of ConocoPhillips during the third quarter valued at about $31,000. Truvestments Capital LLC bought a new stake in shares of ConocoPhillips during the third quarter valued at about $31,000. Finally, Global Wealth Strategies & Associates increased its position in shares of ConocoPhillips by 80.5% during the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after buying an additional 153 shares during the period. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Performance

NYSE:COP opened at $99.12 on Friday. The firm has a market cap of $126.12 billion, a PE ratio of 12.72, a price-to-earnings-growth ratio of 0.79 and a beta of 1.18. ConocoPhillips has a fifty-two week low of $94.23 and a fifty-two week high of $135.18. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. The business has a 50 day moving average price of $100.19 and a 200-day moving average price of $105.06.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results 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 return on equity of 17.26% and a net margin of 16.23%. Equities research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 17th will be paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date is Friday, February 14th. ConocoPhillips’s payout ratio is 40.05%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on COP. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and upped their price target for the company from $132.00 to $134.00 in a research report on Monday, December 16th. Morgan Stanley started coverage on shares of ConocoPhillips in a research report on Monday, December 16th. They issued an “overweight” rating and a $128.00 price objective on the stock. Wells Fargo & Company decreased their price objective on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $120.00 to $123.00 in a research report on Thursday, December 5th. Finally, Raymond James cut shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the stock from $157.00 to $124.00 in a research report on Monday, February 10th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average price target of $133.47.

Insider Buying and Selling

In other news, Director R A. Walker acquired 10,400 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was acquired at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the acquisition, the director now owns 38,000 shares in the company, valued at $3,716,400. This trade represents a 37.68 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Arjun N. Murti acquired 2,500 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was purchased at an average price of $95.87 per share, with a total value of $239,675.00. Following the acquisition, the director now owns 21,500 shares of the company’s stock, valued at $2,061,205. This represents a 13.16 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by insiders.

ConocoPhillips Company 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.