Mill Creek Capital Advisors LLC Increases Position in ConocoPhillips (NYSE:COP)

Mill Creek Capital Advisors LLC raised its holdings in shares of ConocoPhillips (NYSE:COP) by 24.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,383 shares of the energy producer’s stock after purchasing an additional 663 shares during the period. Mill Creek Capital Advisors LLC’s holdings in ConocoPhillips were worth $335,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Values First Advisors Inc. bought a new position in ConocoPhillips during the 3rd quarter valued at approximately $26,000. Albion Financial Group UT grew its stake in shares of ConocoPhillips by 876.9% in the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after acquiring an additional 228 shares during the last quarter. Reston Wealth Management LLC bought a new position in shares of ConocoPhillips during the third quarter valued at $31,000. Truvestments Capital LLC purchased a new position in shares of ConocoPhillips in the 3rd quarter worth about $31,000. Finally, RPg Family Wealth Advisory LLC bought a new position in ConocoPhillips in the 3rd quarter worth about $35,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director R A. Walker bought 10,400 shares of the stock in a transaction dated Tuesday, December 17th. The shares were purchased at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the acquisition, the director now owns 38,000 shares of the company’s stock, valued at $3,716,400. This represents a 37.68 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arjun N. Murti bought 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were bought at an average cost of $95.87 per share, with a total value of $239,675.00. Following the completion of the purchase, the director now directly 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 company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on COP. Barclays reduced their price objective on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday. JPMorgan Chase & Co. raised shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and raised their price target for the company from $120.00 to $123.00 in a research report on Thursday, December 5th. Morgan Stanley started coverage on ConocoPhillips in a research report on Monday, December 16th. They issued an “overweight” rating and a $128.00 price objective on the stock. TD Cowen started coverage on ConocoPhillips in a report on Friday, January 17th. They issued a “buy” rating and a $125.00 target price for the company. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $165.00 price target on shares of ConocoPhillips in a report on Friday, December 6th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $133.72.

ConocoPhillips Stock Up 2.3 %

COP stock opened at $101.72 on Wednesday. The business’s 50-day moving average price is $100.91 and its 200-day moving average price is $106.03. The stock has a market cap of $117.08 billion, a P/E ratio of 13.06, a PEG ratio of 0.77 and a beta of 1.18. The company has a quick ratio of 1.16, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. ConocoPhillips has a twelve month low of $94.23 and a twelve month high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. On average, equities research analysts forecast that ConocoPhillips will post 8.3 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 17th will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.07%. The ex-dividend date is Friday, February 14th. ConocoPhillips’s dividend payout ratio is currently 40.05%.

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.