Reliant Investment Management LLC Has $5.47 Million Holdings in ConocoPhillips (NYSE:COP)

Reliant Investment Management LLC lifted its stake in ConocoPhillips (NYSE:COP) by 2.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,121 shares of the energy producer’s stock after buying an additional 1,270 shares during the period. ConocoPhillips comprises approximately 2.4% of Reliant Investment Management LLC’s holdings, making the stock its 20th largest holding. Reliant Investment Management LLC’s holdings in ConocoPhillips were worth $5,466,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Values First Advisors Inc. acquired a new position in shares of ConocoPhillips in the 3rd quarter worth approximately $26,000. Reston Wealth Management LLC acquired a new position in shares of ConocoPhillips in the 3rd quarter worth approximately $31,000. Truvestments Capital LLC acquired a new position in shares of ConocoPhillips in the 3rd quarter worth approximately $31,000. Global Wealth Strategies & Associates raised its holdings in shares of ConocoPhillips by 80.5% in the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after buying an additional 153 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC acquired a new position in shares of ConocoPhillips in the 3rd quarter worth approximately $35,000. 82.36% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director R A. Walker purchased 10,400 shares of the company’s stock in a transaction on 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 purchase, the director now directly owns 38,000 shares of the company’s stock, valued at $3,716,400. This trade represents a 37.68 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Arjun N. Murti purchased 2,500 shares of the company’s stock in a transaction on Friday, December 20th. The stock was purchased at an average cost 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 disclosure for this purchase can be found here. 0.34% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company dropped their target price on ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating for the company in a report on Tuesday, January 14th. BMO Capital Markets raised their price target on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, October 4th. JPMorgan Chase & Co. raised 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 report on Thursday, December 5th. Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and raised their price target for the company from $132.00 to $134.00 in a report on Monday, December 16th. Finally, Scotiabank dropped their price target on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $136.00.

ConocoPhillips Stock Up 0.1 %

NYSE:COP opened at $105.76 on Tuesday. ConocoPhillips has a 12-month low of $94.23 and a 12-month high of $135.18. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $121.72 billion, a P/E ratio of 12.58, a P/E/G ratio of 0.88 and a beta of 1.19. The stock’s fifty day simple moving average is $103.79 and its 200-day simple moving average is $107.37.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The business had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. During the same period last year, the company earned $2.16 EPS. The firm’s revenue was down 8.5% on a year-over-year basis. Equities research analysts expect that ConocoPhillips will post 7.68 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend was Friday, November 8th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is presently 37.10%.

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.