Robertson Stephens Wealth Management LLC Purchases 51,144 Shares of ConocoPhillips $COP

Key Points

• Robertson Stephens Wealth Management increased its ConocoPhillips stake by 909.2% in the third quarter, adding 51,144 shares for a total holding valued at approximately $7.1 million. Institutional investors own 82.36% of the stock.
• Analysts maintain a generally positive outlook, with ConocoPhillips receiving a consensus “Moderate Buy” rating and an average price target of $143.62.
• ConocoPhillips reported quarterly earnings of $3.24 per share, beating estimates, while revenue rose 32.4% year over year to $19.52 billion. The company also pays a quarterly dividend of $0.84 per share, yielding about 2.3% annually.

Robertson Stephens Wealth Management LLC lifted its position in ConocoPhillips (NYSE:COP - Free Report) by 909.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,769 shares of the energy producer's stock after purchasing an additional 51,144 shares during the quarter. Robertson Stephens Wealth Management LLC's holdings in ConocoPhillips were worth $7,105,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Venture Visionary Partners LLC lifted its stake in shares of ConocoPhillips by 263.6% in the 3rd quarter. Venture Visionary Partners LLC now owns 118,655 shares of the energy producer's stock valued at $14,850,000 after purchasing an additional 86,019 shares during the last quarter. B. Metzler seel. Sohn & Co. AG purchased a new position in shares of ConocoPhillips in the 2nd quarter worth approximately $6,896,000. Qsemble Capital Management LP bought a new position in shares of ConocoPhillips during the 2nd quarter valued at approximately $3,645,000. Cetera Trust Company N.A bought a new position in shares of ConocoPhillips during the 2nd quarter valued at approximately $870,000. Finally, Osmosis Investment Management UK Ltd bought a new position in shares of ConocoPhillips during the 2nd quarter valued at approximately $1,475,000. 82.36% of the stock is owned by institutional investors.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, SVP Andrew Lundquist sold 9,487 shares of the company's stock in a transaction on Friday, August 21st. The stock was sold at an average price of $135.15, for a total value of $1,282,168.05. Following the transaction, the senior vice president owned 9,593 shares of the company's stock, valued at $1,296,493.95. This represents a 49.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.09% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on COP shares. Wall Street Zen upgraded ConocoPhillips from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Weiss Ratings raised shares of ConocoPhillips from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, September 29th. Barclays dropped their price objective on shares of ConocoPhillips from $155.00 to $150.00 and set an "overweight" rating for the company in a research note on Monday, August 17th. Argus boosted their price objective on shares of ConocoPhillips from $136.00 to $153.00 and gave the company a "buy" rating in a research report on Wednesday, August 19th. Finally, The Goldman Sachs Group reduced their target price on shares of ConocoPhillips from $144.00 to $138.00 and set a "buy" rating on the stock in a research note on Tuesday, June 30th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $143.62.

ConocoPhillips Stock Up 3.3%

Shares of NYSE:COP opened at $146.43 on Friday. ConocoPhillips has a 1 year low of $85.57 and a 1 year high of $146.59. The business has a 50 day simple moving average of $132.11 and a two-hundred day simple moving average of $122.44. The firm has a market capitalization of $175.92 billion, a PE ratio of 19.37, a price-to-earnings-growth ratio of 1.45 and a beta of 0.24. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.39.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, topping the consensus estimate of $2.90 by $0.34. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%. The firm had revenue of $19.52 billion for the quarter, compared to the consensus estimate of $18.79 billion. During the same period in the prior year, the business posted $1.42 earnings per share. The company's revenue for the quarter was up 32.4% on a year-over-year basis. On average, equities analysts predict that ConocoPhillips will post 11.19 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 17th were issued a dividend of $0.84 per share. The ex-dividend date was Monday, August 17th. This represents a $3.36 dividend on an annualized basis and a yield of 2.3%. ConocoPhillips's payout ratio is presently 44.44%.

ConocoPhillips Company Profile

ConocoPhillips NYSE: COP is an independent exploration and production company engaged in finding, developing and producing oil, natural gas and natural gas liquids. Unlike integrated energy companies, it primarily focuses on upstream activities rather than operating large refining or retail fuel businesses.

The company's portfolio includes conventional and unconventional oil and natural gas assets, liquefied natural gas-related interests, oil sands operations and other energy resources.

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