Beacon Pointe Advisors LLC Has $9.65 Million Stock Holdings in ConocoPhillips (NYSE:COP)

Beacon Pointe Advisors LLC trimmed its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 8.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 83,107 shares of the energy producer's stock after selling 7,461 shares during the quarter. Beacon Pointe Advisors LLC's holdings in ConocoPhillips were worth $9,646,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of COP. Capital Investment Counsel Inc bought a new stake in ConocoPhillips in the third quarter valued at $228,000. Columbia Trust Co 01012016 grew its position in ConocoPhillips by 1.2% in the fourth quarter. Columbia Trust Co 01012016 now owns 9,463 shares of the energy producer's stock valued at $1,098,000 after acquiring an additional 112 shares during the period. Raymond James & Associates grew its position in ConocoPhillips by 1.5% in the fourth quarter. Raymond James & Associates now owns 1,563,044 shares of the energy producer's stock valued at $181,422,000 after acquiring an additional 23,572 shares during the period. Syon Capital LLC bought a new stake in ConocoPhillips in the third quarter valued at $2,262,000. Finally, PFG Investments LLC bought a new stake in ConocoPhillips in the third quarter valued at $233,000. 82.36% of the stock is currently owned by institutional investors.

Insider Buying and Selling at ConocoPhillips

In other news, EVP Nicholas G. Olds sold 12,150 shares of the firm's stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the sale, the executive vice president now owns 14,522 shares of the company's stock, valued at $1,836,161.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Nicholas G. Olds sold 12,150 shares of the firm's stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the sale, the executive vice president now owns 14,522 shares of the company's stock, valued at $1,836,161.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Ryan Michael Lance sold 607,000 shares of the firm's stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $125.91, for a total value of $76,427,370.00. Following the sale, the chief executive officer now directly owns 6,780 shares in the company, valued at approximately $853,669.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 700,775 shares of company stock valued at $87,615,169. 0.34% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently commented on COP. Raymond James decreased their target price on ConocoPhillips from $140.00 to $137.00 and set a "strong-buy" rating on the stock in a report on Wednesday, January 24th. Susquehanna increased their target price on ConocoPhillips from $133.00 to $154.00 and gave the stock a "positive" rating in a report on Monday, April 22nd. Morgan Stanley increased their target price on ConocoPhillips from $123.00 to $129.00 and gave the stock an "overweight" rating in a report on Thursday, March 28th. Mizuho increased their target price on ConocoPhillips from $139.00 to $142.00 and gave the stock a "neutral" rating in a report on Monday. Finally, Wells Fargo & Company increased their target price on ConocoPhillips from $149.00 to $151.00 and gave the stock an "overweight" rating in a report on Friday, May 3rd. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $143.24.

ConocoPhillips Trading Down 0.7 %

NYSE:COP traded down $0.87 during mid-day trading on Thursday, hitting $119.83. The company had a trading volume of 5,002,138 shares, compared to its average volume of 5,371,145. ConocoPhillips has a fifty-two week low of $98.38 and a fifty-two week high of $135.18. The business's fifty day moving average is $125.47 and its two-hundred day moving average is $117.70. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.21 and a current ratio of 1.35. The firm has a market cap of $140.15 billion, a P/E ratio of 13.57, a P/E/G ratio of 2.66 and a beta of 1.25.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 13th will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.60%. The ex-dividend date is Friday, May 10th. ConocoPhillips's payout ratio is 26.27%.

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.

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