Sendero Wealth Management LLC Has $9.34 Million Holdings in ConocoPhillips (NYSE:COP)

Sendero Wealth Management LLC raised its position in ConocoPhillips (NYSE:COP) by 19.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,741 shares of the energy producer’s stock after buying an additional 14,376 shares during the quarter. ConocoPhillips accounts for 1.5% of Sendero Wealth Management LLC’s holdings, making the stock its 14th biggest holding. Sendero Wealth Management LLC’s holdings in ConocoPhillips were worth $9,343,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Point72 Europe London LLP purchased a new position in shares of ConocoPhillips in the 4th quarter worth approximately $1,752,000. LM Advisors LLC purchased a new stake in shares of ConocoPhillips during the fourth quarter valued at approximately $307,000. Chilton Investment Co. Inc. boosted its holdings in shares of ConocoPhillips by 4.5% during the fourth quarter. Chilton Investment Co. Inc. now owns 3,536 shares of the energy producer’s stock worth $410,000 after purchasing an additional 152 shares during the period. Barden Capital Management Inc. boosted its stake in shares of ConocoPhillips by 17.6% during the 4th quarter. Barden Capital Management Inc. now owns 12,401 shares of the energy producer’s stock valued at $1,475,000 after purchasing an additional 1,853 shares in the last quarter. Finally, Bradley Foster & Sargent Inc. CT grew its holdings in ConocoPhillips by 3.3% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 590,744 shares of the energy producer’s stock worth $68,568,000 after purchasing an additional 18,800 shares during the period. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Price Performance

Shares of COP stock traded up $1.29 during mid-day trading on Thursday, hitting $112.26. 1,508,059 shares of the stock were exchanged, compared to its average volume of 5,931,392. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34. The company has a market cap of $131.29 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 0.87 and a beta of 1.21. The firm has a fifty day moving average of $108.89 and a 200 day moving average of $115.76. ConocoPhillips has a 52-week low of $101.29 and a 52-week high of $135.18.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.02. The business had revenue of $14.14 billion during the quarter, compared to analysts’ expectations of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.84 earnings per share. Research analysts anticipate that ConocoPhillips will post 8.02 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were given a $0.58 dividend. The ex-dividend date was Monday, August 12th. This represents a $2.32 annualized dividend and a yield of 2.07%. ConocoPhillips’s dividend payout ratio is presently 26.27%.

Insiders Place Their Bets

In other news, Director Timothy A. Leach sold 55,500 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the sale, the director now owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.34% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have commented on COP. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 target price on shares of ConocoPhillips in a report on Friday, September 13th. StockNews.com lowered ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Wells Fargo & Company decreased their price target on ConocoPhillips from $150.00 to $132.00 and set an “overweight” rating on the stock in a report on Friday, September 27th. Susquehanna reduced their target price on ConocoPhillips from $154.00 to $147.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. Finally, Wolfe Research initiated coverage on ConocoPhillips in a research report on Thursday, July 18th. They set an “outperform” rating and a $145.00 price target on the stock. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $138.29.

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.