Planned Solutions Inc. Makes New $207,000 Investment in ConocoPhillips (NYSE:COP)

Planned Solutions Inc. acquired a new position in shares of ConocoPhillips (NYSE:COP) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,786 shares of the energy producer’s stock, valued at approximately $207,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norris Perne & French LLP MI grew its position in shares of ConocoPhillips by 1.9% during the 3rd quarter. Norris Perne & French LLP MI now owns 4,364 shares of the energy producer’s stock worth $523,000 after buying an additional 80 shares during the period. Sloy Dahl & Holst LLC grew its position in shares of ConocoPhillips by 3.3% during the 3rd quarter. Sloy Dahl & Holst LLC now owns 2,629 shares of the energy producer’s stock worth $315,000 after buying an additional 85 shares during the period. Mascoma Wealth Management LLC grew its position in shares of ConocoPhillips by 35.9% during the 3rd quarter. Mascoma Wealth Management LLC now owns 333 shares of the energy producer’s stock worth $40,000 after buying an additional 88 shares during the period. CRA Financial Services LLC grew its position in shares of ConocoPhillips by 1.9% during the 3rd quarter. CRA Financial Services LLC now owns 4,702 shares of the energy producer’s stock worth $563,000 after buying an additional 89 shares during the period. Finally, KLCM Advisors Inc. grew its position in shares of ConocoPhillips by 2.8% during the 3rd quarter. KLCM Advisors Inc. now owns 3,305 shares of the energy producer’s stock worth $396,000 after buying an additional 89 shares during the period. 82.36% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other ConocoPhillips news, VP Christopher P. Delk sold 8,505 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total transaction of $953,070.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, VP Christopher P. Delk sold 8,505 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total value of $953,070.30. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ryan Michael Lance sold 607,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 6,780 shares in the company, valued at approximately $853,669.80. The disclosure for this sale can be found here. Insiders have sold 700,775 shares of company stock worth $87,615,169 in the last 90 days. Company insiders own 0.37% of the company’s stock.

ConocoPhillips Stock Up 0.7 %

COP opened at $126.88 on Thursday. ConocoPhillips has a 1-year low of $95.70 and a 1-year high of $127.35. The stock’s fifty day simple moving average is $113.49 and its 200 day simple moving average is $116.01. The company has a current ratio of 1.43, a quick ratio of 1.29 and a debt-to-equity ratio of 0.36. The stock has a market cap of $149.26 billion, a PE ratio of 14.00, a price-to-earnings-growth ratio of 2.87 and a beta of 1.23.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.32. The business had revenue of $15.31 billion for the quarter, compared to analysts’ expectations of $14.47 billion. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. During the same quarter in the prior year, the business earned $2.71 EPS. As a group, research analysts expect that ConocoPhillips will post 8.79 earnings per share for the current year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were given a dividend of $0.78 per share. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Thursday, February 15th. This represents a $3.12 annualized dividend and a yield of 2.46%. ConocoPhillips’s dividend payout ratio (DPR) is presently 25.61%.

Wall Street Analyst Weigh In

COP has been the subject of several research analyst reports. Piper Sandler decreased their price objective on ConocoPhillips from $139.00 to $133.00 and set an “overweight” rating for the company in a research report on Thursday, March 14th. JPMorgan Chase & Co. decreased their price objective on ConocoPhillips from $153.00 to $141.00 and set a “neutral” rating for the company in a research report on Friday, December 8th. Johnson Rice lowered ConocoPhillips from an “accumulate” rating to a “hold” rating in a research report on Thursday, December 14th. UBS Group upped their price target on ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Finally, Mizuho reaffirmed a “neutral” rating and set a $139.00 price target (up previously from $132.00) on shares of ConocoPhillips in a research report on Friday, March 22nd. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.12.

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.