Heritage Wealth Management LLC Invests $1.79 Million in ConocoPhillips (NYSE:COP)

Heritage Wealth Management LLC acquired a new stake in ConocoPhillips (NYSE:COP) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 15,380 shares of the energy producer’s stock, valued at approximately $1,785,000. ConocoPhillips accounts for about 1.0% of Heritage Wealth Management LLC’s investment portfolio, making the stock its 23rd largest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Orion Capital Management LLC acquired a new stake in shares of ConocoPhillips in the 3rd quarter worth approximately $27,000. West Branch Capital LLC increased its position in ConocoPhillips by 87.8% during the 4th quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock worth $27,000 after purchasing an additional 108 shares in the last quarter. Oliver Lagore Vanvalin Investment Group raised its stake in ConocoPhillips by 63.1% in the 3rd quarter. Oliver Lagore Vanvalin Investment Group now owns 287 shares of the energy producer’s stock valued at $34,000 after purchasing an additional 111 shares during the last quarter. Spartan Planning & Wealth Management purchased a new position in ConocoPhillips in the 3rd quarter valued at about $40,000. Finally, Milestone Investment Advisors LLC acquired a new stake in shares of ConocoPhillips during the 3rd quarter worth about $46,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

COP has been the topic of several recent analyst reports. Truist Financial reduced their target price on ConocoPhillips from $170.00 to $160.00 and set a “buy” rating on the stock in a research report on Monday. Piper Sandler increased their price objective on shares of ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. UBS Group raised their target price on shares of ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Mizuho reiterated a “neutral” rating and set a $139.00 price objective (up previously from $132.00) on shares of ConocoPhillips in a research note on Friday, March 22nd. Finally, Morgan Stanley increased their price target on ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $142.65.

ConocoPhillips Trading Down 1.3 %

COP traded down $1.57 during trading on Thursday, reaching $122.77. The company had a trading volume of 1,909,250 shares, compared to its average volume of 5,302,662. The firm’s 50-day simple moving average is $123.43 and its 200 day simple moving average is $117.72. ConocoPhillips has a 12-month low of $95.70 and a 12-month high of $135.18. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.29 and a current ratio of 1.43. The company has a market cap of $144.43 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 2.76 and a beta of 1.25.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.32. The company had revenue of $15.31 billion for the quarter, compared to the consensus estimate of $14.47 billion. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. During the same period in the previous year, the business earned $2.71 EPS. Equities research analysts anticipate that ConocoPhillips will post 9.11 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were paid a $0.78 dividend. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.54%. The ex-dividend date was Thursday, February 15th. ConocoPhillips’s dividend payout ratio is currently 25.61%.

Insiders Place Their Bets

In other ConocoPhillips news, SVP Heather G. Hrap sold 4,548 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total value of $502,781.40. Following the completion of the sale, the senior vice president now directly owns 2,654 shares in the company, valued at $293,399.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Nicholas G. Olds sold 12,150 shares of ConocoPhillips stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $126.44, for a total value of $1,536,246.00. Following the transaction, 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, SVP Heather G. Hrap sold 4,548 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $110.55, for a total transaction of $502,781.40. Following the sale, the senior vice president now directly owns 2,654 shares of the company’s stock, valued at $293,399.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 700,775 shares of company stock worth $87,615,169. 0.34% of the stock is currently owned by company insiders.

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.