ConocoPhillips (NYSE:COP) Shares Purchased by NewEdge Wealth LLC

NewEdge Wealth LLC grew its position in shares of ConocoPhillips (NYSE:COP) by 3.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 167,892 shares of the energy producer’s stock after purchasing an additional 5,282 shares during the quarter. NewEdge Wealth LLC’s holdings in ConocoPhillips were worth $16,650,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. AMF Tjanstepension AB lifted its stake in shares of ConocoPhillips by 4.7% during the 3rd quarter. AMF Tjanstepension AB now owns 1,163,724 shares of the energy producer’s stock worth $122,628,000 after purchasing an additional 52,334 shares during the period. Pallas Capital Advisors LLC increased its stake in ConocoPhillips by 27.8% in the third quarter. Pallas Capital Advisors LLC now owns 7,325 shares of the energy producer’s stock valued at $765,000 after purchasing an additional 1,594 shares during the last quarter. Diversify Advisory Services LLC lifted its position in ConocoPhillips by 754.9% during the third quarter. Diversify Advisory Services LLC now owns 23,587 shares of the energy producer’s stock worth $2,477,000 after buying an additional 20,828 shares during the period. Valmark Advisers Inc. lifted its position in ConocoPhillips by 12.5% during the third quarter. Valmark Advisers Inc. now owns 5,289 shares of the energy producer’s stock worth $557,000 after buying an additional 586 shares during the period. Finally, Jacobsen Capital Management boosted its stake in ConocoPhillips by 5.4% in the 3rd quarter. Jacobsen Capital Management now owns 2,169 shares of the energy producer’s stock worth $228,000 after buying an additional 111 shares during the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

COP has been the subject of a number of research analyst reports. Truist Financial increased their price objective on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Piper Sandler cut their price target on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. UBS Group decreased their price target on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Barclays dropped their price objective on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Finally, Raymond James downgraded ConocoPhillips from a “strong-buy” rating to an “outperform” rating and lowered their price target for the company from $157.00 to $124.00 in a research report on Monday, February 10th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and an average target price of $133.47.

ConocoPhillips Price Performance

Shares of COP stock opened at $96.06 on Thursday. ConocoPhillips has a twelve month low of $94.23 and a twelve month high of $135.18. The company has a market capitalization of $122.23 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 0.79 and a beta of 1.18. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The firm has a fifty day simple moving average of $100.07 and a 200-day simple moving average of $105.21.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. Equities research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 17th will be paid a dividend of $0.78 per share. The ex-dividend date is Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.25%. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

Insiders Place Their Bets

In related news, Director R A. Walker bought 10,400 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was bought at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the transaction, the director now owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. This trade represents a 37.68 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Arjun N. Murti bought 2,500 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was bought at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the purchase, the director now owns 21,500 shares in the company, valued at approximately $2,061,205. This represents a 13.16 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is owned by company insiders.

ConocoPhillips Company 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.