2,043 Shares in ConocoPhillips (NYSE:COP) Bought by Smith & Howard Wealth Management LLC

Smith & Howard Wealth Management LLC purchased a new position in ConocoPhillips (NYSE:COP) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 2,043 shares of the energy producer’s stock, valued at approximately $203,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cypress Capital Group lifted its holdings in shares of ConocoPhillips by 0.5% during the third quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock valued at $1,978,000 after purchasing an additional 96 shares in the last quarter. Orrstown Financial Services Inc. lifted its holdings in shares of ConocoPhillips by 3.0% during the fourth quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer’s stock valued at $331,000 after purchasing an additional 96 shares in the last quarter. Smithfield Trust Co lifted its holdings in shares of ConocoPhillips by 3.3% during the third quarter. Smithfield Trust Co now owns 3,132 shares of the energy producer’s stock valued at $332,000 after purchasing an additional 100 shares in the last quarter. Principle Wealth Partners LLC lifted its holdings in shares of ConocoPhillips by 0.3% during the fourth quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer’s stock valued at $3,695,000 after purchasing an additional 100 shares in the last quarter. Finally, Verus Capital Partners LLC lifted its holdings in shares of ConocoPhillips by 2.0% during the third quarter. Verus Capital Partners LLC now owns 5,137 shares of the energy producer’s stock valued at $541,000 after purchasing an additional 102 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ConocoPhillips

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

Analyst Ratings Changes

COP has been the topic of a number of research analyst reports. Truist Financial upped their price target on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a report on Monday, January 13th. JPMorgan Chase & Co. raised ConocoPhillips from a “neutral” rating to an “overweight” rating and upped their price target for the company from $120.00 to $123.00 in a report on Thursday, December 5th. 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 report on Monday, February 10th. Wells Fargo & Company lowered their target price on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Finally, Piper Sandler lowered their target price on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $133.47.

ConocoPhillips Price Performance

COP opened at $92.60 on Tuesday. The business has a fifty day moving average of $99.44 and a 200 day moving average of $104.18. ConocoPhillips has a 52-week low of $86.81 and a 52-week high of $135.18. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The stock has a market cap of $117.82 billion, a P/E ratio of 11.89, a PEG ratio of 0.79 and a beta of 1.12.

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

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s payout ratio is currently 40.05%.

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.