Fi3 FINANCIAL ADVISORS LLC Makes New Investment in ConocoPhillips (NYSE:COP)

Fi3 FINANCIAL ADVISORS LLC bought a new stake in shares of ConocoPhillips (NYSE:COP) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,137 shares of the energy producer’s stock, valued at approximately $212,000.

Several other large investors also recently modified their holdings of the stock. Tidal Investments LLC grew its stake in ConocoPhillips by 42.7% during the third quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer’s stock worth $10,902,000 after buying an additional 31,011 shares in the last quarter. Leavell Investment Management Inc. lifted its holdings in shares of ConocoPhillips by 59.8% during the 4th quarter. Leavell Investment Management Inc. now owns 19,166 shares of the energy producer’s stock worth $1,901,000 after acquiring an additional 7,174 shares during the period. Brookstone Capital Management boosted its position in shares of ConocoPhillips by 4.5% during the 4th quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer’s stock worth $878,000 after acquiring an additional 383 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in ConocoPhillips by 1.9% in the third quarter. The Manufacturers Life Insurance Company now owns 2,489,514 shares of the energy producer’s stock valued at $262,094,000 after acquiring an additional 46,621 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in ConocoPhillips by 2.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 7,096,450 shares of the energy producer’s stock valued at $747,114,000 after purchasing an additional 153,944 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Trading Down 0.3 %

Shares of COP stock opened at $102.05 on Friday. ConocoPhillips has a 1-year low of $86.81 and a 1-year high of $135.18. 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 stock has a market cap of $129.84 billion, a price-to-earnings ratio of 13.10, a PEG ratio of 0.79 and a beta of 1.12. The stock has a 50-day moving average of $99.21 and a 200-day moving average of $103.45.

ConocoPhillips (NYSE:COP) last released its earnings results 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%. On average, equities research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were issued a $0.78 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 annualized dividend and a yield of 3.06%. ConocoPhillips’s payout ratio is 40.05%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on COP shares. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $132.00 to $134.00 in a research note on Monday, December 16th. JPMorgan Chase & Co. decreased their target price on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Truist Financial increased their target price on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, January 13th. The Goldman Sachs Group set a $132.00 price target on shares of ConocoPhillips in a report on Thursday, January 30th. Finally, Morgan Stanley began coverage on shares of ConocoPhillips in a research note on Monday, December 16th. They issued an “overweight” rating and a $128.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $133.05.

About ConocoPhillips

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.