Hazlett Burt & Watson Inc. Increases Position in ConocoPhillips (NYSE:COP)

Hazlett Burt & Watson Inc. boosted its holdings in shares of ConocoPhillips (NYSE:COP) by 5.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,391 shares of the energy producer’s stock after purchasing an additional 183 shares during the quarter. Hazlett Burt & Watson Inc.’s holdings in ConocoPhillips were worth $337,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of COP. Albion Financial Group UT raised its position in ConocoPhillips by 876.9% during the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after acquiring an additional 228 shares during the period. Murphy & Mullick Capital Management Corp acquired a new stake in ConocoPhillips in the 4th quarter worth about $26,000. Centricity Wealth Management LLC acquired a new position in shares of ConocoPhillips during the fourth quarter valued at approximately $27,000. Crowley Wealth Management Inc. purchased a new position in shares of ConocoPhillips in the fourth quarter valued at approximately $32,000. Finally, Global Wealth Strategies & Associates boosted its stake in shares of ConocoPhillips by 80.5% in the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after acquiring an additional 153 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

NYSE COP opened at $102.37 on Monday. ConocoPhillips has a 1-year low of $86.81 and a 1-year high of $135.18. The stock has a 50-day moving average of $98.95 and a two-hundred day moving average of $103.28. The company has a market cap of $130.26 billion, a P/E ratio of 13.14, a P/E/G ratio of 0.79 and a beta of 1.12. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate 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, analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.05%. ConocoPhillips’s payout ratio is currently 40.05%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. UBS Group decreased their price objective on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Morgan Stanley dropped their price objective on shares of ConocoPhillips from $131.00 to $126.00 and set an “overweight” rating for the company in a research note on Thursday. 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. Barclays reduced their price objective on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Finally, JPMorgan Chase & Co. dropped their target price on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Two equities research 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 an average rating of “Moderate Buy” and a consensus price target of $132.95.

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.