RFG Bristol Wealth Advisors LLC Takes Position in ConocoPhillips (NYSE:COP)

RFG Bristol Wealth Advisors LLC purchased a new stake in ConocoPhillips (NYSE:COP) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 2,251 shares of the energy producer’s stock, valued at approximately $223,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Bridgewater Associates LP boosted its stake in ConocoPhillips by 58.9% in the 3rd quarter. Bridgewater Associates LP now owns 3,079 shares of the energy producer’s stock worth $324,000 after purchasing an additional 1,141 shares during the period. Benjamin Edwards Inc. boosted its position in shares of ConocoPhillips by 489.8% in the third quarter. Benjamin Edwards Inc. now owns 26,711 shares of the energy producer’s stock worth $2,814,000 after buying an additional 22,182 shares during the period. Investment Management Corp of Ontario grew its holdings in shares of ConocoPhillips by 47.7% during the third quarter. Investment Management Corp of Ontario now owns 38,710 shares of the energy producer’s stock valued at $4,075,000 after buying an additional 12,500 shares in the last quarter. Integrated Wealth Concepts LLC raised its position in ConocoPhillips by 9.9% during the third quarter. Integrated Wealth Concepts LLC now owns 29,896 shares of the energy producer’s stock valued at $3,147,000 after buying an additional 2,692 shares during the period. Finally, IHT Wealth Management LLC lifted its stake in ConocoPhillips by 36.4% in the 3rd quarter. IHT Wealth Management LLC now owns 9,276 shares of the energy producer’s stock worth $985,000 after acquiring an additional 2,473 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

COP has been the topic of a number of research reports. TD Cowen initiated coverage on ConocoPhillips in a report on Friday, January 17th. They issued a “buy” rating and a $125.00 target price on the stock. Truist Financial upped their price objective on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Raymond James cut shares of 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. The Goldman Sachs Group set a $132.00 price target on shares of ConocoPhillips in a research note on Thursday, January 30th. Finally, JPMorgan Chase & Co. reduced their price objective on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Two investment 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $132.95.

ConocoPhillips Trading Up 0.7 %

ConocoPhillips stock opened at $106.12 on Thursday. ConocoPhillips has a 52 week low of $86.81 and a 52 week high of $135.18. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. The firm has a market capitalization of $135.02 billion, a PE ratio of 13.62, a PEG ratio of 0.79 and a beta of 1.12. The business’s 50-day simple moving average is $99.02 and its 200-day simple moving average is $103.33.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, topping 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%. Equities research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 2.94%. ConocoPhillips’s payout ratio is 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.