Spire Wealth Management Purchases 103 Shares of ConocoPhillips (NYSE:COP)

Spire Wealth Management lifted its position in shares of ConocoPhillips (NYSE:COP) by 0.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,993 shares of the energy producer’s stock after buying an additional 103 shares during the quarter. Spire Wealth Management’s holdings in ConocoPhillips were worth $1,941,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Orion Capital Management LLC bought a new stake in shares of ConocoPhillips in the 3rd quarter valued at about $27,000. West Branch Capital LLC grew its holdings in ConocoPhillips by 87.8% in the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock worth $27,000 after purchasing an additional 108 shares during the last quarter. Oliver Lagore Vanvalin Investment Group increased its position in shares of ConocoPhillips by 63.1% during the third quarter. Oliver Lagore Vanvalin Investment Group now owns 287 shares of the energy producer’s stock worth $34,000 after purchasing an additional 111 shares in the last quarter. Spartan Planning & Wealth Management purchased a new stake in shares of ConocoPhillips during the 3rd quarter valued at $40,000. Finally, Milestone Investment Advisors LLC acquired a new stake in ConocoPhillips during the third quarter valued at $46,000. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Trading Up 0.6 %

Shares of COP stock traded up $0.78 during trading hours on Tuesday, hitting $124.33. The company had a trading volume of 187,291 shares, compared to its average volume of 5,303,301. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.35 and a quick ratio of 1.21. The stock has a market capitalization of $145.41 billion, a PE ratio of 13.99, a price-to-earnings-growth ratio of 2.69 and a beta of 1.25. The company’s fifty day moving average is $124.07 and its 200 day moving average is $117.59. ConocoPhillips has a fifty-two week low of $97.42 and a fifty-two week high of $135.18.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.32. The company had revenue of $15.31 billion for the quarter, compared to analysts’ expectations of $14.47 billion. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. During the same period in the prior year, the firm earned $2.71 earnings per share. Research analysts expect that ConocoPhillips will post 9.1 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 13th will be paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, May 10th. This represents a $3.12 dividend on an annualized basis and a yield of 2.51%. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.27%.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, VP Christopher P. Delk sold 8,505 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total value of $953,070.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Dominic E. Macklon sold 23,372 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $112.17, for a total transaction of $2,621,637.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Christopher P. Delk sold 8,505 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total value of $953,070.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 700,775 shares of company stock valued at $87,615,169. 0.34% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on COP shares. UBS Group increased their target price on shares of ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Truist Financial cut their price objective on ConocoPhillips from $170.00 to $160.00 and set a “buy” rating for the company in a research report on Monday, April 29th. Mizuho reiterated a “neutral” rating and set a $139.00 target price (up previously from $132.00) on shares of ConocoPhillips in a research report on Friday, March 22nd. Wells Fargo & Company boosted their price target on shares of ConocoPhillips from $149.00 to $151.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Scotiabank increased their price objective on shares of ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and an average price target of $142.76.

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.