ConocoPhillips (NYSE:COP) Shares Bought by Private Advisor Group LLC

Private Advisor Group LLC lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 8.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 65,881 shares of the energy producer’s stock after buying an additional 4,910 shares during the quarter. Private Advisor Group LLC’s holdings in ConocoPhillips were worth $7,647,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Spire Wealth Management lifted its stake in shares of ConocoPhillips by 0.6% in the 4th quarter. Spire Wealth Management now owns 17,993 shares of the energy producer’s stock worth $1,941,000 after acquiring an additional 103 shares during the period. Gallacher Capital Management LLC boosted its holdings in ConocoPhillips by 72.1% in the 4th quarter. Gallacher Capital Management LLC now owns 4,244 shares of the energy producer’s stock valued at $493,000 after purchasing an additional 1,778 shares in the last quarter. Connecticut Wealth Management LLC increased its position in ConocoPhillips by 246.4% during the 4th quarter. Connecticut Wealth Management LLC now owns 17,921 shares of the energy producer’s stock worth $2,080,000 after purchasing an additional 12,747 shares during the period. TCG Advisory Services LLC raised its stake in shares of ConocoPhillips by 39.2% during the 4th quarter. TCG Advisory Services LLC now owns 20,562 shares of the energy producer’s stock worth $2,387,000 after buying an additional 5,791 shares in the last quarter. Finally, First National Trust Co lifted its holdings in shares of ConocoPhillips by 4.0% in the 4th quarter. First National Trust Co now owns 15,129 shares of the energy producer’s stock valued at $1,756,000 after buying an additional 576 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

COP has been the topic of a number of recent analyst reports. Truist Financial lowered their price target on shares of ConocoPhillips from $170.00 to $160.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. Raymond James dropped their target price on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 24th. Piper Sandler upped their price target on ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Scotiabank lifted their price objective on ConocoPhillips from $120.00 to $135.00 and gave the stock a “sector perform” rating in a report on Thursday, April 11th. Finally, Mizuho reissued a “neutral” rating and issued a $139.00 target price (up previously from $132.00) on shares of ConocoPhillips in a report on Friday, March 22nd. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $142.76.

ConocoPhillips Trading Down 0.2 %

Shares of ConocoPhillips stock traded down $0.19 during trading hours on Wednesday, hitting $123.35. The company’s stock had a trading volume of 280,249 shares, compared to its average volume of 5,311,008. ConocoPhillips has a 1-year low of $97.42 and a 1-year high of $135.18. The company has a market capitalization of $144.26 billion, a PE ratio of 13.99, a P/E/G ratio of 2.69 and a beta of 1.25. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.35. The business has a fifty day moving average of $124.31 and a 200 day moving average of $117.59.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.32. The business had revenue of $15.31 billion during the quarter, compared to analyst estimates of $14.47 billion. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. During the same quarter last year, the firm earned $2.71 earnings per share. As a group, equities analysts forecast that ConocoPhillips will post 9.1 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 13th will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.53%. The ex-dividend date is Friday, May 10th. ConocoPhillips’s dividend payout ratio (DPR) is 26.27%.

Insiders Place Their Bets

In other ConocoPhillips news, CEO Ryan Michael Lance sold 607,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the completion of the sale, the chief executive officer now owns 6,780 shares in the company, valued at approximately $853,669.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Nicholas G. Olds sold 12,150 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the sale, the executive vice president now directly owns 14,522 shares of the company’s stock, valued at approximately $1,836,161.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Michael Lance sold 607,000 shares of ConocoPhillips stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $125.91, for a total value of $76,427,370.00. Following the completion of the transaction, the chief executive officer now owns 6,780 shares of the company’s stock, valued at $853,669.80. The disclosure for this sale can be found here. Insiders have sold 700,775 shares of company stock worth $87,615,169 in the last quarter. 0.34% of the stock is owned by corporate insiders.

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.