1,083 Shares in ConocoPhillips (NYSE:COP) Acquired by Encompass Wealth Advisors LLC


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Encompass Wealth Advisors LLC purchased a new stake in ConocoPhillips (NYSE:COP) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 1,083 shares of the energy producer’s stock, valued at approximately $43,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its position in shares of ConocoPhillips by 23.2% in the 4th quarter. Bank of New York Mellon Corp now owns 16,253,068 shares of the energy producer’s stock worth $649,960,000 after buying an additional 3,057,307 shares during the period. Boston Partners lifted its holdings in shares of ConocoPhillips by 17.8% during the 4th quarter. Boston Partners now owns 16,005,135 shares of the energy producer’s stock valued at $640,046,000 after acquiring an additional 2,417,177 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in ConocoPhillips by 12.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,872,369 shares of the energy producer’s stock valued at $554,756,000 after purchasing an additional 1,569,580 shares in the last quarter. Lazard Asset Management LLC boosted its position in shares of ConocoPhillips by 29.2% in the fourth quarter. Lazard Asset Management LLC now owns 12,819,227 shares of the energy producer’s stock worth $512,639,000 after buying an additional 2,899,393 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of ConocoPhillips by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,490,872 shares of the energy producer’s stock valued at $219,580,000 after buying an additional 80,824 shares in the last quarter. 72.87% of the stock is owned by institutional investors.

Shares of ConocoPhillips stock opened at $52.38 on Thursday. The stock has a 50-day simple moving average of $54.01 and a 200-day simple moving average of $42.67. ConocoPhillips has a 52-week low of $27.53 and a 52-week high of $61.14. The firm has a market cap of $70.83 billion, a price-to-earnings ratio of -46.35, a P/E/G ratio of 10.03 and a beta of 1.85. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.38 and a quick ratio of 2.16.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Monday, February 1st. The energy producer reported ($0.19) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.25) by $0.06. ConocoPhillips had a negative net margin of 5.66% and a negative return on equity of 0.02%. The company had revenue of $6.05 billion for the quarter, compared to analyst estimates of $4.69 billion. During the same quarter in the prior year, the business posted $0.76 EPS. As a group, equities research analysts predict that ConocoPhillips will post -0.9 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, March 1st. Shareholders of record on Friday, February 12th were given a $0.43 dividend. The ex-dividend date was Thursday, February 11th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.28%. ConocoPhillips’s dividend payout ratio is currently 47.91%.

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. assumed coverage on shares of ConocoPhillips in a research report on Tuesday, January 19th. They set a “neutral” rating for the company. Mizuho upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and raised their target price for the company from $36.00 to $56.00 in a research note on Tuesday, January 12th. Barclays upped their price target on shares of ConocoPhillips from $55.00 to $59.00 and gave the stock an “overweight” rating in a research report on Thursday, January 14th. Truist lifted their price objective on shares of ConocoPhillips from $40.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, December 31st. Finally, Morgan Stanley raised their price target on shares of ConocoPhillips from $58.00 to $73.00 and gave the company an “overweight” rating in a research note on Wednesday, March 17th. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $53.88.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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