Gilliland Jeter Wealth Management LLC Makes New Investment in ConocoPhillips (NYSE:COP)

Gilliland Jeter Wealth Management LLC purchased a new stake in shares of ConocoPhillips (NYSE:COP) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 22,931 shares of the energy producer’s stock, valued at approximately $2,662,000. ConocoPhillips accounts for approximately 1.1% of Gilliland Jeter Wealth Management LLC’s investment portfolio, making the stock its 23rd largest holding.

Other hedge funds and other institutional investors have also modified their holdings of the company. Citizens Financial Group Inc. RI raised its holdings in ConocoPhillips by 158.8% during the fourth quarter. Citizens Financial Group Inc. RI now owns 66,415 shares of the energy producer’s stock worth $7,709,000 after purchasing an additional 40,753 shares in the last quarter. Golden State Equity Partners increased its position in shares of ConocoPhillips by 5.0% during the 4th quarter. Golden State Equity Partners now owns 6,069 shares of the energy producer’s stock valued at $704,000 after purchasing an additional 287 shares during the period. Jackson Hole Capital Partners LLC raised its stake in shares of ConocoPhillips by 42.0% in the 4th quarter. Jackson Hole Capital Partners LLC now owns 13,366 shares of the energy producer’s stock worth $1,551,000 after buying an additional 3,955 shares in the last quarter. VCI Wealth Management LLC acquired a new stake in shares of ConocoPhillips in the fourth quarter valued at $931,000. Finally, Syon Capital LLC boosted its stake in ConocoPhillips by 38.5% during the fourth quarter. Syon Capital LLC now owns 26,139 shares of the energy producer’s stock valued at $3,034,000 after buying an additional 7,260 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Heather G. Hrap sold 4,548 shares of ConocoPhillips stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $110.55, for a total transaction of $502,781.40. Following the completion of the sale, the senior vice president now directly owns 2,654 shares in the company, valued at approximately $293,399.70. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other ConocoPhillips news, SVP Heather G. Hrap sold 4,548 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total value of $502,781.40. Following the completion of the sale, the senior vice president now directly owns 2,654 shares in the company, valued at $293,399.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ryan Michael Lance sold 607,000 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 6,780 shares in the company, valued at approximately $853,669.80. The disclosure for this sale can be found here. Insiders have sold a total of 700,775 shares of company stock valued at $87,615,169 in the last three months. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on COP. Truist Financial dropped their price target on shares of ConocoPhillips from $173.00 to $170.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. Mizuho reissued a “neutral” rating and set a $139.00 target price (up from $132.00) on shares of ConocoPhillips in a research note on Friday, March 22nd. Piper Sandler lifted their price target on shares of ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. UBS Group increased their price objective on ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Finally, Susquehanna lifted their target price on ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a report on Monday, April 22nd. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and an average target price of $143.24.

ConocoPhillips Stock Up 0.1 %

Shares of NYSE COP traded up $0.13 during mid-day trading on Friday, reaching $130.24. The company had a trading volume of 4,823,139 shares, compared to its average volume of 3,808,210. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.29 and a current ratio of 1.43. The company has a market capitalization of $153.22 billion, a price-to-earnings ratio of 14.38, a PEG ratio of 2.72 and a beta of 1.24. The stock has a fifty day moving average of $122.49 and a two-hundred day moving average of $117.62. ConocoPhillips has a 12-month low of $95.70 and a 12-month high of $135.18.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.32. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. The company had revenue of $15.31 billion during the quarter, compared to the consensus estimate of $14.47 billion. During the same quarter in the prior year, the firm earned $2.71 EPS. As a group, equities research analysts expect that ConocoPhillips will post 9.57 EPS for the current year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were given a dividend of $0.78 per share. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Thursday, February 15th. This represents a $3.12 dividend on an annualized basis and a yield of 2.40%. ConocoPhillips’s dividend payout ratio (DPR) is presently 25.61%.

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.