Wealthspire Advisors LLC Raises Position in ConocoPhillips (NYSE:COP)

Wealthspire Advisors LLC grew its stake in ConocoPhillips (NYSE:COP) by 81.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,665 shares of the energy producer’s stock after purchasing an additional 3,884 shares during the quarter. Wealthspire Advisors LLC’s holdings in ConocoPhillips were worth $1,006,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of COP. Catalyst Financial Partners LLC raised its holdings in shares of ConocoPhillips by 6.8% in the fourth quarter. Catalyst Financial Partners LLC now owns 4,203 shares of the energy producer’s stock valued at $488,000 after purchasing an additional 269 shares during the last quarter. National Pension Service lifted its position in shares of ConocoPhillips by 2.3% during the 4th quarter. National Pension Service now owns 2,000,566 shares of the energy producer’s stock worth $232,206,000 after buying an additional 44,509 shares in the last quarter. EdgeRock Capital LLC purchased a new position in shares of ConocoPhillips in the 4th quarter worth approximately $77,000. Everpar Advisors LLC bought a new position in shares of ConocoPhillips in the fourth quarter valued at approximately $282,000. Finally, Patrick M Sweeney & Associates Inc. purchased a new stake in shares of ConocoPhillips during the fourth quarter valued at approximately $255,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insider Buying and Selling

In other ConocoPhillips news, VP Christopher P. Delk sold 8,505 shares of ConocoPhillips stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total transaction of $953,070.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Christopher P. Delk sold 8,505 shares of ConocoPhillips stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total transaction of $953,070.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Heather G. Hrap sold 4,548 shares of ConocoPhillips stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $110.55, for a total transaction of $502,781.40. Following the sale, the senior vice president now directly owns 2,654 shares of the company’s stock, valued at $293,399.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 700,775 shares of company stock worth $87,615,169. Insiders own 0.34% of the company’s stock.

ConocoPhillips Price Performance

ConocoPhillips stock traded down $0.09 during midday trading on Friday, reaching $122.52. 258,554 shares of the stock were exchanged, compared to its average volume of 5,298,532. ConocoPhillips has a 52 week low of $97.42 and a 52 week high of $135.18. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.21 and a current ratio of 1.35. The firm has a market cap of $143.29 billion, a PE ratio of 13.98, a PEG ratio of 2.69 and a beta of 1.25. The company’s fifty day moving average is $124.53 and its 200-day moving average is $117.63.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data 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. The company had revenue of $15.31 billion for the quarter, compared to the consensus estimate 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 business posted $2.71 earnings per share. On average, sell-side analysts forecast that ConocoPhillips will post 9.1 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 13th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend is Friday, May 10th. ConocoPhillips’s payout ratio is 26.27%.

Analyst Ratings Changes

COP has been the subject of a number of recent analyst reports. Raymond James reduced their price objective on ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. Wells Fargo & Company lifted their price objective on shares of ConocoPhillips from $149.00 to $151.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Morgan Stanley increased their target price on shares of ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Susquehanna raised their price target on shares of ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a research note on Monday, April 22nd. Finally, Truist Financial dropped their price objective on ConocoPhillips from $170.00 to $160.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.76.

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.