CreativeOne Wealth LLC Increases Position in ConocoPhillips (NYSE:COP)

CreativeOne Wealth LLC raised its holdings in ConocoPhillips (NYSE:COP) by 1.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,706 shares of the energy producer’s stock after purchasing an additional 109 shares during the quarter. CreativeOne Wealth LLC’s holdings in ConocoPhillips were worth $779,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in COP. WealthPlan Investment Management LLC purchased a new stake in ConocoPhillips in the third quarter valued at $441,000. OVERSEA CHINESE BANKING Corp Ltd raised its position in shares of ConocoPhillips by 42.9% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 6,877 shares of the energy producer’s stock worth $829,000 after acquiring an additional 2,066 shares during the period. Bahl & Gaynor Inc. raised its position in shares of ConocoPhillips by 27.8% in the third quarter. Bahl & Gaynor Inc. now owns 3,649 shares of the energy producer’s stock worth $437,000 after acquiring an additional 794 shares during the period. LSV Asset Management raised its position in shares of ConocoPhillips by 167.2% in the third quarter. LSV Asset Management now owns 419,410 shares of the energy producer’s stock worth $50,245,000 after acquiring an additional 262,450 shares during the period. Finally, NBC Securities Inc. acquired a new position in shares of ConocoPhillips in the third quarter worth about $1,423,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Nicholas G. Olds sold 12,150 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the completion of the transaction, the executive vice president now 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 Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Nicholas G. Olds sold 12,150 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $126.44, for a total value of $1,536,246.00. Following the sale, the executive vice president now directly owns 14,522 shares in the company, valued at approximately $1,836,161.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Michael Lance sold 607,000 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were 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 $853,669.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 664,350 shares of company stock valued at $83,537,680. Company insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Performance

NYSE:COP opened at $118.21 on Thursday. 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 stock has a market capitalization of $138.25 billion, a P/E ratio of 13.39, a PEG ratio of 2.65 and a beta of 1.25. The company has a 50 day moving average price of $126.02 and a 200 day moving average price of $117.74. ConocoPhillips has a fifty-two week low of $98.38 and a fifty-two week high of $135.18.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 13th will be given a dividend of $0.78 per share. The ex-dividend date is Friday, May 10th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.64%. ConocoPhillips’s payout ratio is currently 26.27%.

Analyst Upgrades and Downgrades

COP has been the subject of a number of analyst reports. Barclays initiated coverage on shares of ConocoPhillips in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $158.00 price objective for the company. Mizuho upped their price objective on shares of ConocoPhillips from $139.00 to $142.00 and gave the stock a “neutral” rating in a research report on Monday, May 13th. Wells Fargo & Company upped their price target 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 upped their price target on shares of ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Finally, Piper Sandler upped 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. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $143.24.

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.