Kestra Private Wealth Services LLC Raises Stake in ConocoPhillips (NYSE:COP)

Kestra Private Wealth Services LLC lifted its position in shares of ConocoPhillips (NYSE:COP) by 2.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,228 shares of the energy producer’s stock after buying an additional 687 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in ConocoPhillips were worth $3,741,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Orion Capital Management LLC purchased a new stake in ConocoPhillips in the third quarter valued at approximately $27,000. West Branch Capital LLC grew its holdings in ConocoPhillips by 87.8% in the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after purchasing an additional 108 shares during the period. Oliver Lagore Vanvalin Investment Group grew its holdings in ConocoPhillips by 63.1% in the third quarter. Oliver Lagore Vanvalin Investment Group now owns 287 shares of the energy producer’s stock valued at $34,000 after purchasing an additional 111 shares during the period. Spartan Planning & Wealth Management purchased a new stake in ConocoPhillips in the third quarter valued at approximately $40,000. Finally, Milestone Investment Advisors LLC purchased a new stake in ConocoPhillips in the third quarter valued at approximately $46,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Truist Financial reduced their price target on shares of ConocoPhillips from $170.00 to $160.00 and set a “buy” rating on the stock in a research report on Monday. Scotiabank lifted their price target on shares of ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a research report on Thursday, April 11th. Mizuho reaffirmed a “neutral” rating and set a $139.00 price target (up from $132.00) on shares of ConocoPhillips in a research report on Friday, March 22nd. Barclays began coverage on shares of ConocoPhillips in a research report on Wednesday, April 10th. They set an “overweight” rating and a $158.00 price target on the stock. Finally, Susquehanna boosted their target price on shares of ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a research report on Monday, April 22nd. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $142.65.

ConocoPhillips Trading Down 3.5 %

COP opened at $125.62 on Wednesday. The stock has a market capitalization of $147.78 billion, a PE ratio of 13.87, a P/E/G ratio of 2.72 and a beta of 1.24. The firm’s fifty day moving average price is $123.20 and its 200 day moving average price is $117.67. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.29. ConocoPhillips has a 12-month low of $95.70 and a 12-month high of $135.18.

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

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were paid a dividend of $0.78 per share. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Thursday, February 15th. This represents a $3.12 annualized dividend and a yield of 2.48%. ConocoPhillips’s payout ratio is presently 25.61%.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, CEO Ryan Michael Lance sold 607,000 shares of the business’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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO William L. Jr. Bullock sold 45,200 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $123.32, for a total transaction of $5,574,064.00. Following the completion of the transaction, the chief financial officer now owns 44,153 shares in the company, valued at $5,444,947.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan Michael Lance sold 607,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $853,669.80. The disclosure for this sale can be found here. Insiders sold a total of 700,775 shares of company stock worth $87,615,169 over the last 90 days. Insiders own 0.34% of the company’s stock.

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.