Axxcess Wealth Management LLC Raises Stock Position in ConocoPhillips (NYSE:COP)

Axxcess Wealth Management LLC increased its position in shares of ConocoPhillips (NYSE:COP) by 30.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 32,396 shares of the energy producer’s stock after acquiring an additional 7,492 shares during the period. Axxcess Wealth Management LLC’s holdings in ConocoPhillips were worth $3,760,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Stratos Wealth Partners LTD. boosted its stake in ConocoPhillips by 7.0% during the third quarter. Stratos Wealth Partners LTD. now owns 24,607 shares of the energy producer’s stock valued at $2,948,000 after buying an additional 1,610 shares during the period. Brown Advisory Inc. grew its stake in ConocoPhillips by 7.8% in the 3rd quarter. Brown Advisory Inc. now owns 134,285 shares of the energy producer’s stock worth $16,087,000 after buying an additional 9,723 shares in the last quarter. Signet Financial Management LLC increased its holdings in shares of ConocoPhillips by 5.8% in the 3rd quarter. Signet Financial Management LLC now owns 4,607 shares of the energy producer’s stock worth $552,000 after buying an additional 251 shares during the last quarter. Kowal Investment Group LLC increased its stake in ConocoPhillips by 19.5% in the third quarter. Kowal Investment Group LLC now owns 6,050 shares of the energy producer’s stock valued at $725,000 after acquiring an additional 986 shares during the last quarter. Finally, Caldwell Investment Management Ltd. purchased a new position in shares of ConocoPhillips in the 3rd quarter worth about $1,905,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

COP has been the subject of a number of recent research reports. Truist Financial dropped their target price on ConocoPhillips from $170.00 to $160.00 and set a “buy” rating for the company in a research report on Monday, April 29th. Barclays initiated coverage on ConocoPhillips in a report on Wednesday, April 10th. They issued an “overweight” rating and a $158.00 price objective on the stock. Raymond James reduced their price target on ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. UBS Group increased their price objective on ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Finally, Mizuho reissued a “neutral” rating and set a $139.00 price target (up previously from $132.00) on shares of ConocoPhillips in a research report on Friday, March 22nd. Five investment 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $142.76.

ConocoPhillips Stock Down 0.0 %

Shares of COP stock traded down $0.02 during mid-day trading on Friday, reaching $122.23. 5,020,657 shares of the company’s stock traded hands, compared to its average volume of 4,434,834. The company’s 50-day moving average price is $123.85 and its 200-day moving average price is $117.73. The company has a market cap of $143.79 billion, a P/E ratio of 13.84, a P/E/G ratio of 2.68 and a beta of 1.25. The company has a quick ratio of 1.29, a current ratio of 1.35 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 12 month low of $95.81 and a 12 month high of $135.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.32. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. The business had revenue of $15.31 billion for the quarter, compared to analysts’ expectations of $14.47 billion. During the same quarter in the prior year, the company earned $2.71 earnings per share. On average, equities analysts expect that ConocoPhillips will post 9.11 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

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

Insider Activity at ConocoPhillips

In other news, SVP Heather G. Hrap sold 4,548 shares of the company’s 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 transaction, the senior vice president now owns 2,654 shares in the company, valued at $293,399.70. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Heather G. Hrap sold 4,548 shares of the company’s 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 transaction, the senior vice president now directly owns 2,654 shares of the company’s stock, valued at $293,399.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Christopher P. Delk sold 8,505 shares of ConocoPhillips stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total value of $953,070.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 700,775 shares of company stock valued at $87,615,169. 0.34% of the stock is owned by insiders.

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.