Legacy Financial Advisors Inc. Increases Holdings in ConocoPhillips (NYSE:COP)

Legacy Financial Advisors Inc. lifted its holdings in ConocoPhillips (NYSE:COP) by 6.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,857 shares of the energy producer’s stock after purchasing an additional 394 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in ConocoPhillips were worth $796,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of COP. Stratos Wealth Partners LTD. raised its stake in shares of ConocoPhillips by 7.0% in the third quarter. Stratos Wealth Partners LTD. now owns 24,607 shares of the energy producer’s stock worth $2,948,000 after purchasing an additional 1,610 shares during the last quarter. Brown Advisory Inc. grew its holdings in shares of ConocoPhillips by 7.8% in the third quarter. Brown Advisory Inc. now owns 134,285 shares of the energy producer’s stock worth $16,087,000 after acquiring an additional 9,723 shares during the period. Signet Financial Management LLC grew its holdings in shares of ConocoPhillips by 5.8% in the third quarter. Signet Financial Management LLC now owns 4,607 shares of the energy producer’s stock worth $552,000 after acquiring an additional 251 shares during the period. Kowal Investment Group LLC grew its holdings in shares of ConocoPhillips by 19.5% in the third quarter. Kowal Investment Group LLC now owns 6,050 shares of the energy producer’s stock worth $725,000 after acquiring an additional 986 shares during the period. Finally, Caldwell Investment Management Ltd. bought a new stake in shares of ConocoPhillips in the third quarter worth $1,905,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insider Buying and Selling

In related news, SVP Heather G. Hrap sold 4,548 shares of the business’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 in the company, valued at approximately $293,399.70. The sale was disclosed in a document filed 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 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 owns 2,654 shares of the company’s stock, valued at approximately $293,399.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Michael Lance sold 607,000 shares of ConocoPhillips stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $125.91, for a total value of $76,427,370.00. Following the sale, the chief executive officer now directly 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 have sold a total of 700,775 shares of company stock worth $87,615,169 in the last ninety days. 0.34% of the stock is owned by insiders.

ConocoPhillips Stock Down 0.0 %

Shares of NYSE:COP traded down $0.02 on Friday, reaching $122.23. The company had a trading volume of 5,020,657 shares, compared to its average volume of 4,434,834. ConocoPhillips has a 52-week low of $95.81 and a 52-week high of $135.18. The firm’s 50 day simple moving average is $123.85 and its 200-day simple moving average is $117.73. The firm has a market capitalization of $143.79 billion, a PE ratio of 13.84, a PEG ratio of 2.68 and a beta of 1.25. The company has a current ratio of 1.35, a quick ratio of 1.29 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.32. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. The business had revenue of $15.31 billion for the quarter, compared to the consensus estimate of $14.47 billion. During the same period last year, the business posted $2.71 EPS. As a group, analysts expect that ConocoPhillips will post 9.11 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

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

Wall Street Analyst Weigh In

COP has been the subject of several research analyst reports. Mizuho reaffirmed a “neutral” rating and issued a $139.00 price objective (up previously from $132.00) on shares of ConocoPhillips in a report on Friday, March 22nd. Scotiabank boosted their price target on ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. UBS Group boosted their price target on ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Truist Financial cut their price target on ConocoPhillips from $170.00 to $160.00 and set a “buy” rating for the company in a report on Monday, April 29th. Finally, Barclays began coverage on ConocoPhillips in a report on Wednesday, April 10th. They set an “overweight” rating and a $158.00 price target for the company. 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $142.76.

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.