GDS Wealth Management Grows Stock Holdings in ConocoPhillips (NYSE:COP)

GDS Wealth Management grew its stake in shares of ConocoPhillips (NYSE:COP) by 13.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,324 shares of the energy producer’s stock after acquiring an additional 267 shares during the period. GDS Wealth Management’s holdings in ConocoPhillips were worth $230,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in COP. Values First Advisors Inc. bought a new position in ConocoPhillips in the 3rd quarter valued at $26,000. Albion Financial Group UT boosted its stake in ConocoPhillips by 876.9% during the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after buying an additional 228 shares during the period. Reston Wealth Management LLC purchased a new position in ConocoPhillips during the third quarter worth about $31,000. Truvestments Capital LLC bought a new position in ConocoPhillips in the 3rd quarter worth about $31,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in shares of ConocoPhillips in the 3rd quarter valued at about $35,000. 82.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

COP has been the topic of several research analyst reports. JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $120.00 to $123.00 in a research report on Thursday, December 5th. Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $132.00 to $134.00 in a research report on Monday, December 16th. Truist Financial upped their target price on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Susquehanna raised their price target on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Finally, Evercore ISI reiterated an “outperform” rating and issued a $165.00 price objective on shares of ConocoPhillips in a report on Friday, December 6th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $135.89.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, Director R A. Walker purchased 10,400 shares of the stock in a transaction on Tuesday, December 17th. The stock was acquired at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the acquisition, the director now owns 38,000 shares in the company, valued at $3,716,400. The trade was a 37.68 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Arjun N. Murti bought 2,500 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was bought at an average price of $95.87 per share, with a total value of $239,675.00. Following the completion of the purchase, the director now directly owns 21,500 shares in the company, valued at $2,061,205. This represents a 13.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company’s stock.

ConocoPhillips Price Performance

COP opened at $98.47 on Tuesday. The company has a market capitalization of $113.33 billion, a price-to-earnings ratio of 11.71, a PEG ratio of 0.76 and a beta of 1.19. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 12-month low of $94.23 and a 12-month high of $135.18. The business’s fifty day simple moving average is $101.82 and its 200-day simple moving average is $106.59.

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.