Gray Wealth Management Inc. Acquires 104 Shares of ConocoPhillips (NYSE:COP)

Gray Wealth Management Inc. lifted its holdings in ConocoPhillips (NYSE:COP) by 5.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,171 shares of the energy producer’s stock after purchasing an additional 104 shares during the quarter. Gray Wealth Management Inc.’s holdings in ConocoPhillips were worth $215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of COP. SlateStone Wealth LLC raised its holdings in shares of ConocoPhillips by 52.2% during the fourth quarter. SlateStone Wealth LLC now owns 21,064 shares of the energy producer’s stock valued at $2,089,000 after purchasing an additional 7,228 shares during the last quarter. Nicholas Company Inc. lifted its holdings in shares of ConocoPhillips by 61.4% during the 4th quarter. Nicholas Company Inc. now owns 66,357 shares of the energy producer’s stock valued at $6,581,000 after buying an additional 25,232 shares during the period. First National Advisers LLC boosted its stake in shares of ConocoPhillips by 10.3% in the 4th quarter. First National Advisers LLC now owns 22,017 shares of the energy producer’s stock worth $2,183,000 after buying an additional 2,062 shares during the last quarter. GWN Securities Inc. bought a new stake in shares of ConocoPhillips in the fourth quarter worth $472,000. Finally, Glenview Trust co grew its holdings in shares of ConocoPhillips by 3.8% in the fourth quarter. Glenview Trust co now owns 22,905 shares of the energy producer’s stock worth $2,271,000 after acquiring an additional 840 shares during the period. 82.36% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

ConocoPhillips Stock Up 3.0 %

Shares of COP opened at $99.10 on Monday. The business’s 50 day moving average is $99.22 and its 200 day moving average is $103.75. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 12-month low of $86.81 and a 12-month high of $135.18. The company has a market capitalization of $126.09 billion, a PE ratio of 12.72, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. Research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

Analyst Ratings Changes

Several research analysts have issued reports on COP shares. Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $132.00 to $134.00 in a research report on Monday, December 16th. Raymond James downgraded shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the stock from $157.00 to $124.00 in a report on Monday, February 10th. Truist Financial upped their target price on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a report on Monday, January 13th. UBS Group dropped their price target on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Finally, JPMorgan Chase & Co. cut their price objective on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a research report on Thursday. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.05.

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.