Integris Wealth Management LLC Acquires 232 Shares of ConocoPhillips (NYSE:COP)

Integris Wealth Management LLC lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 10.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,550 shares of the energy producer’s stock after purchasing an additional 232 shares during the period. Integris Wealth Management LLC’s holdings in ConocoPhillips were worth $253,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Albion Financial Group UT boosted its position in ConocoPhillips by 876.9% in the 4th 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 last quarter. Values First Advisors Inc. bought a new position in ConocoPhillips in the third quarter valued at about $26,000. Reston Wealth Management LLC acquired a new stake in ConocoPhillips in the third quarter worth about $31,000. Truvestments Capital LLC bought a new stake in ConocoPhillips during the 3rd quarter worth about $31,000. Finally, Global Wealth Strategies & Associates lifted its holdings in ConocoPhillips by 80.5% in the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after buying an additional 153 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Morgan Stanley initiated coverage on shares of ConocoPhillips in a research note on Monday, December 16th. They issued an “overweight” rating and a $128.00 target price for the company. TD Cowen began coverage on ConocoPhillips in a report on Friday, January 17th. They issued a “buy” rating and a $125.00 price target for the company. Scotiabank cut their price objective on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Wells Fargo & Company lowered their target price on ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th. Finally, Piper Sandler dropped their target price on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $135.89.

ConocoPhillips Stock Performance

NYSE:COP opened at $101.41 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. The stock has a market cap of $116.72 billion, a P/E ratio of 12.06, a PEG ratio of 0.78 and a beta of 1.19. The stock has a 50 day simple moving average of $102.29 and a 200 day simple moving average of $106.86. ConocoPhillips has a 1-year low of $94.23 and a 1-year high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The business had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. During the same period in the previous year, the company posted $2.16 earnings per share. The firm’s revenue for the quarter was down 8.5% compared to the same quarter last year. Research analysts anticipate that ConocoPhillips will post 7.64 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Arjun N. Murti purchased 2,500 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was bought at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the purchase, the director now owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. The trade was a 13.16 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director R A. Walker acquired 10,400 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, December 17th. The shares were purchased at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the transaction, the director now directly 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 disclosure for this purchase can be found here. 0.34% of the stock is currently owned by company 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.