Marion Wealth Management Boosts Holdings in ConocoPhillips (NYSE:COP)

Marion Wealth Management lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 4.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,565 shares of the energy producer’s stock after acquiring an additional 565 shares during the period. Marion Wealth Management’s holdings in ConocoPhillips were worth $1,345,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Values First Advisors Inc. acquired a new position in ConocoPhillips in the third quarter valued at $26,000. Reston Wealth Management LLC acquired a new position in shares of ConocoPhillips during the third quarter worth about $31,000. Truvestments Capital LLC acquired a new stake in ConocoPhillips in the third quarter valued at approximately $31,000. Fairway Wealth LLC increased its stake in ConocoPhillips by 95.6% during the 2nd quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock worth $36,000 after buying an additional 153 shares during the period. Finally, RPg Family Wealth Advisory LLC purchased a new position in ConocoPhillips in the third quarter valued at about $35,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

ConocoPhillips Price Performance

COP stock traded up $2.37 during trading on Monday, hitting $104.29. 7,336,452 shares of the stock traded hands, compared to its average volume of 5,902,448. The stock has a market cap of $120.03 billion, a price-to-earnings ratio of 12.40, a P/E/G ratio of 0.83 and a beta of 1.19. ConocoPhillips has a one year low of $94.23 and a one year high of $135.18. 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 company has a 50 day simple moving average of $104.39 and a 200 day simple moving average of $107.70.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data 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 firm had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. During the same quarter in the previous year, the company posted $2.16 EPS. The business’s revenue for the quarter was down 8.5% compared to the same quarter last year. Equities analysts expect that ConocoPhillips will post 7.77 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.99%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, November 8th. ConocoPhillips’s dividend payout ratio is presently 37.10%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on COP. Piper Sandler dropped their price target on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Evercore ISI reaffirmed an “outperform” rating and issued a $165.00 price target on shares of ConocoPhillips in a research note on Friday, December 6th. Susquehanna upped their price target on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a report on Friday, November 1st. Truist Financial raised their price objective on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday. Finally, 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 price objective for the company. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, ConocoPhillips presently has an average rating of “Buy” and a consensus price target of $136.76.

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.