Retirement Wealth Solutions LLC Buys Shares of 346 ConocoPhillips (NYSE:COP)

Retirement Wealth Solutions LLC purchased a new position in shares of ConocoPhillips (NYSE:COP) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 346 shares of the energy producer’s stock, valued at approximately $35,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Cypress Capital Group grew its holdings in ConocoPhillips by 0.5% during the 3rd quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock worth $1,978,000 after acquiring an additional 96 shares during the period. Aprio Wealth Management LLC grew its stake in shares of ConocoPhillips by 4.8% during the third quarter. Aprio Wealth Management LLC now owns 2,125 shares of the energy producer’s stock worth $224,000 after purchasing an additional 97 shares during the period. Godshalk Welsh Capital Management Inc. increased its holdings in ConocoPhillips by 1.2% in the second quarter. Godshalk Welsh Capital Management Inc. now owns 8,751 shares of the energy producer’s stock valued at $1,001,000 after purchasing an additional 100 shares during the last quarter. Smithfield Trust Co lifted its stake in ConocoPhillips by 3.3% in the third quarter. Smithfield Trust Co now owns 3,132 shares of the energy producer’s stock valued at $332,000 after buying an additional 100 shares during the period. Finally, Ignite Planners LLC boosted its holdings in ConocoPhillips by 1.0% during the third quarter. Ignite Planners LLC now owns 10,001 shares of the energy producer’s stock worth $1,053,000 after buying an additional 102 shares during the last quarter. 82.36% of the stock is owned by institutional investors.

Insider Activity

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on COP. Truist Financial upped their price target on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $132.00 to $134.00 in a report on Monday, December 16th. JPMorgan Chase & Co. raised shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $120.00 to $123.00 in a report on Thursday, December 5th. BMO Capital Markets raised their price objective on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Finally, Morgan Stanley assumed coverage on ConocoPhillips in a report on Monday, December 16th. They set an “overweight” rating and a $128.00 target price on the stock. 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $136.00.

ConocoPhillips Stock Up 0.1 %

Shares of COP stock opened at $105.76 on Friday. The firm’s fifty day moving average price is $103.91 and its two-hundred day moving average price is $107.53. 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 1 year low of $94.23 and a 1 year high of $135.18. The firm has a market capitalization of $121.72 billion, a P/E ratio of 12.58, a PEG ratio of 0.81 and a beta of 1.19.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. The business had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. ConocoPhillips’s quarterly revenue was down 8.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.16 earnings per share. On average, equities analysts predict that ConocoPhillips will post 7.7 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were paid a dividend of $0.78 per share. The ex-dividend date was Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.95%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is currently 37.10%.

About ConocoPhillips

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.