ConocoPhillips (NYSE:COP) Shares Bought by Connecticut Wealth Management LLC

Connecticut Wealth Management LLC lifted its position in shares of ConocoPhillips (NYSE:COP) by 246.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,921 shares of the energy producer’s stock after purchasing an additional 12,747 shares during the period. Connecticut Wealth Management LLC’s holdings in ConocoPhillips were worth $2,080,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Stratos Wealth Partners LTD. increased its position in shares of ConocoPhillips by 7.0% during the third quarter. Stratos Wealth Partners LTD. now owns 24,607 shares of the energy producer’s stock worth $2,948,000 after acquiring an additional 1,610 shares during the last quarter. Brown Advisory Inc. increased its holdings in ConocoPhillips by 7.8% during the 3rd quarter. Brown Advisory Inc. now owns 134,285 shares of the energy producer’s stock worth $16,087,000 after purchasing an additional 9,723 shares during the last quarter. Signet Financial Management LLC raised its position in shares of ConocoPhillips by 5.8% in the 3rd quarter. Signet Financial Management LLC now owns 4,607 shares of the energy producer’s stock valued at $552,000 after purchasing an additional 251 shares in the last quarter. Kowal Investment Group LLC boosted its stake in shares of ConocoPhillips by 19.5% during the 3rd quarter. Kowal Investment Group LLC now owns 6,050 shares of the energy producer’s stock valued at $725,000 after buying an additional 986 shares during the last quarter. Finally, Caldwell Investment Management Ltd. acquired a new stake in shares of ConocoPhillips during the third quarter worth approximately $1,905,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Ryan Michael Lance sold 607,000 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $125.91, for a total value of $76,427,370.00. Following the transaction, the chief executive officer now owns 6,780 shares in the company, valued at $853,669.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other ConocoPhillips news, SVP Heather G. Hrap sold 4,548 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $110.55, for a total transaction of $502,781.40. Following the completion of the sale, the senior vice president now owns 2,654 shares of the company’s stock, valued at $293,399.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Michael Lance sold 607,000 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $125.91, for a total value of $76,427,370.00. Following the sale, the chief executive officer now directly owns 6,780 shares of the company’s stock, valued at approximately $853,669.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 700,775 shares of company stock worth $87,615,169. Company insiders own 0.34% of the company’s stock.

ConocoPhillips Price Performance

NYSE COP traded down $0.02 on Friday, reaching $122.23. The company’s stock had a trading volume of 5,020,657 shares, compared to its average volume of 4,434,834. ConocoPhillips has a twelve month low of $95.81 and a twelve month high of $135.18. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.29 and a current ratio of 1.35. The stock has a market cap of $143.79 billion, a PE ratio of 13.84, a PEG ratio of 2.68 and a beta of 1.25. The firm’s 50 day moving average is $123.85 and its two-hundred day moving average is $117.73.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.32. The company had revenue of $15.31 billion during the quarter, compared to the consensus estimate of $14.47 billion. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. During the same period in the prior year, the company earned $2.71 EPS. As a group, sell-side analysts predict that ConocoPhillips will post 9.11 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 13th will be issued a dividend of $0.78 per share. The ex-dividend date is Friday, May 10th. This represents a $3.12 annualized dividend and a yield of 2.55%. ConocoPhillips’s payout ratio is presently 26.27%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on COP shares. Wells Fargo & Company upped their price objective on ConocoPhillips from $149.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday. Morgan Stanley raised their price target on shares of ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Scotiabank raised their price target on shares of ConocoPhillips from $120.00 to $135.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 11th. Piper Sandler lifted their price objective on shares of ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Finally, Truist Financial cut their price objective on shares of ConocoPhillips from $170.00 to $160.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $142.76.

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.