Marion Wealth Management Purchases 565 Shares of ConocoPhillips (NYSE:COP)

Marion Wealth Management raised its holdings in shares of ConocoPhillips (NYSE:COP) by 4.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 13,565 shares of the energy producer’s stock after buying an additional 565 shares during the period. Marion Wealth Management’s holdings in ConocoPhillips were worth $1,345,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Values First Advisors Inc. acquired a new stake in ConocoPhillips in the 3rd quarter valued at $26,000. Reston Wealth Management LLC bought a new position in shares of ConocoPhillips in the 3rd quarter valued at about $31,000. Truvestments Capital LLC acquired a new stake in shares of ConocoPhillips in the third quarter valued at about $31,000. Global Wealth Strategies & Associates raised its holdings in ConocoPhillips by 80.5% during the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after acquiring an additional 153 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC acquired a new position in ConocoPhillips during the third quarter valued at approximately $35,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at ConocoPhillips

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

Wall Street Analysts Forecast Growth

COP has been the subject of several recent analyst reports. Piper Sandler cut their price objective on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Barclays lifted their price objective on shares of ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. 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. Morgan Stanley assumed coverage on ConocoPhillips in a research report on Monday, December 16th. They set an “overweight” rating and a $128.00 price target on the stock. Finally, Wells Fargo & Company raised their price objective on ConocoPhillips from $131.00 to $134.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $136.76.

ConocoPhillips Price Performance

NYSE COP traded up $2.37 on Monday, hitting $104.29. 7,336,452 shares of the company’s stock were exchanged, compared to its average volume of 5,902,448. The stock has a 50-day moving average of $104.39 and a 200-day moving average of $107.70. 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 52 week low of $94.23 and a 52 week 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.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.10. The business had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. ConocoPhillips’s revenue was down 8.5% compared to the same quarter last year. During the same period last year, the firm posted $2.16 earnings per share. Analysts expect that ConocoPhillips will post 7.77 earnings per share for the current year.

ConocoPhillips Increases Dividend

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

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.