Legacy Wealth Asset Management LLC Boosts Stock Holdings in ConocoPhillips (NYSE:COP)

Legacy Wealth Asset Management LLC boosted its stake in ConocoPhillips (NYSE:COP) by 7.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,245 shares of the energy producer’s stock after purchasing an additional 530 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in ConocoPhillips were worth $718,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Edgestream Partners L.P. grew its stake in shares of ConocoPhillips by 444.8% in the 2nd quarter. Edgestream Partners L.P. now owns 13,484 shares of the energy producer’s stock worth $1,542,000 after buying an additional 11,009 shares in the last quarter. XTX Topco Ltd grew its position in ConocoPhillips by 168.3% in the second quarter. XTX Topco Ltd now owns 12,638 shares of the energy producer’s stock worth $1,446,000 after acquiring an additional 7,928 shares in the last quarter. ProVise Management Group LLC increased its stake in ConocoPhillips by 10.2% during the second quarter. ProVise Management Group LLC now owns 50,288 shares of the energy producer’s stock worth $5,752,000 after acquiring an additional 4,655 shares during the last quarter. Intech Investment Management LLC raised its position in ConocoPhillips by 72.3% during the second quarter. Intech Investment Management LLC now owns 111,852 shares of the energy producer’s stock valued at $12,794,000 after purchasing an additional 46,942 shares during the period. Finally, Brighton Jones LLC lifted its stake in shares of ConocoPhillips by 9.3% in the 2nd quarter. Brighton Jones LLC now owns 14,990 shares of the energy producer’s stock valued at $1,715,000 after purchasing an additional 1,275 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

Insider Buying and Selling at ConocoPhillips

In related news, Director Arjun N. Murti bought 2,500 shares of the company’s stock in a transaction on Friday, December 20th. The shares were bought at an average price of $95.87 per share, with a total value of $239,675.00. Following the transaction, the director now owns 21,500 shares in the company, valued at approximately $2,061,205. This trade represents a 13.16 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director R A. Walker acquired 10,400 shares of the stock in a transaction dated Tuesday, December 17th. The shares were bought at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the purchase, the director now directly 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. 0.34% of the stock is owned by insiders.

ConocoPhillips Trading Up 0.1 %

NYSE:COP opened at $105.76 on Friday. The firm has a 50-day simple moving average of $103.91 and a 200-day simple moving average of $107.53. ConocoPhillips has a one year low of $94.23 and a one year high of $135.18. The firm has a market cap of $121.72 billion, a P/E ratio of 12.58, a P/E/G ratio of 0.81 and a beta of 1.19. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. The company had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. ConocoPhillips’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.16 earnings per share. Equities analysts anticipate 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. Investors of record on Monday, November 11th were given 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 yield of 2.95%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is presently 37.10%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on COP. Susquehanna increased their price target on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a report on Friday, November 1st. Scotiabank lowered their target price on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Morgan Stanley started coverage on shares of ConocoPhillips in a report on Monday, December 16th. They set an “overweight” rating and a $128.00 price target on the stock. JPMorgan Chase & Co. raised shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $120.00 to $123.00 in a research note on Thursday, December 5th. Finally, Piper Sandler cut their target price on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $136.00.

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.