Encompass More Asset Management Purchases 338 Shares of ConocoPhillips (NYSE:COP)

Encompass More Asset Management boosted its position in ConocoPhillips (NYSE:COP) by 6.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,484 shares of the energy producer’s stock after purchasing an additional 338 shares during the quarter. Encompass More Asset Management’s holdings in ConocoPhillips were worth $544,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Impact Partnership Wealth LLC increased its holdings in shares of ConocoPhillips by 83.6% during the fourth quarter. Impact Partnership Wealth LLC now owns 14,266 shares of the energy producer’s stock worth $1,415,000 after purchasing an additional 6,496 shares during the period. Southland Equity Partners LLC grew its position in ConocoPhillips by 4.7% during the fourth quarter. Southland Equity Partners LLC now owns 4,409 shares of the energy producer’s stock worth $437,000 after buying an additional 196 shares in the last quarter. LexAurum Advisors LLC increased its stake in ConocoPhillips by 18.3% during the 4th quarter. LexAurum Advisors LLC now owns 4,250 shares of the energy producer’s stock worth $421,000 after acquiring an additional 658 shares during the period. RFG Advisory LLC grew its holdings in shares of ConocoPhillips by 72.0% during the 4th quarter. RFG Advisory LLC now owns 7,251 shares of the energy producer’s stock worth $719,000 after purchasing an additional 3,035 shares in the last quarter. Finally, Cornerstone Wealth Management LLC increased its holdings in ConocoPhillips by 9.7% in the 4th quarter. Cornerstone Wealth Management LLC now owns 13,949 shares of the energy producer’s stock valued at $1,383,000 after buying an additional 1,239 shares during the period. Institutional investors own 82.36% of the company’s stock.

Insider Buying and Selling

In other ConocoPhillips news, Director Arjun N. Murti purchased 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were acquired 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 $2,061,205. The trade was a 13.16 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director R A. Walker acquired 10,400 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were bought at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the acquisition, the director now directly owns 38,000 shares in the company, valued at approximately $3,716,400. This 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 company insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on COP. Susquehanna upped their target price on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. Raymond James boosted their price target on ConocoPhillips from $148.00 to $157.00 and gave the stock a “strong-buy” rating in a report on Thursday. Wells Fargo & Company reduced their target price on shares of ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating on the stock in a report on Tuesday, January 14th. Piper Sandler dropped their price target on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Finally, BMO Capital Markets increased their price objective on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $135.89.

ConocoPhillips Stock Up 0.5 %

Shares of NYSE COP opened at $104.52 on Friday. ConocoPhillips has a 12-month low of $94.23 and a 12-month high of $135.18. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The firm has a market cap of $120.29 billion, a PE ratio of 12.43, a P/E/G ratio of 0.86 and a beta of 1.19. The company’s fifty day simple moving average is $103.36 and its 200 day simple moving average is $107.22.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, October 31st. The energy producer reported $1.78 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 company had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. During the same period last year, the business posted $2.16 EPS. The firm’s revenue for the quarter was down 8.5% compared to the same quarter last year. As a group, sell-side analysts forecast that ConocoPhillips will post 7.65 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company 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 of this dividend was Friday, November 8th. ConocoPhillips’s dividend payout ratio is presently 37.10%.

ConocoPhillips Company 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.