Heritage Wealth Management Inc. Buys 14,840 Shares of ConocoPhillips (NYSE:COP)

Heritage Wealth Management Inc. grew its stake in shares of ConocoPhillips (NYSE:COP) by 134.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 25,861 shares of the energy producer’s stock after acquiring an additional 14,840 shares during the period. ConocoPhillips comprises about 0.9% of Heritage Wealth Management Inc.’s holdings, making the stock its 23rd largest position. Heritage Wealth Management Inc.’s holdings in ConocoPhillips were worth $2,565,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of COP. State Street Corp increased its holdings in shares of ConocoPhillips by 19.0% during the third quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock valued at $7,046,263,000 after acquiring an additional 10,663,093 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of ConocoPhillips by 20.2% during the third quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock valued at $3,280,725,000 after acquiring an additional 5,240,016 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of ConocoPhillips by 59.7% during the third quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock valued at $1,311,369,000 after acquiring an additional 4,656,040 shares in the last quarter. Pacer Advisors Inc. increased its holdings in shares of ConocoPhillips by 5,422.3% during the third quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock valued at $482,996,000 after acquiring an additional 4,504,653 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of ConocoPhillips by 401.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer’s stock valued at $438,690,000 after acquiring an additional 3,541,504 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Up 1.8 %

COP stock opened at $99.12 on Friday. ConocoPhillips has a twelve month low of $94.23 and a twelve month high of $135.18. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The stock has a market cap of $126.12 billion, a P/E ratio of 12.72, a PEG ratio of 0.79 and a beta of 1.18. The business’s 50-day moving average price is $100.19 and its 200-day moving average price is $105.06.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. On average, equities research analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 17th will be issued a $0.78 dividend. The ex-dividend date is Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.15%. ConocoPhillips’s dividend payout ratio is presently 40.05%.

Insider Buying and Selling

In other ConocoPhillips news, Director Arjun N. Murti purchased 2,500 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were bought 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 in the company, valued at approximately $2,061,205. This trade represents a 13.16 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director R A. Walker purchased 10,400 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was acquired at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the acquisition, the director now owns 38,000 shares in the company, valued at $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 insiders.

Analyst Upgrades and Downgrades

COP has been the subject of several analyst reports. Truist Financial raised their price target on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a report on Monday, January 13th. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $132.00 to $134.00 in a report on Monday, December 16th. The Goldman Sachs Group set a $132.00 price objective on ConocoPhillips in a report on Thursday, January 30th. Raymond James downgraded ConocoPhillips from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the stock from $157.00 to $124.00 in a report on Monday, February 10th. Finally, TD Cowen began coverage on ConocoPhillips in a report on Friday, January 17th. They issued a “buy” rating and a $125.00 price objective for the company. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus target price of $133.47.

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.