ConocoPhillips (NYSE:COP) Shares Purchased by Founders Financial Alliance LLC

Founders Financial Alliance LLC raised its position in ConocoPhillips (NYSE:COP) by 9.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 4,546 shares of the energy producer’s stock after purchasing an additional 407 shares during the period. Founders Financial Alliance LLC’s holdings in ConocoPhillips were worth $451,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. CWA Asset Management Group LLC purchased a new position in ConocoPhillips in the 3rd quarter worth approximately $337,000. Sheets Smith Wealth Management increased its holdings in shares of ConocoPhillips by 8.2% in the third quarter. Sheets Smith Wealth Management now owns 3,571 shares of the energy producer’s stock valued at $376,000 after purchasing an additional 270 shares during the last quarter. XML Financial LLC increased its holdings in shares of ConocoPhillips by 54.8% in the third quarter. XML Financial LLC now owns 6,367 shares of the energy producer’s stock valued at $670,000 after purchasing an additional 2,253 shares during the last quarter. Axxcess Wealth Management LLC lifted its position in ConocoPhillips by 0.6% during the third quarter. Axxcess Wealth Management LLC now owns 33,867 shares of the energy producer’s stock worth $3,566,000 after buying an additional 214 shares in the last quarter. Finally, Legacy Capital Wealth Partners LLC acquired a new position in ConocoPhillips during the third quarter worth $219,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Price Performance

COP opened at $92.60 on Tuesday. The stock’s 50-day moving average price is $99.44 and its 200 day moving average price is $104.18. ConocoPhillips has a 12-month low of $86.81 and a 12-month high of $135.18. The firm has a market cap of $117.82 billion, a price-to-earnings ratio of 11.89, a PEG ratio of 0.79 and a beta of 1.12. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. As a group, sell-side analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were paid a $0.78 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.37%. ConocoPhillips’s dividend payout ratio (DPR) is 40.05%.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on COP. Raymond James downgraded ConocoPhillips from a “strong-buy” rating to an “outperform” rating and cut their target price for the stock from $157.00 to $124.00 in a research note on Monday, February 10th. JPMorgan Chase & Co. upgraded 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 report on Thursday, December 5th. Wells Fargo & Company reduced their target price on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. TD Cowen began coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They issued a “buy” rating and a $125.00 price target for the company. Finally, Piper Sandler reduced their price target on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $133.47.

About ConocoPhillips

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.