Independent Advisor Alliance Raises Stock Position in ConocoPhillips (NYSE:COP)

Independent Advisor Alliance grew its holdings in shares of ConocoPhillips (NYSE:COP) by 0.8% during the fourth quarter, Holdings Channel reports. The firm owned 91,660 shares of the energy producer’s stock after purchasing an additional 735 shares during the quarter. Independent Advisor Alliance’s holdings in ConocoPhillips were worth $9,090,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of COP. CWA Asset Management Group LLC acquired a new position in shares of ConocoPhillips during the third quarter worth about $337,000. Sheets Smith Wealth Management grew its position in shares of ConocoPhillips by 8.2% during the third quarter. Sheets Smith Wealth Management now owns 3,571 shares of the energy producer’s stock worth $376,000 after buying an additional 270 shares in the last quarter. XML Financial LLC grew its position in shares of ConocoPhillips by 54.8% during the third quarter. XML Financial LLC now owns 6,367 shares of the energy producer’s stock worth $670,000 after buying an additional 2,253 shares in the last quarter. Axxcess Wealth Management LLC grew its position in shares of 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 shares of ConocoPhillips during the third quarter worth about $219,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Trading Up 2.2 %

NYSE:COP opened at $92.60 on Tuesday. The stock has a fifty day moving average price of $99.44 and a two-hundred day moving average price of $104.18. The stock has a market capitalization 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 debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. ConocoPhillips has a 1 year low of $86.81 and a 1 year high of $135.18.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data 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 return on equity of 17.26% and a net margin of 16.23%. As a group, sell-side analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Morgan Stanley assumed coverage on ConocoPhillips in a research report on Monday, December 16th. They set an “overweight” rating and a $128.00 price objective for the company. Truist Financial boosted their price objective on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Evercore ISI reaffirmed an “outperform” rating and issued a $165.00 price target on shares of ConocoPhillips in a report on Friday, December 6th. Barclays lowered their price target on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Finally, Raymond James downgraded ConocoPhillips from a “strong-buy” rating to an “outperform” rating and lowered their price target for the company from $157.00 to $124.00 in a report on Monday, February 10th. Two research 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 data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $133.47.

Insider Activity

In other news, Director R A. Walker purchased 10,400 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was acquired at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of 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 position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Arjun N. Murti purchased 2,500 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was purchased 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 of the company’s stock, valued at approximately $2,061,205. This represents a 13.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.34% of the company’s stock.

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.