Gray Wealth Management Inc. Increases Stock Holdings in ConocoPhillips (NYSE:COP)

Gray Wealth Management Inc. boosted its stake in shares of ConocoPhillips (NYSE:COP) by 5.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,171 shares of the energy producer’s stock after buying an additional 104 shares during the quarter. Gray Wealth Management Inc.’s holdings in ConocoPhillips were worth $215,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Atlanta Consulting Group Advisors LLC bought a new position in shares of ConocoPhillips during the third quarter valued at approximately $410,000. Tower Bridge Advisors grew its position in ConocoPhillips by 24.7% in the 3rd quarter. Tower Bridge Advisors now owns 7,479 shares of the energy producer’s stock valued at $787,000 after acquiring an additional 1,481 shares during the last quarter. Concord Asset Management LLC VA increased its stake in ConocoPhillips by 11.7% in the third quarter. Concord Asset Management LLC VA now owns 19,091 shares of the energy producer’s stock worth $2,010,000 after purchasing an additional 1,998 shares during the period. Claro Advisors LLC lifted its position in shares of ConocoPhillips by 23.5% during the third quarter. Claro Advisors LLC now owns 4,215 shares of the energy producer’s stock worth $444,000 after purchasing an additional 803 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in shares of ConocoPhillips by 0.3% during the third quarter. Thrivent Financial for Lutherans now owns 1,210,124 shares of the energy producer’s stock valued at $127,402,000 after purchasing an additional 3,877 shares during the period. 82.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on COP shares. Truist Financial lifted their price objective on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a report on Monday, January 13th. TD Cowen started coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They set a “buy” rating and a $125.00 price target for the company. Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $132.00 to $134.00 in a research note on Monday, December 16th. UBS Group reduced their price objective on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Finally, Barclays lowered their target price on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average target price of $133.05.

Insider Transactions at ConocoPhillips

In other news, Director R A. Walker bought 10,400 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was purchased at an average price 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 of the company’s stock, valued at $3,716,400. This trade represents a 37.68 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arjun N. Murti bought 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was purchased at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the transaction, the director now owns 21,500 shares of the company’s stock, valued at $2,061,205. The trade was a 13.16 % 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.

ConocoPhillips Stock Up 3.0 %

ConocoPhillips stock opened at $99.10 on Monday. The business has a fifty day moving average price of $99.22 and a 200-day moving average price of $103.75. ConocoPhillips has a 1-year low of $86.81 and a 1-year high of $135.18. The stock has a market capitalization of $126.09 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 0.79 and a beta of 1.12. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, topping 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%. Equities research analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

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

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.