Concord Wealth Partners Boosts Stock Holdings in ConocoPhillips (NYSE:COP)

Concord Wealth Partners raised its holdings in shares of ConocoPhillips (NYSE:COP) by 65.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,526 shares of the energy producer’s stock after buying an additional 4,957 shares during the period. Concord Wealth Partners’ holdings in ConocoPhillips were worth $1,454,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Sloy Dahl & Holst LLC raised its stake in ConocoPhillips by 3.3% in the third quarter. Sloy Dahl & Holst LLC now owns 2,629 shares of the energy producer’s stock worth $315,000 after buying an additional 85 shares in the last quarter. KLCM Advisors Inc. raised its stake in ConocoPhillips by 2.8% in the third quarter. KLCM Advisors Inc. now owns 3,305 shares of the energy producer’s stock worth $396,000 after buying an additional 89 shares in the last quarter. Evergreen Capital Management LLC raised its stake in ConocoPhillips by 0.5% in the third quarter. Evergreen Capital Management LLC now owns 18,944 shares of the energy producer’s stock worth $2,270,000 after buying an additional 89 shares in the last quarter. Endowment Wealth Management Inc. raised its stake in ConocoPhillips by 4.6% in the third quarter. Endowment Wealth Management Inc. now owns 2,055 shares of the energy producer’s stock worth $246,000 after buying an additional 90 shares in the last quarter. Finally, Your Advocates Ltd. LLP raised its stake in ConocoPhillips by 2.9% in the third quarter. Your Advocates Ltd. LLP now owns 3,340 shares of the energy producer’s stock worth $400,000 after buying an additional 93 shares in the last quarter. 82.36% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Heather G. Hrap sold 4,548 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total transaction of $502,781.40. Following the sale, the senior vice president now directly owns 2,654 shares in the company, valued at approximately $293,399.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ConocoPhillips news, SVP Heather G. Hrap sold 4,548 shares of ConocoPhillips stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total value of $502,781.40. Following the sale, the senior vice president now directly owns 2,654 shares in the company, valued at approximately $293,399.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Christopher P. Delk sold 8,505 shares of ConocoPhillips stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total transaction of $953,070.30. The disclosure for this sale can be found here. Insiders have sold 700,775 shares of company stock worth $87,615,169 in the last three months. Company insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

COP has been the subject of a number of analyst reports. Piper Sandler raised their target price on shares of ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Raymond James decreased their target price on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. Wells Fargo & Company raised their target price on shares of ConocoPhillips from $141.00 to $149.00 and gave the company an “overweight” rating in a research note on Wednesday, April 10th. Mizuho reaffirmed a “neutral” rating and set a $139.00 target price (up previously from $132.00) on shares of ConocoPhillips in a research note on Friday, March 22nd. Finally, Susquehanna increased their price target on shares of ConocoPhillips from $133.00 to $154.00 and gave the company a “positive” rating in a report on Monday, April 22nd. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $142.65.

ConocoPhillips Stock Performance

COP traded down $1.27 during trading on Wednesday, hitting $124.35. The company’s stock had a trading volume of 2,972,713 shares, compared to its average volume of 5,312,871. The company has a quick ratio of 1.29, a current ratio of 1.43 and a debt-to-equity ratio of 0.36. ConocoPhillips has a one year low of $95.70 and a one year high of $135.18. The firm has a market cap of $146.29 billion, a PE ratio of 13.87, a P/E/G ratio of 2.72 and a beta of 1.24. The business’s 50 day simple moving average is $123.20 and its 200-day simple moving average is $117.67.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.32. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. The business had revenue of $15.31 billion for the quarter, compared to the consensus estimate of $14.47 billion. During the same period last year, the firm earned $2.71 earnings per share. As a group, sell-side analysts predict that ConocoPhillips will post 9.57 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 19th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 2.51%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Thursday, February 15th. ConocoPhillips’s dividend payout ratio (DPR) is presently 25.61%.

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.