Fragasso Financial Advisors Inc Acquires Shares of 3,516 ConocoPhillips (NYSE:COP)

Fragasso Financial Advisors Inc bought a new position in shares of ConocoPhillips (NYSE:COPFree Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 3,516 shares of the energy producer’s stock, valued at approximately $349,000.

A number of other hedge funds have also modified their holdings of COP. Values First Advisors Inc. purchased a new stake in ConocoPhillips during the 3rd quarter valued at about $26,000. Reston Wealth Management LLC acquired a new position in shares of ConocoPhillips during the 3rd quarter worth approximately $31,000. Truvestments Capital LLC purchased a new stake in shares of ConocoPhillips in the third quarter valued at approximately $31,000. Global Wealth Strategies & Associates increased its holdings in shares of ConocoPhillips by 80.5% in the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after purchasing an additional 153 shares during the last quarter. Finally, RPg Family Wealth Advisory LLC purchased a new position in ConocoPhillips during the third quarter worth approximately $35,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Up 2.3 %

Shares of NYSE:COP opened at $104.29 on Tuesday. The firm has a market capitalization of $120.03 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 0.83 and a beta of 1.19. ConocoPhillips has a 1 year low of $94.23 and a 1 year high of $135.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The firm’s 50-day moving average is $104.30 and its two-hundred day moving average is $107.63.

ConocoPhillips (NYSE:COPGet Free Report) last announced its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. During the same period in the prior year, the firm earned $2.16 EPS. The firm’s revenue for the quarter was down 8.5% on a year-over-year basis. Analysts predict that ConocoPhillips will post 7.77 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were issued a $0.78 dividend. The ex-dividend date of this dividend was Friday, November 8th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a yield of 2.99%. ConocoPhillips’s dividend payout ratio (DPR) is 37.10%.

Insider Buying and Selling

In other ConocoPhillips news, Director Arjun N. Murti bought 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were purchased at an average price of $95.87 per share, with a total value of $239,675.00. Following the completion of the acquisition, the director now directly owns 21,500 shares of the company’s stock, valued at $2,061,205. This represents a 13.16 % increase in their position. The purchase 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 the firm’s stock in a transaction on Tuesday, December 17th. The shares were acquired at an average cost 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 in the company, valued at $3,716,400. The trade was a 37.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by insiders.

Analysts Set New Price Targets

COP has been the subject of several analyst reports. UBS Group dropped their target price on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Morgan Stanley initiated coverage on shares of ConocoPhillips in a research report on Monday, December 16th. They set an “overweight” rating and a $128.00 price objective for the company. Piper Sandler reduced their target price on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Scotiabank dropped their price target on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Finally, Truist Financial lifted their price target on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research report on Monday. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $136.76.

Read Our Latest Report on ConocoPhillips

ConocoPhillips Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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