Circle Wealth Management LLC Boosts Position in ConocoPhillips (NYSE:COP)

Circle Wealth Management LLC lifted its stake in shares of ConocoPhillips (NYSE:COP) by 6.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,352 shares of the energy producer’s stock after acquiring an additional 533 shares during the period. Circle Wealth Management LLC’s holdings in ConocoPhillips were worth $985,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Values First Advisors Inc. purchased a new stake in ConocoPhillips in the 3rd quarter valued at about $26,000. Stephens Consulting LLC raised its holdings in ConocoPhillips by 69.3% in the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after buying an additional 104 shares during the period. Reston Wealth Management LLC purchased a new stake in ConocoPhillips during the third quarter worth about $31,000. Truvestments Capital LLC purchased a new stake in ConocoPhillips during the third quarter worth about $31,000. Finally, Y.D. More Investments Ltd purchased a new stake in ConocoPhillips during the second quarter worth about $35,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Up 0.9 %

ConocoPhillips stock opened at $108.37 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The firm has a market capitalization of $124.72 billion, a price-to-earnings ratio of 12.89, a price-to-earnings-growth ratio of 0.88 and a beta of 1.21. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. The stock’s fifty day moving average is $108.77 and its two-hundred day moving average is $110.86.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. The business had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The business’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.16 earnings per share. Analysts predict that ConocoPhillips will post 7.76 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be paid a dividend of $0.78 per share. The ex-dividend date is Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.88%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is presently 37.10%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Wells Fargo & Company reiterated a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. Susquehanna boosted their price target on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. Mizuho boosted their price target on shares of ConocoPhillips from $129.00 to $132.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. reissued a “neutral” rating and set a $126.00 price objective (down from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. Finally, Truist Financial lowered their price objective on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $137.63.

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.