Angeles Wealth Management LLC Raises Holdings in ConocoPhillips (NYSE:COP)

Angeles Wealth Management LLC raised its holdings in ConocoPhillips (NYSE:COP) by 13.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 8,994 shares of the energy producer’s stock after purchasing an additional 1,040 shares during the period. Angeles Wealth Management LLC’s holdings in ConocoPhillips were worth $892,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of COP. Tevis Investment Management raised its holdings in ConocoPhillips by 24.3% in the 4th quarter. Tevis Investment Management now owns 2,782 shares of the energy producer’s stock valued at $276,000 after buying an additional 544 shares during the period. Legacy Financial Strategies LLC increased its position in shares of ConocoPhillips by 11.4% during the fourth quarter. Legacy Financial Strategies LLC now owns 2,533 shares of the energy producer’s stock valued at $253,000 after acquiring an additional 259 shares during the last quarter. Newbridge Financial Services Group Inc. raised its stake in shares of ConocoPhillips by 1,406.9% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,085 shares of the energy producer’s stock valued at $108,000 after acquiring an additional 1,013 shares during the period. Stephens Inc. AR lifted its holdings in shares of ConocoPhillips by 0.4% in the 4th quarter. Stephens Inc. AR now owns 60,998 shares of the energy producer’s stock worth $6,049,000 after acquiring an additional 260 shares during the last quarter. Finally, Stockman Wealth Management Inc. lifted its holdings in shares of ConocoPhillips by 3.4% in the 4th quarter. Stockman Wealth Management Inc. now owns 4,016 shares of the energy producer’s stock worth $398,000 after acquiring an additional 131 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of COP opened at $98.34 on Monday. The firm has a market capitalization of $113.18 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 0.77 and a beta of 1.18. The firm’s fifty day simple moving average is $101.05 and its 200-day simple moving average is $106.15. ConocoPhillips has a twelve month low of $94.23 and a twelve month high of $135.18. The company has a current ratio of 1.29, a quick ratio of 1.16 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, beating 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 analysts forecast that ConocoPhillips will post 8.3 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 17th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend is Friday, February 14th. ConocoPhillips’s dividend payout ratio (DPR) is 40.05%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on COP shares. Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $132.00 to $134.00 in a research report on Monday, December 16th. TD Cowen assumed coverage on ConocoPhillips in a report on Friday, January 17th. They issued a “buy” rating and a $125.00 price objective on the stock. Barclays raised their target price on ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Piper Sandler dropped their target price on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Finally, Raymond James increased their price target on shares of ConocoPhillips from $148.00 to $157.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $135.89.

Insider Buying and Selling at ConocoPhillips

In other news, Director R A. Walker acquired 10,400 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were bought 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 owns 38,000 shares in the company, valued at $3,716,400. This trade represents a 37.68 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Arjun N. Murti bought 2,500 shares of ConocoPhillips stock in a transaction dated Friday, December 20th. The stock was purchased at an average cost 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 in the company, valued at approximately $2,061,205. The trade was a 13.16 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by insiders.

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.