ConocoPhillips $COP Shares Bought by NewEdge Wealth LLC

NewEdge Wealth LLC increased its holdings in ConocoPhillips (NYSE:COP) by 34.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 29,492 shares of the energy producer’s stock after acquiring an additional 7,628 shares during the quarter. NewEdge Wealth LLC’s holdings in ConocoPhillips were worth $2,761,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of COP. Capital International Investors lifted its stake in shares of ConocoPhillips by 18.2% in the third quarter. Capital International Investors now owns 45,645,397 shares of the energy producer’s stock worth $4,318,239,000 after acquiring an additional 7,037,873 shares in the last quarter. Primecap Management Co. CA lifted its stake in shares of ConocoPhillips by 31.3% in the third quarter. Primecap Management Co. CA now owns 10,351,010 shares of the energy producer’s stock worth $979,102,000 after acquiring an additional 2,467,555 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of ConocoPhillips by 20.6% in the third quarter. Ameriprise Financial Inc. now owns 12,994,674 shares of the energy producer’s stock worth $1,228,886,000 after acquiring an additional 2,216,010 shares in the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of ConocoPhillips in the third quarter worth about $135,265,000. Finally, SG Americas Securities LLC lifted its stake in shares of ConocoPhillips by 505.9% in the fourth quarter. SG Americas Securities LLC now owns 589,980 shares of the energy producer’s stock worth $55,228,000 after acquiring an additional 735,319 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Activity at ConocoPhillips

In other news, EVP Nicholas G. Olds sold 14,522 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $119.36, for a total transaction of $1,733,345.92. Following the completion of the transaction, the executive vice president directly owned 12,389 shares of the company’s stock, valued at approximately $1,478,751.04. This represents a 53.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Andrew D. Lundquist sold 34,500 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $119.68, for a total value of $4,128,960.00. Following the transaction, the senior vice president directly owned 17,469 shares of the company’s stock, valued at $2,090,689.92. This trade represents a 66.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 734,891 shares of company stock valued at $93,345,692. 0.09% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

COP has been the topic of several recent analyst reports. Citigroup boosted their price target on ConocoPhillips from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, April 2nd. Sanford C. Bernstein boosted their price target on ConocoPhillips from $98.00 to $121.00 and gave the stock an “outperform” rating in a research note on Monday, April 13th. Argus boosted their price objective on ConocoPhillips from $111.00 to $128.00 and gave the company a “strong-buy” rating in a report on Friday, February 13th. BMO Capital Markets boosted their price objective on ConocoPhillips from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Tuesday, April 7th. Finally, Piper Sandler boosted their price objective on ConocoPhillips from $154.00 to $157.00 and gave the company an “overweight” rating in a report on Wednesday, April 8th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus price target of $133.04.

ConocoPhillips Stock Up 1.9%

NYSE:COP opened at $117.75 on Wednesday. The firm has a market capitalization of $143.45 billion, a PE ratio of 19.99, a price-to-earnings-growth ratio of 1.62 and a beta of 0.14. The stock has a 50 day moving average of $122.95 and a 200-day moving average of $105.73. ConocoPhillips has a 52 week low of $84.28 and a 52 week high of $135.87. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, beating the consensus estimate of $1.72 by $0.17. The company had revenue of $15.76 billion during the quarter, compared to analyst estimates of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The business’s revenue was down 6.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.09 earnings per share. Analysts predict that ConocoPhillips will post 9.5 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 11th will be issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, May 11th. This represents a $3.36 annualized dividend and a dividend yield of 2.9%. ConocoPhillips’s dividend payout ratio is 57.05%.

ConocoPhillips Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.