Global Wealth Strategies & Associates Acquires 153 Shares of ConocoPhillips (NYSE:COP)

Global Wealth Strategies & Associates raised its holdings in shares of ConocoPhillips (NYSE:COP) by 80.5% in the fourth quarter, HoldingsChannel reports. The firm owned 343 shares of the energy producer’s stock after buying an additional 153 shares during the quarter. Global Wealth Strategies & Associates’ holdings in ConocoPhillips were worth $34,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of COP. Confluence Investment Management LLC raised its holdings in shares of ConocoPhillips by 5.3% during the fourth quarter. Confluence Investment Management LLC now owns 5,852 shares of the energy producer’s stock valued at $580,000 after acquiring an additional 297 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of ConocoPhillips by 2.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,474,270 shares of the energy producer’s stock worth $155,211,000 after purchasing an additional 32,948 shares during the period. IMS Capital Management boosted its stake in shares of ConocoPhillips by 20.1% during the 3rd quarter. IMS Capital Management now owns 2,991 shares of the energy producer’s stock valued at $315,000 after purchasing an additional 500 shares in the last quarter. Syntax Research Inc. bought a new stake in shares of ConocoPhillips during the 3rd quarter valued at about $3,235,000. Finally, Fidelity D & D Bancorp Inc. increased its position in shares of ConocoPhillips by 4.7% during the third quarter. Fidelity D & D Bancorp Inc. now owns 2,884 shares of the energy producer’s stock valued at $304,000 after buying an additional 129 shares during the period. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Up 0.6 %

Shares of ConocoPhillips stock traded up $0.62 on Thursday, reaching $99.79. The company’s stock had a trading volume of 3,040,383 shares, compared to its average volume of 6,137,225. ConocoPhillips has a 52 week low of $94.23 and a 52 week high of $135.18. The firm’s fifty day simple moving average is $104.94 and its two-hundred day simple moving average is $108.25. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $114.85 billion, a price-to-earnings ratio of 11.87, a P/E/G ratio of 0.83 and a beta of 1.18.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping the consensus estimate of $1.68 by $0.10. The company had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. ConocoPhillips’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same period last year, the company earned $2.16 EPS. Equities analysts anticipate that ConocoPhillips will post 7.77 earnings per share 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 represents a $3.12 annualized dividend and a yield of 3.13%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is currently 37.10%.

Analyst Ratings Changes

Several analysts have weighed in on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 price objective on shares of ConocoPhillips in a research report on Friday, September 13th. Scotiabank dropped their price target on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Piper Sandler decreased their price objective on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Susquehanna boosted their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a report on Friday, November 1st. Finally, Truist Financial decreased their price target on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $136.71.

Insiders Place Their Bets

In other news, Director Arjun N. Murti purchased 2,500 shares of the business’s stock in a transaction on Friday, December 20th. The stock was acquired at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the purchase, the director now directly owns 21,500 shares in the company, valued at $2,061,205. This trade represents a 13.16 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director R A. Walker acquired 10,400 shares of the stock in a transaction dated Tuesday, December 17th. The stock was acquired at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the purchase, the director now directly owns 38,000 shares in the company, valued at approximately $3,716,400. This trade represents 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.

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.