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

Modera Wealth Management LLC grew its holdings in ConocoPhillips (NYSE:COP) by 3.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,922 shares of the energy producer’s stock after acquiring an additional 358 shares during the period. Modera Wealth Management LLC’s holdings in ConocoPhillips were worth $1,083,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Farther Finance Advisors LLC raised its stake in shares of ConocoPhillips by 19.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 12,153 shares of the energy producer’s stock valued at $1,279,000 after buying an additional 2,007 shares during the last quarter. Chicago Partners Investment Group LLC grew its holdings in ConocoPhillips by 19.2% during the third quarter. Chicago Partners Investment Group LLC now owns 6,090 shares of the energy producer’s stock worth $636,000 after acquiring an additional 980 shares during the period. Princeton Global Asset Management LLC raised its position in ConocoPhillips by 52.5% during the third quarter. Princeton Global Asset Management LLC now owns 1,383 shares of the energy producer’s stock valued at $146,000 after acquiring an additional 476 shares in the last quarter. Pure Financial Advisors LLC lifted its holdings in ConocoPhillips by 65.7% in the third quarter. Pure Financial Advisors LLC now owns 5,548 shares of the energy producer’s stock valued at $584,000 after acquiring an additional 2,200 shares during the period. Finally, Janney Montgomery Scott LLC boosted its position in ConocoPhillips by 2.0% in the 3rd quarter. Janney Montgomery Scott LLC now owns 297,777 shares of the energy producer’s stock worth $31,350,000 after purchasing an additional 5,783 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

NYSE:COP opened at $92.52 on Tuesday. The company has a market cap of $117.72 billion, a P/E ratio of 11.88, a P/E/G ratio of 0.79 and a beta of 1.18. ConocoPhillips has a twelve month low of $91.56 and a twelve month high of $135.18. The company’s 50-day moving average price is $100.12 and its 200-day moving average price is $104.90. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. On average, sell-side analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.37%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s payout ratio is currently 40.05%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on COP shares. Evercore ISI reaffirmed an “outperform” rating and set a $165.00 target price on shares of ConocoPhillips in a report on Friday, December 6th. Wells Fargo & Company cut their price objective on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a report on Monday, February 10th. JPMorgan Chase & Co. raised shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $120.00 to $123.00 in a research note on Thursday, December 5th. UBS Group cut their price target on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Finally, Piper Sandler reduced their price target on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and an average price target of $133.47.

Insiders Place Their Bets

In other news, Director Arjun N. Murti purchased 2,500 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was acquired at an average price of $95.87 per share, with a total value of $239,675.00. Following the purchase, the director now directly owns 21,500 shares in the company, valued at approximately $2,061,205. This represents a 13.16 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director R A. Walker purchased 10,400 shares of ConocoPhillips stock in a transaction dated Tuesday, December 17th. The shares were purchased at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the transaction, the director now owns 38,000 shares in the company, valued at approximately $3,716,400. This trade represents a 37.68 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company’s stock.

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.