ConocoPhillips (NYSE:COP) Shares Purchased by Modern Wealth Management LLC

Modern Wealth Management LLC grew its position in shares of ConocoPhillips (NYSE:COP) by 48.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,702 shares of the energy producer’s stock after acquiring an additional 4,141 shares during the quarter. Modern Wealth Management LLC’s holdings in ConocoPhillips were worth $1,264,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. CoreFirst Bank & Trust purchased a new position in ConocoPhillips in the fourth quarter valued at approximately $1,137,000. Barnett & Company Inc. raised its stake in shares of ConocoPhillips by 2.5% in the 4th quarter. Barnett & Company Inc. now owns 23,556 shares of the energy producer’s stock valued at $2,336,000 after acquiring an additional 565 shares during the period. Prudential Financial Inc. lifted its holdings in shares of ConocoPhillips by 2.0% during the 4th quarter. Prudential Financial Inc. now owns 1,690,466 shares of the energy producer’s stock valued at $167,644,000 after acquiring an additional 33,503 shares in the last quarter. Corebridge Financial Inc. boosted its position in ConocoPhillips by 4.4% during the 4th quarter. Corebridge Financial Inc. now owns 297,300 shares of the energy producer’s stock worth $29,483,000 after purchasing an additional 12,420 shares during the period. Finally, United Services Automobile Association increased its holdings in ConocoPhillips by 1.6% in the 4th quarter. United Services Automobile Association now owns 162,762 shares of the energy producer’s stock valued at $16,141,000 after purchasing an additional 2,528 shares in the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Evercore ISI reaffirmed an “outperform” rating and issued a $165.00 target price on shares of ConocoPhillips in a research report on Friday, December 6th. TD Cowen started coverage on shares of ConocoPhillips in a research report on Friday, January 17th. They issued a “buy” rating and a $125.00 price objective for the company. JPMorgan Chase & Co. reduced their target price on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Morgan Stanley assumed coverage on shares of ConocoPhillips in a report on Monday, December 16th. They set an “overweight” rating and a $128.00 price target for the company. Finally, Barclays cut their price objective on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $133.05.

ConocoPhillips Trading Up 0.2 %

ConocoPhillips stock opened at $102.44 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. ConocoPhillips has a 1 year low of $86.81 and a 1 year high of $135.18. The firm’s 50-day moving average is $99.12 and its 200-day moving average is $103.31. The company has a market cap of $130.34 billion, a P/E ratio of 13.15, a PEG ratio of 0.79 and a beta of 1.12.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS 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%. On average, equities analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were paid a dividend of $0.78 per share. The ex-dividend date was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.05%. ConocoPhillips’s payout ratio is currently 40.05%.

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.