ConocoPhillips (NYSE:COP) Holdings Lifted by Turtle Creek Wealth Advisors LLC

Turtle Creek Wealth Advisors LLC increased its stake in shares of ConocoPhillips (NYSE:COP) by 2.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,873 shares of the energy producer’s stock after purchasing an additional 158 shares during the quarter. Turtle Creek Wealth Advisors LLC’s holdings in ConocoPhillips were worth $724,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the stock. Values First Advisors Inc. acquired a new stake in ConocoPhillips during the third quarter valued at $26,000. Stephens Consulting LLC increased its stake in shares of ConocoPhillips by 69.3% during the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after purchasing an additional 104 shares during the last quarter. Reston Wealth Management LLC bought a new position in shares of ConocoPhillips during the 3rd quarter valued at $31,000. Y.D. More Investments Ltd acquired a new stake in shares of ConocoPhillips in the 2nd quarter valued at $35,000. Finally, Fairway Wealth LLC boosted its holdings in ConocoPhillips by 95.6% in the second quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock worth $36,000 after purchasing an additional 153 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

COP has been the topic of several recent research reports. Susquehanna raised their target price on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a report on Friday, November 1st. Scotiabank lowered their price target on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $126.00 price objective (down from $139.00) on shares of ConocoPhillips in a report on Friday, October 11th. UBS Group lowered their target price on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. 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 report on Monday, September 30th. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $137.63.

ConocoPhillips Price Performance

Shares of NYSE:COP traded down $0.60 during midday trading on Friday, hitting $112.32. The stock had a trading volume of 4,124,037 shares, compared to its average volume of 5,882,573. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. The company has a market capitalization of $129.27 billion, a P/E ratio of 13.36, a price-to-earnings-growth ratio of 0.91 and a beta of 1.21. 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’s 50-day moving average price is $108.01 and its 200-day moving average price is $111.78.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating the consensus estimate of $1.68 by $0.10. The business had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm’s revenue was down 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.16 EPS. As a group, equities research analysts predict that ConocoPhillips will post 7.8 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be given a $0.78 dividend. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.78%. The ex-dividend date is Friday, November 8th. ConocoPhillips’s dividend payout ratio is 37.10%.

About ConocoPhillips

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.