Sheets Smith Wealth Management Has $378,000 Stake in ConocoPhillips (NYSE:COP)

Sheets Smith Wealth Management raised its holdings in ConocoPhillips (NYSE:COP) by 6.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 3,810 shares of the energy producer’s stock after acquiring an additional 239 shares during the quarter. Sheets Smith Wealth Management’s holdings in ConocoPhillips were worth $378,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in COP. Cypress Capital Group raised its holdings in shares of ConocoPhillips by 0.5% in the third quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock valued at $1,978,000 after acquiring an additional 96 shares in the last quarter. Aprio Wealth Management LLC increased its position in ConocoPhillips by 4.8% during the 3rd quarter. Aprio Wealth Management LLC now owns 2,125 shares of the energy producer’s stock valued at $224,000 after purchasing an additional 97 shares during the period. Smithfield Trust Co raised its holdings in shares of ConocoPhillips by 3.3% in the 3rd quarter. Smithfield Trust Co now owns 3,132 shares of the energy producer’s stock valued at $332,000 after purchasing an additional 100 shares in the last quarter. Ignite Planners LLC lifted its position in shares of ConocoPhillips by 1.0% in the 3rd quarter. Ignite Planners LLC now owns 10,001 shares of the energy producer’s stock worth $1,053,000 after purchasing an additional 102 shares during the period. Finally, Asset Dedication LLC boosted its stake in shares of ConocoPhillips by 2.5% during the third quarter. Asset Dedication LLC now owns 4,202 shares of the energy producer’s stock valued at $442,000 after purchasing an additional 102 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

Wall Street Analyst Weigh In

Several research firms have issued reports on COP. JPMorgan Chase & Co. upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $120.00 to $123.00 in a research note on Thursday, December 5th. Scotiabank cut their price objective on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. TD Cowen assumed coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They issued a “buy” rating and a $125.00 target price for the company. Susquehanna upped their price target on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. Finally, Piper Sandler lowered their price objective on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, ConocoPhillips has a consensus rating of “Buy” and a consensus target price of $136.00.

ConocoPhillips Trading Down 1.2 %

Shares of ConocoPhillips stock opened at $103.02 on Thursday. ConocoPhillips has a 1 year low of $94.23 and a 1 year high of $135.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The stock has a market cap of $118.57 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 0.88 and a beta of 1.19. The firm has a fifty day moving average price of $103.54 and a 200 day moving average price of $107.25.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The business had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. During the same quarter in the previous year, the firm posted $2.16 EPS. The company’s revenue for the quarter was down 8.5% on a year-over-year basis. Equities research analysts predict that ConocoPhillips will post 7.68 earnings per share for the current year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were paid a dividend of $0.78 per share. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.03%. ConocoPhillips’s dividend payout ratio (DPR) is presently 37.10%.

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.