Sequoia Financial Advisors LLC Acquires 6,284 Shares of ConocoPhillips (NYSE:COP)

Sequoia Financial Advisors LLC boosted its holdings in shares of ConocoPhillips (NYSE:COP) by 10.1% during the fourth quarter, HoldingsChannel reports. The fund owned 68,756 shares of the energy producer’s stock after purchasing an additional 6,284 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in ConocoPhillips were worth $6,818,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in COP. CWA Asset Management Group LLC bought a new stake in ConocoPhillips during the 3rd quarter worth approximately $337,000. Ashton Thomas Securities LLC acquired a new position in shares of ConocoPhillips in the 3rd quarter worth approximately $157,000. Verus Capital Partners LLC lifted its position in shares of ConocoPhillips by 2.0% in the 3rd quarter. Verus Capital Partners LLC now owns 5,137 shares of the energy producer’s stock worth $541,000 after purchasing an additional 102 shares during the period. Aptus Capital Advisors LLC lifted its position in shares of ConocoPhillips by 4.1% in the 3rd quarter. Aptus Capital Advisors LLC now owns 18,222 shares of the energy producer’s stock worth $1,918,000 after purchasing an additional 711 shares during the period. Finally, RPG Investment Advisory LLC lifted its position in shares of ConocoPhillips by 0.9% in the 3rd quarter. RPG Investment Advisory LLC now owns 86,639 shares of the energy producer’s stock worth $9,121,000 after purchasing an additional 770 shares during the period. 82.36% of the stock is owned by institutional investors.

Insider Transactions at ConocoPhillips

In other news, Director R A. Walker bought 10,400 shares of ConocoPhillips stock in a transaction dated Tuesday, December 17th. The stock was purchased 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 $3,716,400. The trade was a 37.68 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Arjun N. Murti bought 2,500 shares of ConocoPhillips stock in a transaction dated Friday, December 20th. The stock was purchased at an average price of $95.87 per share, with a total value of $239,675.00. Following the purchase, the director now owns 21,500 shares in the company, valued at approximately $2,061,205. This represents a 13.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Performance

Shares of COP stock opened at $97.64 on Thursday. The firm has a market capitalization of $124.24 billion, a PE ratio of 12.53, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12. The firm has a fifty day simple moving average of $99.34 and a two-hundred day simple moving average of $104.03. 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 has a 12 month low of $86.81 and a 12 month high of $135.18.

ConocoPhillips (NYSE:COP) last announced its quarterly 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 net margin of 16.23% and a return on equity of 17.26%. Analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were paid a $0.78 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.20%. ConocoPhillips’s payout ratio is 40.05%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on COP shares. Piper Sandler dropped their price target on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Wells Fargo & Company dropped their price target on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $132.00 to $134.00 in a research report on Monday, December 16th. Morgan Stanley started coverage on shares of ConocoPhillips in a research report on Monday, December 16th. They issued an “overweight” rating and a $128.00 price target on the stock. Finally, UBS Group dropped their price target on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $133.47.

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.