Congress Wealth Management LLC DE Sells 3,978 Shares of ConocoPhillips (NYSE:COP)

Congress Wealth Management LLC DE cut its holdings in ConocoPhillips (NYSE:COP) by 2.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 144,714 shares of the energy producer’s stock after selling 3,978 shares during the period. Congress Wealth Management LLC DE’s holdings in ConocoPhillips were worth $14,351,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in COP. Orrstown Financial Services Inc. boosted its stake in ConocoPhillips by 3.0% during the fourth quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer’s stock worth $331,000 after acquiring an additional 96 shares in the last quarter. Principle Wealth Partners LLC boosted its position in shares of ConocoPhillips by 0.3% during the 4th quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer’s stock worth $3,695,000 after purchasing an additional 100 shares in the last quarter. Arlington Trust Co LLC grew its stake in shares of ConocoPhillips by 1.2% in the 4th quarter. Arlington Trust Co LLC now owns 8,640 shares of the energy producer’s stock valued at $857,000 after buying an additional 102 shares during the period. Courier Capital LLC raised its holdings in ConocoPhillips by 0.5% during the fourth quarter. Courier Capital LLC now owns 20,481 shares of the energy producer’s stock worth $2,031,000 after buying an additional 103 shares during the last quarter. Finally, Gray Wealth Management Inc. grew its holdings in shares of ConocoPhillips by 5.0% during the fourth quarter. Gray Wealth Management Inc. now owns 2,171 shares of the energy producer’s stock valued at $215,000 after buying an additional 104 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on COP. Morgan Stanley started coverage on shares of ConocoPhillips in a research note on Monday, December 16th. They issued an “overweight” rating and a $128.00 target price for the company. Piper Sandler dropped their price objective on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $132.00 to $134.00 in a report on Monday, December 16th. Truist Financial boosted their price objective on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Finally, Raymond James downgraded ConocoPhillips from a “strong-buy” rating to an “outperform” rating and cut their target price for the stock from $157.00 to $124.00 in a research note on Monday, February 10th. 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $133.05.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock opened at $102.28 on Tuesday. The company’s fifty day simple moving average is $99.17 and its two-hundred day simple moving average is $103.33. ConocoPhillips has a 12-month low of $86.81 and a 12-month high of $135.18. The firm has a market cap of $130.14 billion, a PE ratio of 13.13, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36.

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

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were issued a $0.78 dividend. The ex-dividend date was Friday, February 14th. This represents a $3.12 annualized dividend and a yield of 3.05%. ConocoPhillips’s dividend payout ratio (DPR) is presently 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.