Uniting Wealth Partners LLC Buys Shares of 4,556 ConocoPhillips (NYSE:COP)

Uniting Wealth Partners LLC acquired a new position in ConocoPhillips (NYSE:COP) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 4,556 shares of the energy producer’s stock, valued at approximately $452,000.

Other hedge funds have also recently bought and sold shares of the company. Pitcairn Co. grew its holdings in ConocoPhillips by 16.8% in the 4th quarter. Pitcairn Co. now owns 16,417 shares of the energy producer’s stock worth $1,628,000 after buying an additional 2,356 shares in the last quarter. ExodusPoint Capital Management LP grew its stake in shares of ConocoPhillips by 79.5% in the fourth quarter. ExodusPoint Capital Management LP now owns 748,450 shares of the energy producer’s stock worth $74,224,000 after purchasing an additional 331,558 shares in the last quarter. Arete Wealth Advisors LLC increased its holdings in shares of ConocoPhillips by 27.0% during the fourth quarter. Arete Wealth Advisors LLC now owns 15,500 shares of the energy producer’s stock valued at $1,535,000 after purchasing an additional 3,296 shares during the period. World Investment Advisors raised its stake in shares of ConocoPhillips by 10.0% during the fourth quarter. World Investment Advisors now owns 48,332 shares of the energy producer’s stock valued at $4,793,000 after purchasing an additional 4,404 shares in the last quarter. Finally, Nicolet Advisory Services LLC lifted its holdings in ConocoPhillips by 5.8% in the fourth quarter. Nicolet Advisory Services LLC now owns 8,851 shares of the energy producer’s stock worth $902,000 after purchasing an additional 488 shares during the period. 82.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

COP has been the topic of several research analyst reports. Barclays lowered their target price on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. UBS Group cut their target price on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. The Goldman Sachs Group set a $132.00 price target on ConocoPhillips in a research report on Thursday, January 30th. Wells Fargo & Company cut their price objective on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Finally, Piper Sandler lowered their target price on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $132.95.

ConocoPhillips Price Performance

NYSE:COP opened at $106.12 on Thursday. The firm has a market cap of $135.02 billion, a PE ratio of 13.62, 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 has a 12 month low of $86.81 and a 12 month high of $135.18. The company’s 50-day moving average price is $99.02 and its two-hundred day moving average price is $103.33.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, topping the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. On average, equities analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders 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 dividend on an annualized basis and a yield of 2.94%. ConocoPhillips’s payout ratio is 40.05%.

ConocoPhillips Company 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.