Accurate Wealth Management LLC Acquires 1,047 Shares of ConocoPhillips (NYSE:COP)

Accurate Wealth Management LLC raised its holdings in shares of ConocoPhillips (NYSE:COP) by 7.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,336 shares of the energy producer’s stock after purchasing an additional 1,047 shares during the period. Accurate Wealth Management LLC’s holdings in ConocoPhillips were worth $1,563,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Values First Advisors Inc. purchased a new stake in shares of ConocoPhillips during the third quarter valued at $26,000. Reston Wealth Management LLC bought a new position in ConocoPhillips during the 3rd quarter valued at about $31,000. Truvestments Capital LLC purchased a new stake in shares of ConocoPhillips during the 3rd quarter valued at about $31,000. Global Wealth Strategies & Associates boosted its holdings in shares of ConocoPhillips by 80.5% during the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after acquiring an additional 153 shares during the last quarter. Finally, RPg Family Wealth Advisory LLC bought a new stake in shares of ConocoPhillips in the third quarter worth approximately $35,000. Institutional investors own 82.36% of the company’s stock.

Insider Buying and Selling

In related news, Director R A. Walker bought 10,400 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was bought at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the purchase, the director now owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. The trade was a 37.68 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Arjun N. Murti purchased 2,500 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was bought at an average price of $95.87 per share, for a total transaction 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. 0.34% of the stock is owned by insiders.

ConocoPhillips Stock Performance

COP opened at $104.83 on Wednesday. The company has a 50 day simple moving average of $104.21 and a two-hundred day simple moving average of $107.56. 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 firm has a market cap of $120.65 billion, a P/E ratio of 12.46, a PEG ratio of 0.83 and a beta of 1.19. ConocoPhillips has a 1-year low of $94.23 and a 1-year high of $135.18.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.10. The company 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%. ConocoPhillips’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.16 EPS. Equities analysts forecast that ConocoPhillips will post 7.77 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend was Friday, November 8th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is 37.10%.

Analyst Ratings Changes

COP has been the topic of a number of research analyst reports. Susquehanna increased their price objective on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research report on Friday, November 1st. BMO Capital Markets raised their price target on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Barclays lifted their price objective on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Evercore ISI reissued an “outperform” rating and issued a $165.00 target price on shares of ConocoPhillips in a report on Friday, December 6th. Finally, Truist Financial boosted their price target on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Monday. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $136.65.

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.