Modera Wealth Management LLC Boosts Stock Position in ConocoPhillips (NYSE:COP)

Modera Wealth Management LLC boosted its position in shares of ConocoPhillips (NYSE:COP) by 3.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,922 shares of the energy producer’s stock after acquiring an additional 358 shares during the quarter. Modera Wealth Management LLC’s holdings in ConocoPhillips were worth $1,083,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Tidal Investments LLC grew its holdings in shares of ConocoPhillips by 42.7% in the third quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer’s stock valued at $10,902,000 after purchasing an additional 31,011 shares in the last quarter. Leavell Investment Management Inc. boosted its position in ConocoPhillips by 59.8% in the 4th quarter. Leavell Investment Management Inc. now owns 19,166 shares of the energy producer’s stock valued at $1,901,000 after buying an additional 7,174 shares during the period. Brookstone Capital Management grew its stake in shares of ConocoPhillips by 4.5% in the fourth quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer’s stock worth $878,000 after acquiring an additional 383 shares in the last quarter. Prospera Financial Services Inc increased its position in shares of ConocoPhillips by 23.6% during the third quarter. Prospera Financial Services Inc now owns 71,097 shares of the energy producer’s stock worth $7,488,000 after acquiring an additional 13,595 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in shares of ConocoPhillips by 1.9% in the third quarter. The Manufacturers Life Insurance Company now owns 2,489,514 shares of the energy producer’s stock valued at $262,094,000 after acquiring an additional 46,621 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Arjun N. Murti purchased 2,500 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were acquired at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the purchase, the director now directly owns 21,500 shares in the company, valued at $2,061,205. The trade was a 13.16 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director R A. Walker purchased 10,400 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were purchased at an average price of $97.80 per share, for a total transaction 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. This trade represents a 37.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on COP. Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $132.00 to $134.00 in a research note on Monday, December 16th. JPMorgan Chase & Co. raised ConocoPhillips from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $120.00 to $123.00 in a research report on Thursday, December 5th. Truist Financial raised their target price on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a report on Monday, January 13th. Piper Sandler decreased their price target on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Finally, UBS Group dropped their price objective 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 assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and an average price target of $133.47.

ConocoPhillips Stock Down 6.7 %

COP stock opened at $92.52 on Tuesday. The company has a market cap of $117.72 billion, a price-to-earnings ratio of 11.88, a price-to-earnings-growth ratio of 0.79 and a beta of 1.18. The company has a fifty day moving average price of $100.12 and a 200 day moving average price of $104.90. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. ConocoPhillips has a 12 month low of $91.56 and a 12 month high of $135.18.

ConocoPhillips (NYSE:COP) last announced its 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%. Sell-side analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business 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 was Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.37%. ConocoPhillips’s dividend payout ratio (DPR) is currently 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.