Meriwether Wealth & Planning LLC Purchases Shares of 9,071 ConocoPhillips (NYSE:COP)

Meriwether Wealth & Planning LLC purchased a new stake in shares of ConocoPhillips (NYSE:COP) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,071 shares of the energy producer’s stock, valued at approximately $900,000.

A number of other hedge funds also recently bought and sold shares of COP. Albion Financial Group UT lifted its stake in shares of ConocoPhillips by 876.9% in the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after buying an additional 228 shares during the period. Centricity Wealth Management LLC bought a new stake in shares of ConocoPhillips in the fourth quarter valued at about $27,000. Truvestments Capital LLC bought a new stake in shares of ConocoPhillips in the third quarter valued at about $31,000. RPg Family Wealth Advisory LLC bought a new stake in shares of ConocoPhillips in the third quarter valued at about $35,000. Finally, Marshall Investment Management LLC bought a new stake in shares of ConocoPhillips in the fourth quarter valued at about $36,000. 82.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Piper Sandler reduced their target price 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. Raymond James cut shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and cut their price target for the stock from $157.00 to $124.00 in a research note on Monday, February 10th. UBS Group cut their price target on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Truist Financial raised their price target on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Finally, The Goldman Sachs Group set a $132.00 price target on shares of ConocoPhillips in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $133.47.

Insider Buying and Selling

In other ConocoPhillips news, Director Arjun N. Murti bought 2,500 shares of the company’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 transaction, the director now owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. The trade was a 13.16 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director R A. Walker bought 10,400 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were acquired at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the transaction, the director now directly owns 38,000 shares in the company, valued at approximately $3,716,400. The trade was a 37.68 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by corporate insiders.

ConocoPhillips Stock Performance

COP stock opened at $90.70 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The company has a 50 day moving average price of $99.53 and a 200 day moving average price of $104.31. ConocoPhillips has a fifty-two week low of $86.81 and a fifty-two week high of $135.18. The stock has a market capitalization of $115.40 billion, a PE ratio of 11.64, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share 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%. Analysts forecast 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. Investors of record on Monday, February 17th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

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.