Moran Wealth Management LLC Acquires 230 Shares of ConocoPhillips (NYSE:COP)

Moran Wealth Management LLC grew its stake in ConocoPhillips (NYSE:COP) by 3.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,940 shares of the energy producer’s stock after purchasing an additional 230 shares during the quarter. Moran Wealth Management LLC’s holdings in ConocoPhillips were worth $688,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Albion Financial Group UT lifted its stake in 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 acquired a new stake in shares of ConocoPhillips in the 4th quarter valued at approximately $27,000. Truvestments Capital LLC acquired a new stake in shares of ConocoPhillips in the 3rd quarter valued at approximately $31,000. RPg Family Wealth Advisory LLC bought a new position in ConocoPhillips during the 3rd quarter worth approximately $35,000. Finally, Marshall Investment Management LLC acquired a new position in ConocoPhillips during the fourth quarter valued at approximately $36,000. 82.36% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other ConocoPhillips news, Director Arjun N. Murti bought 2,500 shares of ConocoPhillips stock in a transaction dated Friday, December 20th. The stock was bought at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the purchase, the director now owns 21,500 shares of the company’s stock, valued at $2,061,205. The trade was a 13.16 % increase in their position. The purchase was disclosed in a legal 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 that occurred on Tuesday, December 17th. The stock was acquired at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the purchase, the director now owns 38,000 shares in the company, valued at $3,716,400. This trade represents 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.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on COP. Morgan Stanley assumed coverage on shares of ConocoPhillips in a research report on Monday, December 16th. They set an “overweight” rating and a $128.00 price target on the stock. Piper Sandler cut their price objective on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Barclays lowered their target price on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Truist Financial lifted their price target on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Finally, TD Cowen assumed coverage on shares of ConocoPhillips in a research report on Friday, January 17th. They set a “buy” rating and a $125.00 price objective for the company. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $133.47.

ConocoPhillips Stock Performance

Shares of NYSE COP opened at $95.44 on Wednesday. The stock has a market capitalization of $121.43 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12. ConocoPhillips has a 52 week low of $86.81 and a 52 week high of $135.18. The stock has a 50 day moving average price of $99.37 and a 200 day moving average price of $104.07. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, beating 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 predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors 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 annualized dividend and a yield of 3.27%. ConocoPhillips’s dividend payout ratio (DPR) is currently 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.