Glass Wealth Management Co LLC Acquires New Holdings in ConocoPhillips (NYSE:COP)

Glass Wealth Management Co LLC acquired a new stake in shares of ConocoPhillips (NYSE:COP) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,455 shares of the energy producer’s stock, valued at approximately $541,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Albion Financial Group UT grew its holdings in ConocoPhillips by 876.9% in the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after purchasing an additional 228 shares during the last quarter. Centricity Wealth Management LLC purchased a new position in ConocoPhillips in the fourth quarter worth $27,000. Truvestments Capital LLC purchased a new position in ConocoPhillips in the third quarter worth $31,000. Global Wealth Strategies & Associates grew its holdings in ConocoPhillips by 80.5% in the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after purchasing an additional 153 shares during the last quarter. Finally, RPg Family Wealth Advisory LLC purchased a new position in ConocoPhillips in the third quarter worth $35,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on COP shares. JPMorgan Chase & Co. raised shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $120.00 to $123.00 in a report on Thursday, December 5th. Piper Sandler lowered their price objective 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. Evercore ISI reiterated an “outperform” rating and set a $165.00 price objective on shares of ConocoPhillips in a research note on Friday, December 6th. Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $132.00 to $134.00 in a research note on Monday, December 16th. Finally, Barclays lowered their price objective on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $133.47.

ConocoPhillips Stock Down 2.2 %

COP opened at $90.62 on Wednesday. ConocoPhillips has a fifty-two week low of $88.47 and a fifty-two week high of $135.18. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. The company has a fifty day moving average of $99.99 and a two-hundred day moving average of $104.75. The stock has a market capitalization of $115.31 billion, a price-to-earnings ratio of 11.63, a PEG ratio of 0.79 and a beta of 1.18.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share 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%. On average, research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were issued a $0.78 dividend. The ex-dividend date was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.44%. ConocoPhillips’s payout ratio is 40.05%.

Insider Buying and Selling at ConocoPhillips

In related news, Director R A. Walker bought 10,400 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was acquired at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the purchase, the director now directly 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 purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Arjun N. Murti bought 2,500 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were bought at an average cost of $95.87 per share, with a total value of $239,675.00. Following the purchase, the director now directly owns 21,500 shares of the company’s stock, 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 corporate insiders.

ConocoPhillips 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.