Heritage Wealth Advisors Has $41.65 Million Stock Position in ConocoPhillips (NYSE:COP)

Heritage Wealth Advisors lifted its stake in shares of ConocoPhillips (NYSE:COP) by 5.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 419,959 shares of the energy producer’s stock after purchasing an additional 21,380 shares during the quarter. ConocoPhillips comprises 2.1% of Heritage Wealth Advisors’ investment portfolio, making the stock its 21st biggest holding. Heritage Wealth Advisors’ holdings in ConocoPhillips were worth $41,647,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Tidal Investments LLC increased its holdings in ConocoPhillips by 42.7% during the third quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer’s stock worth $10,902,000 after buying an additional 31,011 shares during the last quarter. Leavell Investment Management Inc. lifted its position in ConocoPhillips by 59.8% in the fourth quarter. Leavell Investment Management Inc. now owns 19,166 shares of the energy producer’s stock valued at $1,901,000 after purchasing an additional 7,174 shares during the last quarter. Brookstone Capital Management grew its position in shares of ConocoPhillips by 4.5% in the 4th quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer’s stock worth $878,000 after buying an additional 383 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in 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 worth $262,094,000 after buying an additional 46,621 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in ConocoPhillips by 2.3% in the third quarter. Principal Financial Group Inc. now owns 1,474,270 shares of the energy producer’s stock worth $155,211,000 after purchasing an additional 32,948 shares during the period. Institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

COP has been the topic of several recent analyst reports. Raymond James cut ConocoPhillips from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the company from $157.00 to $124.00 in a research report on Monday, February 10th. UBS Group lowered their price objective on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. Truist Financial raised their price target on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a report on Monday, January 13th. TD Cowen started coverage on shares of ConocoPhillips in a research report on Friday, January 17th. They set a “buy” rating and a $125.00 target price for the company. Finally, Mizuho raised 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. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and a consensus price target of $133.05.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $102.44 on Wednesday. The company has a market cap of $130.34 billion, a price-to-earnings ratio of 13.15, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12. 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 $86.81 and a 12 month high of $135.18. The stock’s 50-day moving average is $99.12 and its 200-day moving average is $103.31.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. Equities analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders 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 dividend yield of 3.05%. ConocoPhillips’s payout ratio is 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.