ConocoPhillips (NYSE:COP) Shares Acquired by Accel Wealth Management

Accel Wealth Management lifted its position in shares of ConocoPhillips (NYSE:COP) by 45.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,358 shares of the energy producer’s stock after purchasing an additional 1,669 shares during the period. Accel Wealth Management’s holdings in ConocoPhillips were worth $531,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AXA S.A. lifted its position in shares of ConocoPhillips by 7.1% during the second quarter. AXA S.A. now owns 32,046 shares of the energy producer’s stock worth $3,665,000 after purchasing an additional 2,116 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of ConocoPhillips by 25.2% in the 2nd quarter. AQR Capital Management LLC now owns 615,172 shares of the energy producer’s stock worth $70,363,000 after purchasing an additional 123,834 shares during the last quarter. Daymark Wealth Partners LLC boosted its holdings in shares of ConocoPhillips by 10.7% during the second quarter. Daymark Wealth Partners LLC now owns 10,470 shares of the energy producer’s stock valued at $1,198,000 after acquiring an additional 1,009 shares during the period. MBB Public Markets I LLC lifted its position in ConocoPhillips by 3,137.3% in the 2nd quarter. MBB Public Markets I LLC now owns 83,458 shares of the energy producer’s stock valued at $9,546,000 after purchasing an additional 80,880 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of ConocoPhillips by 13.7% during the second quarter. The Manufacturers Life Insurance Company now owns 2,442,893 shares of the energy producer’s stock worth $279,416,000 after buying an additional 294,778 shares during the period. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Down 2.0 %

COP opened at $101.88 on Friday. The stock has a market capitalization of $117.26 billion, a price-to-earnings ratio of 12.11, a P/E/G ratio of 0.86 and a beta of 1.19. ConocoPhillips has a 1-year low of $94.23 and a 1-year high of $135.18. The business has a 50 day moving average of $102.98 and a 200-day moving average of $107.13. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. During the same quarter in the prior year, the business earned $2.16 earnings per share. The firm’s revenue for the quarter was down 8.5% on a year-over-year basis. As a group, sell-side analysts anticipate that ConocoPhillips will post 7.65 earnings per share for the current year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were given a $0.78 dividend. The ex-dividend date was Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.06%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is currently 37.10%.

Insider Activity at ConocoPhillips

In related news, Director R A. Walker acquired 10,400 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were bought at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the acquisition, the director now owns 38,000 shares of the company’s stock, valued at $3,716,400. This trade represents a 37.68 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Arjun N. Murti bought 2,500 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was bought at an average cost of $95.87 per share, with a total value of $239,675.00. Following the completion of the acquisition, the director now owns 21,500 shares in the company, valued at $2,061,205. This represents a 13.16 % 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 equities analysts recently issued reports on COP shares. JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and increased their target price for the company from $120.00 to $123.00 in a research report on Thursday, December 5th. Piper Sandler dropped their price target on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Morgan Stanley assumed coverage on shares of ConocoPhillips in a research note on Monday, December 16th. They set an “overweight” rating and a $128.00 price objective for the company. Wells Fargo & Company reduced their target price on ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating for the company in a report on Tuesday, January 14th. Finally, Truist Financial lifted their target price on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $135.89.

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.