Delos Wealth Advisors LLC Boosts Holdings in ConocoPhillips (NYSE:COP)

Delos Wealth Advisors LLC grew its stake in shares of ConocoPhillips (NYSE:COP) by 472.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,028 shares of the energy producer’s stock after acquiring an additional 5,800 shares during the period. Delos Wealth Advisors LLC’s holdings in ConocoPhillips were worth $697,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of ConocoPhillips by 11.7% in the fourth quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer’s stock valued at $12,081,491,000 after purchasing an additional 12,751,120 shares during the period. State Street Corp grew its stake in ConocoPhillips by 19.0% in the 3rd quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock valued at $7,046,263,000 after buying an additional 10,663,093 shares in the last quarter. Wellington Management Group LLP grew its stake in ConocoPhillips by 20.2% in the 3rd quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock valued at $3,280,725,000 after buying an additional 5,240,016 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in ConocoPhillips by 401.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer’s stock valued at $438,690,000 after acquiring an additional 3,541,504 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of ConocoPhillips during the fourth quarter worth $232,859,000. Institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Truist Financial boosted their price objective on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, January 13th. UBS Group decreased their price target on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. TD Cowen initiated coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They issued a “buy” rating and a $125.00 target price on the stock. Piper Sandler dropped their price objective on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Finally, JPMorgan Chase & Co. lowered their target price on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $132.95.

ConocoPhillips Trading Down 0.4 %

COP stock opened at $102.37 on Friday. 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 1-year low of $86.81 and a 1-year high of $135.18. The business has a 50 day simple moving average of $98.95 and a two-hundred day simple moving average of $103.27. The company has a market capitalization of $130.26 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 0.79 and a beta of 1.12.

ConocoPhillips (NYSE:COP) last posted 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%. Research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips’s dividend 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.